Ms Julia Chin, the Head of Compliance at Hugo, with over 20 years of experience in risk management and compliance at international financial institutions across Asia and the Middle East, along with Fraud Analyst, Mr Chiah Tian Ming, advised the below:Strengthen your account security by using sophisticated and unique passwords and storing them safely for reference.
Don’t fall for social engineering schemes such as phishing emails and texts, scam calls and scareware .“Apparently, even something that looks as legitimate as Google Ads can be used by scammers to cheat unsuspecting victims of their money,” said the Hugo experts. “So checking URL accuracy and certification is a best practice we should all have.”
Ensure that a website has valid Secure Sockets Layer certificate, which authenticates a website’s identity and provides an encrypted connection between a web server and browser. Use 2-factor authentication when possible because this is a fundamental way to add extra security to your online activity.Routinely log out and clear your caches just to be safe.“Cybercriminals are not bumbling idiots, and scammers are a persistent and hardworking bunch. While we’ve heard many funny stories of failed schemes, there are also tragic anecdotes of people losing their fortunes,” said the Hugo experts.