Monday 20 November 2017

8 Online Scams To Be Very Aware Of This Christmas

We’ve all heard about the Nigerian Prince who needs to transfer money out of the country and has selected us to send it to. Haven’t we? Phone and internet scams are all around us, in fact, they're so common that the ACCC recorded more than 105,000 scams a year, which resulted in losses of more than $84 million. That's only the ones that were reported: many more went unreported, often because the victim was too embarrassed to do so.

So to help you be on the lookout for, and hopefully avoid falling into their blackening pit of online deceit, we've put together a list of 8 most common scams.
1. The Urgent Transfer
What it looks like: You receive an email from a friend, family member or senior staff member telling you they need urgent access to funds. The story adds up (they're probably overseas and short on time). Besides, it comes from their email address and looks authentic. 
What's really happening: Their email account has been compromised and you're transferring your money straight into the scammer's bank account.
What can you do to avoid it: Do not reply to that email. Create a new email to that friend and ask them if they are ok, or if you can, privately message them on social media to confirm their status.
2. The Mail That Never Came
What it looks like: That credit card you applied for never seemed to arrive.
What's really happening: Scammers accessed your letterbox and intercepted the card before you had a chance to receive it. They've changed the PIN and are now using it for themselves. In the process, they're racking up a significant debt in your name. And its not just your credit card mail they will take.
What can you do to avoid it: Put a lock on your letterbox, or use a PO Box, or at least check your mailbox regularly.
3. The Parcel Pickup
What it looks like: A postal delivery company sends you an email telling you that you have a parcel that can't be delivered. If you can't collect it within 7 days it will be destroyed. But first, you need to print off a label to redeem your package.
What's really happening: Rather than printing a label, you're actually downloading dangerous ransomware. Once it's installed, scammers can use it to lock files and even destroy them. The only way you can take back control is to pay them. Making sure your computer is regularly backed up can also help counter-effect the impact of ransomware.
What can you do to avoid it: This one is really scary as all you can do to get back control of your computer, and files, is to pay them. Think before you click on anything you aren’t sure of: Are you expecting a parcel? Why would it not have been delivered? Pick up the phone and call before clicking.
4. The 'Free' WiFi
What it looks like: You're at the airport or hotel and need to connect your laptop or mobile to the internet. When you search for a connection, you're in luck. There's a free hotspot right nearby.
What's really happening: You've actually just connected to a fake network. This allows a scammer to intercept all network traffic and steal your personal information. And the pain doesn't stop there. From now on, every time you turn on your device, you could be transmitting the same 'free' wifi to other unsuspecting users.
What can you do to avoid it: You should only connect to wifi that you know is legitimate and, if in doubt, pay to access a secure network. You should also make sure your anti-virus software is up to date and your firewall is turned on.
5. The Unrealistic Job Offer
What it looks like: You respond to an advertisement that promises you'll earn good money from the comfort of your home as an 'accounts processor'. All you need to do is set up a bank account and forward any money that comes into it, onto another account. You even get a cut of each transaction for your troubles. 
What's really happening: You're being used by fraudsters as a “money mule”: an everyday person with no criminal history through whose bank account they'll move the proceeds of crime.
What can you do to avoid it: This is money laundering, done by organized crime, and you can be implicated and go to jail. Easy money doesn’t exist. Check, research, and qualify before you go the easy route.
6. The Speeding Fine
What it looks like:  A government body/law enforcement agency, emails you to tell you that your vehicle has been caught speeding. You need to download the photo they've taken to confirm you were driving.
What's really happening: The link you click on downloads ransomware to your computer. You'll have to pay the scammers to get back the files they encrypt.
What can you do to avoid it: Same as #3, this is hard to back out of and will end up costing you a lot of money. Do your research before you click on things you are not sure of.
7. The Computer Problem
What it looks like: You receive a call from your internet service provider. They've detected a virus on your computer and it's sending error messages. The good news is that they can fix it, so long as you give them remote access.
What's really happening:  You've handed control of your computer to a scammer. They'll probably try to steal your personal data or hold your computer to ransom until you pay.
What can you do to avoid it: Never hand over remote access to anyone! If it’s that bad, take it to the service providers storefront and ask them about it.
8. The Store Voucher
What it looks like:  A well-known brand uses its social media account to post that it's giving away gift vouchers or free flights or another very attractive perk. To claim your prize, all you need to do is like the post. Like this photo, or share it if it tugs on your heartstrings, or type Amen then share, or type the solution then like.
What's really happening: You've fallen victim to a 'like farming' scam. The page isn't authentic but has been set up by a scammer who's trying to get as many likes as possible. They'll on-sell these likes - and your profile - to other fraudsters, who will start pushing spam posts in an effort to get hold of your credit card data.
 What can you do to avoid it: Oh this is so common! If it’s not a friends post or a known source, stay away, don’t get sucked in by emotions or because you think you are clever enough to know the answer.
AND THAT’S JUST THE BEGINNING . . .
As the world becomes alert to the prevalence of scams, scammers are responding by becoming more creative. So, as these 9 scams start to become less effective, it's likely that newer and more sophisticated ones will take their place.
RULE OF THUMB
Email: Don’t open or download any links or attachments that you are unsure of. Research them prior to doing so. Get on the phone and check the source.
Some emails may seem to come from a reputable name, EG: YourFriend, but when you right-click on that ‘from name’ you will find the real source, EG: YourFriend <dodgysource@evendodgiercompany.com>
Social Media: Only respond to known posts – friends and businesses that are familiar to you.
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This list was prepared by Your Wealth Vault, an online financial education program where you’ll learn how to take control of your finances, step-by-step, identifying where your money is coming from and where it is going. It’s called cash-flow budgeting.

