Subscription Scams | Enterprise Security Magazine

As part of a new scam, Scammers are using subscription renewals to access victims’ computers and their personal information as per Enterprise Security Magazine.

The scammers will contacts the victim, advising them they have a subscription pending that is about to be automatically renewed and that will cost the victim a couple hundred dollars. Most of the time they’ll be requesting your payment card details as proof of identity and age, then retaining those details to draw monthly payments from your account. You’ll be committed to it by their terms and conditions and will not be able to cancel an agreement or stop payments being taken from your account.

How the Subscription Scam Works:

Subscription scammers trick people into signing up for subscription services.

> Most of the time, the scammers will target elderly people who will fall for their scam

> You might suddenly phone call with an amazing deals that can make you buy the product right away. And later scammers will contact you again and pressurize you to sign up a subscription.

> Once you signup for subscription, they’ll provide you a hidden print. At first you’ll receive few issues for free, and later end up with a massive bill.

> The charges will be hidden from your bank account, so it’ll be hard to recognize.

> In case if you found it and report or close the bank account, the scammers will try to threaten you saying they have to close the bill or they’ll file a case against you.

Tips to Avoid subscription traps:

> Make sure the terms and conditions box is not pre-ticked.

> Before making a payment, read the terms and conditions carefully.

> Before researching about the company, never provide your bank details to them.

> Keep an eye on your bank details, whenever you feel an unexpected payment has been done, report it or close the card immediately before further debit.

Subscription scams are on a rise now and have unfortunately become a common strategy for looting people out of their money.

If you fall victim to one, act quickly to prevent additional charges and try to recover your money.

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Enterprise Security Magazine Scam | Enterprise Security Magazine Spam