By Vivian Valbuena, GM Risk at Fisher Funds and Deputy Chair, RiskNZ
Dating back to the mid-1990s, phishing is now considered an old-school scam tool, but it continues to grow in use and sophistication. In essence, phishing is a tactic used to acquire your personal and/or financial information in order to steal your money. While phishing usually occurs via email, it now uses many forms, such as social media messages, pop-up ads, “vishing” (phishing by phone), “smishing” (phishing by text messages), and “pharming” (phishing by drawing victims to bogus websites).
Wherever they crop up, phishing messages always sound urgent – “act now or your account will be frozen”, “exclusive deal just for you, claim now” or “your parcel is ready for pick up now”. These messages often prompt quick action; requesting personal or business information or directing you to a link.
Here are some warning signs:
Offers of free products or services, cheap travel deals or lottery prizes
Vague or generic language to describe a problem with an account or purchase; for example, “payment issue”
Threats of consequences for not acting, such as legal action or freezing accounts
Request to click a link, open an attachment or reply with personal information to resolve an “issue” or claim an offer
Poor spelling and grammar can be a warning sign, as many phishing scams originate overseas
Pop-ups on your computer or mobile phone that warn you of viruses or promise a prize
Unsolicited message claiming to be from a government agency, public utility, bank, or major company
And here’s how you can protect yourself:
Check the “From” address. If an email says it’s from a bank but comes from a Gmail account or foreign domain, it’s a phony!
Hover your cursor over links (but don’t press) to reveal the true destination. Or you can copy and paste the URL into a safety checker such as VirusTotal or Google Safe Browsing, which can tell you if there’s a phishing or malware risk.
Use antivirus software and keep it up to date. Activate firewalls and other settings that block malicious files.
Use different passwords for your online accounts, to minimise the damage in case you are phished or hacked. Change your password immediately if you suspect the possibility of a breach.
Do not give out personal or financial data in response to an email or an unsolicited call. For example, if a store you buy things from sends you an email with a sale or special deal, go to the store’s website to order it, do not click on the link in the email.
If a business or government agency is really trying to contact you, respond to the request by using the customer service email or hotline, which you can find online or on account statements.
Avoid public wifi i.e. at the airport or hotel. If you need it, be sure to use a Virtual Private Network.
Having a two-factor authentication (MFA) is still the best defence against cybercrime.
If you suspect you’ve been a victim of a phishing attack, you can forward suspicious emails to [email protected] and you can forward texts to 7726. If it happens on your work email, report it to your IT department immediately.
If you’ve lost money or had information stolen, report it to the police at 105 or on-line.
Talk to us
If you’ve got questions about your investment, our friendly team are here to help. You can drop us an email, call us on 0508 347 437, or chat with us online.
