Answer:
True
Step-by-step explanation:
Phishing scams, disguised as reputable entities, trick users into visiting a fake website, requesting account updates or verification details, potentially stealing financial information and threatening their financial security.
How to safeguard yourself:
- Avoid responding to unwelcome inquiries for personal information because phishers may pose as legitimate companies and use fake padlock icons. Don't give any information if you didn't start the conversation.
- Review account statements frequently for accurate charges, get in touch with the financial institution if you notice a delay, and check your electronic account access from time to time for any unusual activity.
- As financial institutions wouldn't ask for account verification online, it is best to avoid providing passwords over the phone or in response to unauthorized internet requests because thieves may use this information for their own gain.