Don't Get Duped: Effective Hacks to Outsmart Cybercriminals

Cyber attacks are nothing new in this digital age. Every day, cybercriminals invent new ways to get valuable data. That’s why businesses and individuals need to implement robust cybersecurity strategies consistently.

Do you think you're not worthy of attracting the attention of cybercriminals? Think again! Nowadays, cybercriminals are not just after your financial details and what's in your bank account. They want your identity documents as well as what's in your email. So, hoping you're downplaying your capability of being a victim, cybercriminals cast a wide net of cyber attacks to trap whoever they can.

But did you know there are a few simple hacks you can use to prevent falling for cyber scams?

Recognizing Common Cyber Scams

Canada lost more than $3 billion in 2023 from approximately 63,519 cases of cyber attacks. If that's not alarming, perhaps the fact that this value is a 25% increase from the cases reported back in 2022 will do the trick.

That goes to show that the current crop of tech-savvy and sophisticated cybercriminals know how to exploit any overlooked lapse in cybersecurity strategies. From opening that phishing email to playing your favorite slots at unregulated gambling sites to infiltrating software updates, these digital marauders ensure no stone is left unturned.

Some even go a step further to employ advanced tactics such as AI-driven cyber attacks, social engineering, and zero-day exploits. That means we should view every digital interaction as a potential threat. Nonetheless, let's discuss some common cyber scams that have been used to dupe unsuspecting users online over the past few years:

a)    Ransomware

Ranking high on the list of common types of cyberattacks faced by Canadians and the world over, ransomware involves downloading malicious software that encrypts, extracts, and even deletes data. In turn, criminals use this information to make ransom demands to return the data or sell it over the dark web. Either way, such attacks lead to costly business downtime and recovery processes, almost irreparable damage to brand reputation, as well as obvious data loss and privacy breaches.

b)    Phishing Attacks

Phishing attacks have become a norm in today's online society. Many times we receive emails, sometimes with malicious links or asking for personal information, seemingly coming from trustworthy sources, just to find they are, in fact, scammers seeking to extract your sensitive information. Even highly personalized emails, calls, and texts from such rogue actors pretending to be the legit businesses we know and love are not uncommon these days—a tactic known as spear phishing.

c)     Fake Job Offers and Prize Scams

Canada's unemployment rate has been on an upward trajectory since April 2023, hitting 6.40% in June 2024, and scammers are increasingly aware of this. As such, there's an increase in the deceiving emails sent, claiming to offer positions at various organizations and requiring some sort of payment after a fraudulent check/assessment.

The same applies to prize scams. Unsuspecting victims receive emails, texts, or calls claiming they have won a lump sum amount, maybe from a lottery or winning an online slot tournament. But they usually require one to pay a fee to release the winnings. Believe it or not, many have experienced identity theft, alongside losing significant amounts, due to such scams.

3 Simple Hacks to Protect Yourself Online

Keeping yourself cyber-secure is not as challenging as many think it is. In fact, it often involves an intentional effort to secure your data through a combination of a few simple yet effective hacks. These include:

a)    Use Multifactor Authentication

Also known as two-factor authentication (2FA), multifactor authentication (MFA) is a voluntary step many trusted sites use to establish that you are who you say you are. It involves entering your fingerprint, FaceID, a confirmation code sent to your phone, or even a unique PIN number or an answer to a security question that you previously set up before accessing your 2FA-protected account.

With that simple extra step, you have already outsmarted 70% of the cybercriminals.

But what about the rest? Kee reading.

b)    Turn ON Automatic Software Updates

We've already explained how bad actors constantly look for flaws in your system. Although network defenders always do their part behind the scenes, keeping cybercriminals away takes a little more effort.

Ticking that 'automatically update software' button on your device will efficiently do the trick, arming your devices and systems with the latest fixes.

c)     Use Strong Passwords

Did you know that 123456 ranked as the most common online password among Canadians in 2023? Well, other examples such as password, admin, hockey, Canada, or your child's birth date are no better. Include up to 16 characters, various punctuation marks, uppercase and lowercase letters as well as a few numbers to make your password impenetrable.

Do note that your email password should not be the same as your online casino account password or that of any other app or website. Yes, we know how challenging it is to remember one password, let alone multiple.

But an online password manager can ease all these troubles. That way, every time you log in to your favorite online casinos in Canada to indulge in some riveting slot gameplay, the tool will effortlessly remember your distinct password on your behalf. Of essence is ensuring your preferred site has a legitimate license alongside the latest security measures. As such, you'll avoid putting in hours at a scam site that not only wastes your time but also gets access to your financial details.

What Should You Do If You Get Duped By Cybercriminals?

Despite implementing various cybersecurity measures to protect ourselves online and the systems we use from being hacked, it's still not unusual for a hacker to slip in through a crack. So, if you suspect that criminals have invaded your system or email network or that your information has been compromised, we advise that you contact the relevant authorities or establishments.

For Canadians, you can report the issue to your local police as well as the Canadian Centre for Cyber Security. You can also contact your bank if the scam involved a payment or your bank details. But more importantly, change your crucial login credentials as soon as possible and turn on multi factor authentication for extra security.