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Tom Muleya-Fraud Insight
Fraud is big criminal enterprise and tops the crime index globally. The losses due to cases of fraud committed by use of technology or through cyber space are worrying.
Fraud has devastating effects on its victims. Due to advancing technology that allows criminals to launch some attacks from a remote place, more and more criminal offenders are enrolling themselves on this criminal enterprise.
This means that more and more potential victims should be knowledgeable about fraud preventive or prevention measures to minimise activities of fraud.
The following are some of the general ways of preventing or minimising fraud attacks;
Know key sources of information
Ignorance is very disastrous. When people do not know where to get relevant information, the chances are high that they end up endangering themselves. Specific transactions affect certain departments or sectors. For example a transaction involving the sale of a residential stand affects city council, Deeds Office, layers, the police etc. Make sure you know key Stakeholders and what information you may get from them.
Monitor your transactions and investments
You need to keep a closer look or continuously watch over your transactions and investments. Most people are taken by surprise when they are duped. It is important that you have every detail of what is happening and if they are slight indications of dishonest, swiftly move to avert the loss by informing the custodians of law and order.
Be wary of advance payments
Advance fee frauds are the most common scams these days. Fraudsters will ensure that they get your money first. When someone pressurizes you to make payment, then you know it’s a scam. You may as well protect your money by putting some stringent conditions.
Don’t let anyone rush you
When someone solicits from you for an investment or pressurises you to do a deal, ask for some time to think over and consult your investment professional or other trusted sources. One of the ways fraudsters use to get their victims is by rushing them into making decisions. Walk away if you find yourself in these circumstances.
Don’t put all your eggs in one basket
Although almost every business investment has certain degree of risky, do not risk putting all your assets in one business. Diversify your investments. While you put some of your money in potentially high yielding investment, put some of your assets in safer investments too and this will guarantee that you do not lose everything.
Think
One of the best God given resources available to all mankind is the ability to think. Remember fraudsters take their time to think in order to come up with the best fraudulent schemes that cannot be easily detected. So you need to think too before making an investment or transacting.
Pull out when in doubt
One of the golden rules in respect of weapon handling is that one should not shoot when in doubt. The consequences are obvious. When you are suspicious about a transaction, never experiment or gamble with your money. The suspicion is good enough indicator that something might be wrong; so just withdraw.
Exercise extreme caution when doing online transaction
When you go online to transact, you have just entered an insecure site. As a preventive measure, avoid negligent behaviour that may render you vulnerable phishing and hacking and identity theft.
Take responsibility
Ensure to take measures that will protect you against identity theft. Identity theft may occur when you become negligent in securing your personal data and information.
Get empowered by Fraud insight and be part of a solution to the problem of fraud. Watch out for the next issue.
For your feedback, WhatsApp line: 0772 764 043, or e-mail:[email protected]. Tom Muleya is a Detective Assistant Inspector working under the Criminal Investigations Department. Harare. He is also a member of the National Cyber Security Taskforce, Zimbabwe.
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