Connect with us

How to

How to Protect Your Online Transactions



How to Protect Your Online Transactions

It was estimated that damages incurred through fraudulent transactions would surpass $12 billion by the year 2020, but a Juniper Research reported that online transaction fraud would more than double to $25 billion by 2020. $21.84 billion was the staggering amount incurred in 2015 suffered by banks and e-merchants credit, debit, and pre-paid payments and transactions due to fraudulent losses, which was a remarkable 40% of the total loss incurred from fraudulent transactions worldwide. By the end of the decade, $4 will be stolen from every $1000 e-payments. 

As more and more people are doing online shopping and banking, stricter measures were implemented like the CHIP and PIN services at POS (Point of Sale). But it has led cyber thieves to divert their attention to CNP (Card Not Present) transactions. e-Retail, banking, and airline ticketing are among the worst affected and most targeted by thieves because together, they make up 98% of online fraud. 

According to Juniper, the popularity of mobile payments, booming e-commerce industry, increase in the flow of money globally, data breaches, and Card not Present (CNS) fraud all contribute to the exponential growth of online payment frauds. 

As horrible as all these sounds, you can protect yourself whenever you make any online transactions. It would be best if you defended yourself as you enter any environment, digital, or reality. Your security is your responsibility, and being aware is the best prevention to cyberattacks and online fraud: 

  • Regularly update your OS, apps, and software on all your devices. 

A trait of hackers is that they are resilient. Hackers are working hard to find more and more ways to intercept online transactions, so you need all your devices to be in their best shape, security-wise. Let us talk about software updates. It is easy to ignore. In a fast-paced working environment and social life, you may not even have “update software” as one of the priorities in your day. Although most software updates take up only a few minutes of your time, the task seems mundane and unimportant. Being lax is the kind of mentality that hackers hope you have as apps and OS that is not updated is, sort of, fair game for them. Official updates serve to patch any vulnerability in the system or to introduce any new features that they have added to help you better. All types of OS and apps have weaknesses, one way or another. But having outdated OS and apps have known vulnerabilities that a hacker with enough technical know-how can exploit. And exploit it, they will. It is an opening to access your sensitive information.

In September 2017, Equifax experienced a data breach. Hackers were able to access user’s sensitive information, not through Equifax secure servers, but their web application. The vulnerability was Apache Struts CVE-2017-5638. The company that maintained the framework of the web application sent a statement that informed Equifax of the vulnerability and issued a patch on March 7, 2017. Equifax did scans of their system but did not find any issue with it, so the web application went unpatched till July 2017. Equifax’s information security department then discovered suspicious activity on their network portal to the point that they disconnected it to undergo investigation. Equifax hired cybersecurity investigators that found out that145 million Americans, 8,000 Canadians, and around 690,000 UK Citizens had been affected by the data breach.

The Equifax data breach is a clear example of how important software updates for maintaining security online. Software developers are continually testing and updating their systems. Official updates serve to patch any vulnerability in the system or to introduce any new features that they have added to help serve you better.

  • Use advanced security software and VPN.

Online Transactions

Security software installed on all your devices should not even be a question anymore. It should be a top priority, not an afterthought, or just an option. Make sure you get the best anti-virus and security software that will give you total protection, especially on all your banking and shopping transactions online. Turn the auto-update feature on so your software can detect and defend from new malware threats. Run virus scans regularly and use ad-blocking and spyware detection software. 

Always use a reliable firewall security system, and use a Virtual Private Network or VPN to protect your online transactions further. VPNs “hide” you and encrypt all data you send in your network, including confidential information such as credit card details and the like.

  • Shop only from secure websites

Shop only from secure websites

Photo by Pexels

Only shop or make payments with trusted websites and apps, since you will be encoding sensitive details. Only browse with sites that have the small padlock symbol in the URL strip, called the TLS or transport layer security.

Avoid browsing in “HTTP” websites. Only browse from secure sites that start with “HTTPS.” The “s” stands for “secure.”

  • Use your Credit Card or PayPal when shopping, never your debit card.

