Afraid of Scam? Learn Safe Ways to Transfer Money Online

Digital technology makes everything easier, including for scammers. Online money transfer is a common activity everyone does for convenience, yet scammers love trying their luck here and robbing unsuspecting people. You need to take precautions to prevent scammers from causing you (or your fund recipients) losses.

While scammers may have various strategies to commit thefts, you can counter them by using some simple but effective preventive steps. Here are several recommended methods to prevent scammers from taking advantage of you when doing online transactions.

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1. Confirm the Identity of the Recipient

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Scammers love targeting gaps in online money transfer. Various scam tricks target people who are careless enough to send money to unverified recipients. Bad actors may trick you through various meanings, such as pretending to sell goods, offer a job, or disguise themselves as someone you know.

Always confirm the identity of the recipient before you send any money. If they sound like someone you know, contact them first to clarify. If you purchase something, make sure the goods are from real stores or valid sellers. 

2. Avoid Transferring Huge Sums (at First)

Sometimes, a really smart scammer only needs to concoct smart lies and trick one person, who would later send a large sum of money. You can prevent this type of loss by not immediately transferring a huge sum, regardless of the goal.

If you purchase something that costs a lot, such as special collectibles, ask if you could send down payment. You can also choose multiple payments if necessary or if you are unsure about the recipient. This way, even if you get scammed, the loss is way smaller.

3. Try Delaying the Transfer

This is a good trick to discover whether your future money recipient is a scammer or not. Scammers often give you some kind of deadline for money transfer, using various reasons from emergency to some kind of technicality. Delay the transfer and let the deadline pass. If the person contacts you again to inform you about the deadline extension, there is a big chance they are a scammer.

4. Protect Personal and Financial Details

This self-preservation step is mandatory for everyone, but sadly, it is often neglected. 

Everything that can be used to access your payment system or account must be protected. They include your Social Security Number or other forms of citizen ID, address, credit card numbers, card PIN numbers, passwords, and bank information. Always keep them secret and do not store them in spots where they are easily stolen or misplaced.

Make sure to change passwords for your bank app, email address, and other important things related to payments. Ideally, passwords must be replaced every three months or so. Turn on extra security functions such as two-factor authentication.

5. Recognize Common Money Scams

Scammers often depend on a few gullible people to make money, so make sure you recognize common money scams. This knowledge can help you spot suspicious things before doing online money transfers.

Some of the popular ones include:

• Money or Shopping Baits

Anything that sounds too good to be true is often a scam, including money or shopping bait. Usually, it includes a message or phone call about you getting some kind of prize, financial compensation, overseas job offers, or big discounts. Pay attention to offers that seem too fantastic or come without your initiatives, such as job offers that you do not apply to.

• Fake Charity

Fake charity takes advantage of kind but gullible people, which is a harsh fact. The only way to avoid it is only giving your money to a trusted body of charity, with the identity that you have already confirmed. If possible, you can source trusted local charities within your own region for easier verification.

• Love Scam

Love scams usually target people who use dating apps, especially the international ones. When you meet someone new, pay attention if financial stuff immediately becomes their concern. Perhaps they need money for visa and plane tickets to visit you, or want to send you a package with certain “fees”. Whatever it is, best avoid these types of messages.

6. Use Trusted Fund Transfer App 

Security and reliability must always be priorities for online money transfer. Make sure you use a trusted fund transfer app, such as Flip Globe. The app has been authorized by the Indonesian Bank, making it a trusted app for your transactions. You can send money to 55 countries, with an encryption technology that keeps your transaction safe.

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Common sense and standard security strategies can help you avoid scams that involve online money transfer. Always stick to the safest options and download Flip Globe for safer, faster, and easier fund transfer.