Would you be able to spot a scam?

With high-profile data breaches on the rise we should all become more aware of how to spot online scams. Here’s BDO partner Stan Gallo’s advice on what to look out for.

Recent highly publicised data breaches have given rise to a wave of indignant responses about organisations that collect and hold our personal information – and rightly so, but rarely do people stop and think about the multitude of ways we distribute our information, increasing our risk of being scammed.

With Scams Awareness Week commencing next week, it is a timely reminder to get familiar with how you can spot a scam by bringing cyber awareness to everyday activities. Updating the operating systems across all your connected devices, avoiding questionable email links or attachments, and not providing data or giving ‘free’ apps and algorithms permission to track your every move are all simple steps that can make a big difference. Also remember the less obvious things such as not resetting your synchronised phone and GPS data when selling the family car.

Be wary of ‘free’ software and understand what you are actually signing up for. Be cautious about what information you publish about yourself, family, friends, and movements. Of course, you should also be actively using multifactor authentication where it is available.

User data is often packaged and sold off for marketing and research purposes as well as revenue opportunities through ‘customised’ advertising tailored to the audience to maximise appeal. Have you ever wondered how these apps ‘customise’ their advertising? All of this detail is buried in the terms and conditions which you agreed to when you checked that “I agree” box.

BDO partner Stan Gallo.

In some instances, regulatory assistance is certainly required. Can you imagine trying to open a new account or sign up to a service while refusing to let the organisation take and retain copies of your sensitive personal information? In these cases, there needs to be controls around exactly what, and why, personal information is sought and retained by organisations.

Australia is certainly not immune, with recent cyber events highlighting the need for ongoing vigilance and proper security controls at the organisational level, however the onus is not entirely on businesses as every individual has a role to play when it comes to protecting personal data.

Stan Gallo is a partner in BDO’s forensic services unit in Brisbane.