Use your Credit Card or PayPal when shopping, never your debit card

Photo by Piqsels

Make sure that you use your credit card, not your debit card when shopping online. Your debit card is connected to your bank account, and it is highly risky to buy online with it. Credit cards also have spending limits, which is a good layer of protection that comes in handy in the case of credit card loss or theft. Some credit cards are only meant for online shopping and not withdrawing money. These specific-use credit cards are an excellent way to stronger online security.  PayPal is also a safe way to shop, and you can securely connect your bank account to this app as well.

  • Use strong passwords and never shop or bank online on public WiFi

Use strong passwords and never shop or bank online on public WiFi

Photo by NeedPix

Never shop online or do bank transactions when you are on public WiFi. Hackers prowl these free internet networks to plant malware in devices, steal data, or other kinds of cyber thievery. Do not use computers in public places as well, like libraries or internet cafes, because the computers in these public places can be manipulated by tweaking their hardware or software. 

Should you feel the need to access networks through an unsecured environment such as public WIFI, be sure to set a complex password with an alphanumeric combination and unique characters. Change it once you have a secure connection again. Consistently update your passwords as well to secure yourself better, especially when you are travelling.

  • Disable Automatic Login

Disable Automatic Login

Photo by Pixabay

Automatic login may be convenient for you, but it is not safe to do so. Your browser keeps your username and password data allowing you to automatically access your account without typing those details down each time. Even if you are using a personal computer or device, there remains the chance this information can be accessed and intercepted. You need to avoid automatic login at all costs, primarily if you use your phone for online banking. What if someone happens to swipe your phone? They won’t even need your username or password to get into your bank account. Disable this feature on your phone and your desktop right away!

  • Look for Digital Certificates

Look for digital certificates that validate the identity of the websites you are transacting with. Independent, third-party services like VeriSign can do this authentication. Web sites that use this service will have the VeriSign logo to assure you the site is legitimate and can securely collect your personal and financial information.

  • Keep records of your online transactions and watch your credit card statement.

Keep records of your online transactions and watch your credit card statement.

Photo by Piqsels

After making online purchases or transactions, check your email. Legitimate merchants should send confirmation emails confirming your order and payment. Make sure you buy from providers and sellers that give you a way to track your order, and that has excellent customer service support in case you encounter problems in the process. But scrutinize the email receipt for any suspicious differences, wrong spelling, or incorrect grammar to avoid phishing scams.

  • Avoid Opening Suspicious Emails

Phishing emails are malicious emails that are sent by hackers so they can get your private data, especially your credit card details. The emails will appear legitimate, but a closer look would reveal that the source is fictitious, and the person may be a hacker. Never bite the bait of phishing attacks. When you receive suspicious emails, delete them right away without opening them. In case you fall victim to a phishing attack, contact your bank right away to have your credit card put on hold and report any illegal payments done through your account.

  • Download Your Bank’s Mobile App

Instead of accessing your bank through your desktop, download its mobile app. Computers get targeted with the most malicious attacks more than mobile devices. So, accessing your cellular network and logging into your bank account may be a lot safer to do so in a mobile app.

Conclusion: Better to be Secure than Sorry

It may be cumbersome to secure your devices and follow security protocols when doing your online transactions. If you suspect any duplicitous use of your credit card, inform your bank immediately. The sooner you report loss, theft, or suspected identity theft, the better. Always buy from trustworthy vendors and always be aware of the latest cybersecurity trends and threats to know the best measures of protection you need to follow because it is better to be secure than sorry.

