In today’s digital world, shopping online or making transactions using the World Wide Web and other mobile apps has been the most preferred avenues by many people. While this is one of the most convenient ways to make transactions, keep in mind that online scams are everywhere. This is why you need to take all the necessary precautions, especially when providing your financial details.
According to recent reports, online frauds and identity thefts are still on the rise despite the number of anti-online scams and anti-fraud campaigns. In Australia, about $3,795,385 was the recent amount lost reported due to online shopping scams alone. On the other hand, $2,013,637 was lost due to classified scams, and over $14,370,644 was lost due to buy and sell scams.
In the United States, online payment frauds, data breaches, and phishing are some of the common cyber-attacks recorded recently. Other types of cyber-crimes usually happen in the e-commerce sector include clean fraud, account takeover, triangulation fraud, affiliate fraud, merchant, identity, and reshipping scams.
Whether you’re shopping online, using e-banking, or just any mobile transactions, here are some ways you can do to ensure security of your online transactions:
1. Use a Secured Network
One of the simplest ways to secure your online transactions is to check the network you’re using. Make sure you are under a secured connection. It should be from an encrypted (SSL) internet network that enables you to hide your activities from unauthorized users. This should be always observed, especially when you’re connecting to open Wi-Fi networks. In most cases, you may able to identify secured networks by checking the URL. For instance, the https:// is considered as secured site; while the sites with http:// are usually not secured. Most website owners normally secures their website with basic security PositiveSSL certificate to enable https on the website.
Bonus Tip:
In case you’re using Mozilla Firefox as your Internet browser, you can install an add-on tool called “HTTPS Everywhere”. This provides more security to your browser by generating the SSL protected versions of webpages.
On the other hand, you can install the extension “Prefer HTTPS” if you’re using Google Chrome as your primary Internet browser.
2. Check the Credibility of the Site
As much as possible, avoid making transactions to unfamiliar websites or mobile apps. Make sure to check the credibility of the merchant, especially if they are asking to provide your personal information, bank details, and passwords. Know more about their reputation. Read reviews about their products and services. Dig in more information by asking other people or their previous customers. Choose a more secured gateway when making online transactions. For instance, PayPal, Payoneer, and AlertPay are some of the most trusted online transaction sites.
Bonus Tip:
You can check the credibility of the online merchant by referring to the Web of Trust. You may also install this as an add-on tool to your browser. The information they provide to their site is based on the ratings of the web users and other trusted technical sources.
3. Monitor your Transactions
It is always advisable to keep track of all your transactions, especially when making purchases online. Review your bank statements and sort down the items you’ve been purchasing. If you notice any unusual activities or transaction, report it right away.
Bonus Tip:
You can explore some mobile apps such as You Need a Budget, Mint, and Wally can help you keep track of your online purchases. These are all clean and streamlined apps, which makes them easier to use.
4. Secure your Passwords
A lot of e-commerce sites are requiring passwords and codes. Don’t take this for granted when completing online transactions. Take note that online banking services should not ask for the entire password or pin at the same time. This is one of the most common scams in the digital world. They would “claim” to be your financial agent, and ask for your personal information and other valuable details.
Bonus Tip:
Always remember that most banks or trusted financial institutions usually have 2-factor authentication services. Generally, they can send your passcode or pin number to your mobile phone anytime you make an online transaction. They can only proceed with the process once you have confirmed the purchase by entering the code.
5. Used Advanced Anti-Malware Program
Anti-malware and anti-virus tools can help prevent both classified and unclassified threats on your devices. Make sure to check if your tools are updated. As much as possible, activate the auto-update to both your anti-malware and antivirus programs. These cybersecurity tools are smart investments. Fortunately, there are now reputable security software devices you can purchase online such as Bitdefender total security that works against all e-threats, from viruses, worms and Trojans, to ransomware, zero-day exploits, rootkits and spyware. Check out their monthly subscription packages and compare their features to help you gauge the best security programs for your device.
Bonus Tip:
Bitdefender, AVG, and Avast are some of the trusted brands when it comes to anti-malware and antivirus programs. Again, take all necessary precautions when choosing an online store. Read product reviews and testimonials to ensure your safety.
These are some ways you can do to secure your online transactions. Always remember that scammers and hackers will do everything to get the information they need. Be cautious of your online activities. Never make online transactions using public computers.
If you notice any discrepancies with your credit card, inform your bank right away. If you’re located in the US, you can get help from trusted companies like TransUnion, Experian, and Equifax.
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