"We've all let our guard down" — When Shark Tank investor Robert Herjavec warned about rising online scams and how to stay safe

On May 31, 2023, Good Morning America interview, Robert Herjavec, celebrated Shark Tank investor and CEO of international cybersecurity firm Cyderes, spoke about the increasing menace of online fraud. He described the changing demographics of scam victims, saying,

"You know it's funny it used to be older people or really young people but with everybody working from home we've all let our guard down."

As the world becomes more online and remote working increases, vulnerability to fraud through the internet has grown. Herjavec explained how one could identify and avoid falling prey to such scams that have evolved in their sophistication.

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Shark Tank Robert Herjavec's insight on understanding online scams and staying protected

The rising threat of online scams

Robert Herjavec underscored that the rise in online fraud is closely tied to how individuals engage with their digital devices, especially as working from home has become more prevalent. The Shark Tank investor pointed out,

"In the past, we'd be at the office and email comes, doesn’t look right, we'd be vigilant...Now we're all at home getting personal emails, work emails."

This shift in setting has made people less vigilant and more prone to phishing scams, fake emails, and other scams. Scammers' ability to easily target people has also made it more difficult to identify valid communications and threats. Herjavec also noted that scams targeting individuals have become more believable.

"They are so good now that even I sometimes get these emails from banks that look exactly like that," he explained.

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How to spot a scam: Tips from Herjavec

The Shark Tank investor shared several practical tips for identifying scams. One of the most straightforward methods is to check the sender's email address.

"If it doesn't have the actual address of the bank in there, it’s not real," he said.

He also suggested checking emails for evidence of grammatical mistakes. Spammers tend to miss these things, and catching them can be an unmistakable sign that the email is not real. Another important tip is to be wary of unsolicited requests for personal details.

"No bank or financial institution will ever ask for your PIN number or personal data," Herjavec emphasized.

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Protecting yourself from scams: Best practices

To better protect oneself from scams, Herjavec recommended using certain tools and practices. One of the most useful is a password manager, which is commonly integrated into many web browsers.

"I like using those because the more passwords you got out there, the more at risk you are," the Shark Tank investor explained.

Another key safety feature is allowing two-factor authentication (2FA). Though it might be annoying, Herjavec noted that "there's one of the safest things you can do." Two-factor authentication provides an additional layer of security by asking for further verification upon logging into accounts, which makes it more difficult for scammers to access even if they have a password.

Herjavec also mentioned the matter of privacy, particularly in relation to personal devices being used for business. He mentioned that one needs to be careful about what goes on with personal phones because of fears regarding privacy and ownership of the data.

Since most individuals use their phones for professional purposes, it is important to know the possible dangers of keeping confidential data on these phones.

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