A finance expert’s guide to avoiding scams on the internet

In today’s digital age, the internet has become an integral part of our daily lives, offering convenience, entertainment, and connectivity.

However, along with its numerous benefits, the internet also presents a plethora of scams designed to deceive and exploit unsuspecting users. Protecting oneself from online scams is essential to maintain financial security, privacy, and peace of mind.

David McWilliams, a successful economist, broadcaster and author, recently spoke on Liveline about how an AI post purporting to be from him – his image, voice and mannerisms – advocated using a certain financial platform to make money.

I just received this from an elderly follower, who has been scammed

Dear Mr. McWilliams
I saw your interview with Tommy Tiernan and rightly or otherwise, I started with Fintevex with 250 euro. Within days they persuaded 15,000 out of me. I am a senior on a very small pension.…

— David McWilliams (@davidmcw) September 4, 2025

John Lowe of MoneyDoctors.ie provides practical tips and strategies to help you identify, avoid, and respond to common internet scams.

Understanding common internet scams

Before diving into prevention strategies, it’s important to recognise the most prevalent types of online scams:

1. Phishing attacks: these involve fraudulent emails, messages, or websites that mimic legitimate companies to steal personal information such as passwords, credit card numbers, or social security details.

2. Fake websites and e-commerce scams: scammers create fake online stores or auction sites to trick users into purchasing non-existent or low-quality products.

3. Advance fee fraud: promising large sums of money or prizes in exchange for upfront payments, these scams often involve fake lottery winnings, job offers, or investment opportunities.

4. Malware and ransomware: malicious software that infects your device, steals data, or locks your files until a ransom is paid.

5. Romance scams: fraudsters create fake profiles on dating sites to establish emotional connections and then manipulate victims into sending money.

6. Tech support scams: scammers pose as technical support agents, claiming your device has issues and demanding payment for unnecessary or fake repairs.

Strategies to avoid internet scams

1. Be sceptical of unsolicited communications

Always approach unsolicited emails, messages, or phone calls with caution. Legitimate organisations rarely contact you unexpectedly to ask for personal information. Verify the sender’s identity by checking official contact details through official websites or trusted sources before responding.

2. Use strong, unique passwords

Create complex passwords combining letters, numbers, and symbols. Avoid using easily guessable information like birthdays or common words. Consider using a reputable password manager to securely store and generate unique passwords for different accounts.

3. Enable two-factor authentication (2FA)

Whenever possible, activate 2FA on your online accounts. This adds an extra layer of security by requiring a second form of verification, such as a code sent to your mobile device.

4. Keep software and devices updated

Regularly update your operating system, browsers, and security software. Updates often patch security vulnerabilities that scammers may exploit.

5. Be careful with personal information

Limit the amount of personal information you share online, especially on social media. Scammers often gather details to craft convincing scams or steal identities.

6. Verify website authenticity

Before making online purchases or sharing sensitive information, ensure the website is secure. Look for “https://” in the URL and a padlock symbol. Research unfamiliar sites and read reviews to confirm legitimacy.

7. Avoid clicking on suspicious links

Hover over links to see the actual URL before clicking. Be wary of shortened URLs or those that mimic legitimate sites by slight misspellings.

8. Use reputable security software

Install and maintain reliable antivirus and anti-malware programs. These tools can detect and block threats before they cause harm.

9. Educate yourself and others

Stay informed about the latest scams and tactics used by cybercriminals. Share this knowledge with friends and family, especially those less familiar with online security.

Responding to suspected scams

Despite precautions, scams can still occur. Knowing how to respond is crucial:

• Do not engage: if you suspect a scam, refrain from replying or providing any personal information.
• Report the scam: notify relevant authorities such as An Garda Síochána, or your local consumer protection agency.
• Warn others: share your experience to prevent others from falling victim.
• Secure your accounts: change passwords and monitor your financial statements for unauthorised activity.
• Delete suspicious messages: remove scam emails or messages from your inbox and avoid clicking on any links or attachments.

Protecting financial information

Financial scams are particularly damaging. To safeguard your finances:

• Use secure and trusted payment methods like credit cards or reputable digital wallets.
• Regularly check your bank and credit card statements for unauthorised transactions.
• Enable account alerts for suspicious activity.
• Be cautious when asked to transfer money or provide banking information online.

The internet is a powerful tool, but it requires vigilance. By staying informed, practicing good security habits, and remaining cautious about unsolicited contacts and offers, you can significantly reduce your risk of falling victim to scams.

Remember, if something feels off or too good to be true, trust your instincts and take extra steps to verify before proceeding. In an increasingly connected world, awareness and proactive measures are your best defences against online scams. Stay safe, stay informed, and enjoy the benefits of the digital age without falling prey to cybercriminals.

The views expressed here are those of the author and do not represent or reflect the views of RTÉ.

For more information, click on John Lowe’s profile above or on his website.