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Don't Be An Easy Prey for Scammers Part 2

Wong Shu Lee  


  May 04, 2021

Earlier in January, we shared some ways to avoid becoming prey for scammers. However, many scam cases are escalating recently. In this article, we will show you some common scam tactics so you can be more alert and cautious. 


Influencer’s Branded Bag Scam


Last month, a local influencer was revealed by netizens that she has been scamming multiple netizens by selling branded bags. She posted pictures of those branded bags, interested buyers would send messages to her to select the bags they wanted and pay the amount upfront. Many netizens have made payments but never received the bags. Eventually, they found out that she was scamming them. 


This incident is a reminder for us to stay wise and rational when buying things. Please keep in mind that it is not safe at all to buy things from people over social networking apps. It is advisable to only make purchases from trusted and secured platforms or authorized retailers, especially for branded stuff. 


TAC Scams



If you’re a frequent user of online transactions, you will know that the Transaction Authorisation Code (TAC) is required to confirm and authorize a transaction. This code typically consists of six numbers and is sent to your registered mobile phone number – meaning that you receive the code offline. This acts as a second layer of security should your online banking or credit card information get compromised. This form of security is known as “two-factor authentication”, as it requires confirmation of action via two separate mediums.


Now, if an individual manages to obtain your credit card or online banking information, the individual can easily use those to perform fraudulent transactions. But with two-factor authentication (commonly abbreviated as 2FA) enabled, you will need to authorize every transaction by inputting a code sent to your phone. Without this, the transaction cannot be completed.


The obvious and simple way to avoid this scam is not to give your TAC to anyone. However, as it turns out, TAC scams are becoming prevalent in Malaysia


How to Avoid TAC Scams


One thing everyone should know: TAC codes cannot be wrongly sent to a different number! A credit card is tied to the cardholder’s phone number, which means all SMS notifications are sent to that number and nowhere else. Let's say if someone really mistakenly filled in a wrong phone number while applying for a credit card, he/she can’t even activate the card. 


That’s all for today. If we come across any new scam tactics, we will continue to share here to make sure our readers are aware of all these common scams and know how to prevent them. A useful rule of thumb is to ask Mr Google for more insights before you take any actions that are possible to lead to financial loss. 


Stay wise and alert! 



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