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Keep your investments secure with a simple guide to scam-free domain purchases.
Whether you wish to build a beautiful blog or start a small online business, you’ll need a domain name for it—hopefully, you’ll find one that's short, catchy, and straight to the point.
However, when it comes to buying a domain name for your website, it's crucial to tread carefully and avoid falling victim to common domain scams. If not, such a fall could lead to financial losses, stolen sensitive information, or damage to one’s reputation.
So what are the most common domain name scams? How can you avoid them?
What Are the Most Common Domain Name Scams?
Before buying a domain name, you need to be aware of the most common scams that malicious actors employ to trick unsuspecting buyers. By understanding them, you can shield yourself from such scams and make smarter decisions.
So, here are the most common domain name scams you should watch out for.
Phishing Scams
In this scenario, scammers may send fraudulent emails or create fake sites that look like legitimate domain registrars. This way, they’ll try to trick you into surrendering your personal information (such as login credentials and credit card details) and compromising your security.
Social Engineering Scams
Here, scammers use persuasive tactics to manipulate you into sharing sensitive details or transferring funds. They take advantage of trust and create a sense of urgency to trick you into this.
And if anyone’s offering you a simple way to get free money, it won’t be free at all.
Fake Escrow Services
Yes, fraudsters can even pose as reputable escrow services that offer a secure transaction process for domain purchases. However, once the payment is made, the scammer will buzz off, leaving you without the domain or your money.
Man-in-the-Middle Scams
In Man-in-the-Middle scams, the fraudster intercepts communications between you and the legitimate seller. The point of this cunning scheme is to redirect funds or alter transaction details, leading to unauthorized transfers—a financial loss for you and profit for them.
Domain Appraisal Scams
Some scammers offer domain appraisal services but provide false evaluations, spiking up the value of a domain or offering misleading information to trick buyers.
Remember: if a deal seems too good to be true, it’s probably a scam.
By staying informed and being careful, you can significantly reduce the risk of falling victim to a whole variety of domain name scams. If you’re running a business, you’ll certainly need to learn about the cyberattacks that businesses commonly face.
Source from MakeUseOf.COM
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