Take your FREE Money Personality Quiz to see how your money controls you. 

Wednesday 1 November 2017

The #1 Cause Your Spending Gets Out Of Control?

Sometimes it just doesn't take much for something to trigger an out of control wobble, right? Could be the kids, could be work, could be your partner, or a multitude of other reasons.

Do you know what the number one cause of losing control is? What gets us anxious?

It's Money.

Do you control your money or does it control you?



Whether you are starting your financial journey out of Uni, getting your first job, climbing the career ladder, jumping into, or out of a relationship, buying property, or even starting a business, you need to take control of your financial future.

There are a heap of 'Manage Your Money' APPs and Software Platforms out there now.

They're a fantastic start for anyone that doesn't have control over their money.

They scrape your bank accounts and show you what you are spending and categorise that spending, so you roughly know what you are spending your money on.

Better to know than not to know, right?

These Apps aren't really going to let you get ahead, or save, they just help you to not overspend.

Now if you are really serious about getting on top of your money, you need to be preparing a budget of your cash-flow.

But no-one wants to create a budget. That's way too hard. Unless . . .

Your Spending Plan from Your Money Sense is a budget planning tool, stepping further into managing your spending categories than the account scraping APPs, in order to save you real money, and put more in your pocket, and even get you saving for those bigger purchases or life-event needs.

It's a step-by-step module course showing you how to gather, categorise and act on your expenses and make real savings.

Your Spending Plan is not an automated scraping tool, like the multitude of APPs out there, as the information needs to be accurate and detailed.

I won't sugar-coat it, there is manual entry required to get it started so you will need to gather your bills and expenses together.

One of the great things about the Your Money Sense course is that it guides you through each step like an easy course, so you know what to do and have plenty of time to do it.

Once your money flow is categorised you can model your expenses to see what a slight adjustment can do to affect your savings in the short, mid or long term.



Best created on a desktop, the smart dashboard shows you what your ideal target expenses should be and once you have made some realistic changes, what your expenses target looks like.

Your Spending Plan is a living breathing document that you can, and will want to, adjust every month, if not more regularly.

If you really want to get on top of your money – control it rather than letting it control you – then you should use Your Spending Plan. It should end up saving you considerably more than it costs each month.

Do you control your money or does it control you?

Whether you are starting your financial journey out of Uni, getting your first job, climbing the career ladder, jumping into, or out of a relationship, buying property, or even starting a business, you need to take control of your financial future.

There are a heap of 'Manage Your Money' APPs and Software Platforms out there now.

They're a fantastic start for anyone that doesn't have control over their money.

They scrape your bank accounts and show you what you are spending and categorise that spending, so you roughly know what you are spending your money on.

Better to know than not to know, right?

These Apps aren't really going to let you get ahead, or save, they just help you to not overspend.

Now if you are really serious about getting on top of your money, you need to be preparing a budget of your cash-flow.

But no-one wants to create a budget. That's way too hard. Unless . . .

Your Spending Plan from Your Money Sense is a budget planning tool, stepping further into managing your spending categories than the account scraping APPs, in order to save you real money, and put more in your pocket, and even get you saving for those bigger purchases or life-event needs.

It's a step-by-step module course showing you how to gather, categorise and act on your expenses and make real savings.

Your Spending Plan is not an automated scraping tool, like the multitude of APPs out there, as the information needs to be accurate and detailed.

I won't sugar-coat it, there is manual entry required to get it started so you will need to gather your bills and expenses together.

One of the great things about the Your Money Sense course is that it guides you through each step like an easy course, so you know what to do and have plenty of time to do it.

Once your money flow is categorised you can model your expenses to see what a slight adjustment can do to affect your savings in the short, mid or long term.



Best created on a desktop, the smart dashboard shows you what your ideal target expenses should be and once you have made some realistic changes, what your expenses target looks like.

Your Spending Plan is a living breathing document that you can, and will want to, adjust every month, if not more regularly.

If you really want to get on top of your money – control it rather than letting it control you – then you should use Your Spending Plan. It should end up saving you considerably more than it costs each month.

START HERE >> www.yourwealthvault.com.au