For Visa, which has just published a report on bank fraud, even consumers who think they know how to spot attempted scams can be tricked.
Global digital payments giant, Visa, releases a research report that seeks to examine the language of fraud and the consequences it can have on all of us. Because if we consider ourselves capable of correctly identifying the scam attempts that flood our devices by e-mail, SMS or other, the deluge of traps can work.
122 million Visa transactions blocked before the tragedy, this year alone
As the end-of-year celebrations approach, scammers are counting on the many occupations of consumers, no doubt tempted to let their guard down a little, to trap them and make them their victims. Phishing text messages and other e-mails promising free gifts or, worse, incentives to “act now” abound and put users, but also companies, at risk.
The latest report published by Visa, in collaboration with Wakefield Research, shows that cybercriminals are quite capable of finding vulnerabilities, even among the most tech-savvy and savvy users. A way to say that no one is really safe. 73% of consumers miss noticeable warning signs in digital communications.
Visa indicates that it has blocked, before the damage is done and over the past year, no less than 122 million fraudulent transactions, for a total amount of… 7.2 billion dollars. Examples of traps set are obviously not lacking: false notification from your electricity supplier, e-mail informing you that you have just won products in your favorite store or tempting job offer…
Getting trapped doesn’t just happen to others
The key is to understand what Visa calls ” the language of fraud “. The company recalls that scammers have reached new heights of sophistication, both in language and variety, and no one is immune “. Earlier this year, she commissioned a linguistic analysis that sheds light on the language elements of malicious individuals. We note that 87% of fraudulent messages invite consumers to solve a problem, or to grab an unmissable offer.
What is certain is that the scammers have evolved and now capitalize on the gap between consumers’ awareness of linguistic ploys and their actual behavior. One of the pitfalls, according to Visa, is believing that others are more vulnerable to fraud than we are. 90% of consumers fear that loved ones will be scammed.
From a more personal and individual perspective, Visa adds that 81% of respondents look at the wrong details to spot a legitimate or malicious communication. For example, more attention will be paid to the logo and the name of the company, while these elements are among the easiest to falsify. ” To better protect themselves from fraudsters, they would do well to examine details that are more difficult to falsify, such as account numbers or their interactions with the company. says Visa.
Another sign: 60% of respondents say they make sure that the communication they receive comes from a valid e-mail address. Yet only 47% of consumers actually check spelling. The holders of cryptocurrencies, on the other hand, are more cautious, because they are better able to recognize the good elements.
You will probably waste a little time, but there is nothing better than taking a few minutes to decipher the language of fraud. Do not click on a link without having checked where it will take you, activate purchase alerts, which notify you in real time of purchases made from your account, are habits to adopt. ” Call the number on the relevant company’s website or on the back of your debit/credit card if you are in any doubt as to the validity of a communication (don’t make the mistake of calling the number given by the scammer) advises Visa.
Source : Visa report
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