With the increase of online shopping during the pandemic, many people are at risk of account takeover from online scams. Many people on the internet have made sure to safeguard their personal information with credit monitoring to encourage alerts and ensure they don’t fall victim to scams. Thankfully, you can learn how to protect yourself from identity theft.
How Are Identities Stolen?
Identities are stolen by picking up someone’s personal information and using it to hack their account. An account takeover is when scammers gain access to a person’s financial account information, enabling them access to personal information and data.
The scammer can use this information to buy other financial products, running up potentially thousands in debt for the individual and ruining their credit scores. This type of identity theft can take individuals years to recover.
What Are Online Shopping Scams?
These scams are popular with the growth of eCommerce and online shopping. In account takeover scams, the scammer collects a user’s financial information when they enter it at the checkout for an online shopping webpage.
Little does the online shopper know that the entire page is fake. The products don’t exist and will never be shipped. A scammer has set up this website with the sole purpose of collecting credit card numbers or other payment platform information. The scammer is taking advantage of the trust that many have put into online shopping platforms in the modern era.
How Online Shoppers get Scammed
There are a few different ways that online shoppers get scammed, becoming victims of account takeover. An eCommerce site may be set up to look like any other eCommerce site, providing a range of specialty products.
Quite often, luxury brands are displayed on these websites at much lower prices, making the offer enticing for someone who otherwise would not buy. In these situations, abnormally low prices