TIPS TO PREVENT ONLINE FRAUD

    

    Online payments empower us to make a transaction anytime from anywhere in just a few clicks. But one wrong click can land us in a big financial trouble. So, some safety measures while making a digital transaction are a must.

1. Use verified apps only

    Mobile apps have changed the way we shop and transact. Every time you install an app on your device, make sure you are using a verified app. Whether it’s a financial app or a new game, download only from official play stores like Google Play Store, Windows App Store or Apple App Store.

2. Browse on authorised websites only

    Beware of imposter websites that may look professional or carry the same domain name as the original one in the URL. Look for "https://" before "www" and the lock icon on the address bar of your browser.

3. Use secure connections only

    The urge to use free WiFi at a cafe, hotel lounge or airport can also lead to financial fraud. Avoid using public hotspots for making a financial transaction. Public networks are more prone to the risk of data theft since their encryption can be cracked easily to access your account’s crucial information.

4. Be vigilant while using card

    Always make a card payment in front of your eyes. Be sure that the POS machine is 100 percent genuine. There are dozens of stories about cards being cloned by skimmers since the card was out of sight while the transaction was being done. Don’t let anyone steal your hard-earned money because of your negligence.

5. Don't compromise on security software for phones/computers

    We always want our payments to be secure but how many of us pay attention to our mobile and computer’s security software, web browser and operating system. Update your PC/laptop and mobile security to prevent online mishappenings. Also, always set up strong passwords with a combination of special characters, letters, numbers and upper and lowercase. Don’t forget to change the passwords on a regular basis.

6. Don’t share personal information with anyone

    Never share your personal information online or offline, unless you are absolutely sure about the authenticity of the representative. There can be a possible scammer hiding behind a stranger or any third party posing as an executive from a bank or financial institution. Always verify the identity of the person asking for your financial details. Bank authorities never ask for sensitive information like OTP, CVV on calls. Also, sharing important financial details like bank name, branch, account  number, etc on social media is a big no.

7. Never click on suspicious links on SMS or emails

    Link baiting, spurious emails and SMS are the most common forms of trapping people into fraud. These links may seem genuine and attract your attention with claims of lottery or a job overseas. Do not follow any such links, as they may lead you to a phishing site and rob you off your mobile’s security features. It's better to hang up in case you receive an unsolicited call.

    

    Thousands of people fall prey to banking scams every year with the internet becoming one of the most popular tools to commit fraud. These basic measures can help you protect yourself from being a victim of online fraud. In case your debit or credit card is lost or stolen, informing the bank immediately and getting it blocked is the first step to avoid a financial loss. Timely blocking the card can save your financial security from being compromised.