Protecting Your Treasures in a World of Scams

Have you heard of a scam using AI to create “deepfakes” which uses well-known personalities, like our PM or DPM, to promote diving into crypto-currency?

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Were you aware that “too good to be true” ads in Facebook should be avoided because scammers can steal your personal information?

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Have you received a notification of a new system to protect your money in the bank by locking it so that it cannot be transferred online?

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The year ahead seems full of pitfalls for those who are unaware of what is going on in the cyber world. We can only look forward for more elaborate and devious scams which target our trust in people and systems. “I am sending you out like sheep among wolves. Therefore be as shrewd as snakes and as innocent as doves.” (Matthew 10:16)

What is the solution recommended by the authorities? Basically, exercise caution and be suspicious towards online content. Even if you see our PM promote some product or service, you cannot believe it without first relying on official channels to verify information.  “Where large sums of money are concerned, it is advisable to trust nobody.” – Agatha Christie

A chuckle-worthy irony is the solution provided by a bank which allows you to lock up your money in a digital vault so that it cannot be touched remotely by a scammer. To access the money, you will need to personally go down to the bank to transfer or withdraw the money. This solution seems to bring us back to the old days before online banking. The only drawback is that in the past, there were more branches where we can go to transact with the bank and now many branches have been closed down because of online banking.

While the cyber world may present challenges, let us remember that our true treasures lie beyond its reach.

“Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.” (Matthew 6:19-21)

Martin Cheah

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