Continue Reading
Click to comment
Social Media
Startup5 hours ago

Without Social Media Stats you can’t Live

AVG Antivirus software
Computer5 hours ago

Things to follow while purchasing Antivirus Software

Buy Instagram Likes
Digital Marketing4 days ago

7 Social Media Marketing Tips That Every Marketer Should Know

Technology4 days ago

How UX Designers Can Extravagantly Take Tips From Netflix

Artificial Intelligence
Technology6 days ago

Artificial Intelligence Transforming Education

Fantasy sports app
Apps1 week ago

Top 10 Sports Betting App and Software Development Companies 2020-21

Design Software
Software2 weeks ago

7 Ways Design Software Assists to Improve Online Sales

Seo Required
Digital Marketing2 weeks ago

Why is SEO required?

mobile apps
Startup2 weeks ago

Important Things To Remember Before You Launch Your App

QuickBooks Error 1601,1603,1642
Business2 weeks ago

QuickBooks Error 1601,1603,1642

Technology Trends in 2020
Technology2 weeks ago

Latest Technology Trends that Explore in 2020

Website Optimization for Mobile Devices
Digital Marketing2 weeks ago

How Website Optimization for Mobile Devices Leads to Success for Businesses

Managed IT Support Fort Worth, tx
Tech2 weeks ago

IT Support Fort Worth Services (2020)- For Small & Mid-size Businesses

How to Protect Your Online Transactions
How to3 weeks ago

How to Protect Your Online Transactions

Fitness Mobile Apps
Startup3 weeks ago

How Fitness Mobile Apps Can Help In Improving Your Fitness?

McAfee Security
Education3 weeks ago

McAfee Security

On-Site SEO and Off-Site SEO
Digital Marketing3 weeks ago

Which Is More Important On-Site SEO Or Off-Site SEO?

Cyber security
Tech3 weeks ago

5 Cyber Security Steps Your Employees Must Take on a Quarterly Basis

Windows VPS Hosting
Web Hosting4 weeks ago

A Detailed Analysis To Windows VPS Hosting

iGaming Software
Apps4 weeks ago

Top 10 iGaming Software & Website Development Companies

.NET Framework Programming
Technology1 month ago

.NET Framework Programming– Architecture, Usage and Advantage

Tech me News, Technology News, Latest Gadgets News Tech me News, Technology News, Latest Gadgets News How to Start Your Online Gambling & Betting Business
Mobile1 month ago

How to Start Your Online Gambling & Betting Business

Construction management software
Apps1 month ago

Top 10 Construction Management Software

How To Make A Successful App?
Apps1 month ago

How To Make A Successful App?

Tech1 month ago

Is Cybersecurity Ready For AI And Machine Learning?

algorithmic trading strategies
Business1 month ago

Important Things You Must Know About Algorithmic Trading

Learn Stock Trading
Business1 month ago

Great Ways to Learn Stock Trading as a Beginner

RPG Programmers
Technology2 months ago

IBM’s proprietary Report Program Generator (RPG) programming language

Modern SEO Expert
Digital Marketing2 months ago

What is a Modern SEO Expert?

Software Testing
Software2 months ago

Is AI Expected to Kill the Need for Software Testing?

Hack Facebook Messenger Through Cell Phone Spy App
Apps1 year ago

Hack Facebook Messenger Through Cell Phone Spy App

Mobile App Development
Apps1 year ago

Effective Ways to promote custom Apps for Mobile App Development Company

Videomate Download
Apps11 months ago

Managing Video made easy with Videomate Download

Root Genius Android Apk
Apps1 year ago

Best rooting apps for Android 2018

how to setup a Netgear WiFi extender
Tech1 year ago

What is mywifiext local and steps to access the smart setup wizard

Food Delivery App
Apps1 year ago

4 Amazing Steps to Develop A Food Delivery App

How You Can Improve Your Existing Business App
Apps12 months ago

How You Can Improve Your Existing Business App

Create Videos
Apps1 year ago

The 4 Tools Not To Be Missed To Create Videos to Be Published On Social Networks

Magento Boosts Security
Tech1 year ago

Magento Boosts Security, Performance And Visibility Of Your Site

Zoom vs WebEx
Software1 year ago

Zoom vs WebEx – Which is better?

Startup3 years ago

Highlighting the Legacy of Jacob, the Jeweler

E-Commerce Business Need Its Own Mobile App
Apps1 year ago

Great News! Why Does Your E-Commerce Business Need Its Own Mobile App?

How to Register IDM without License Key
Software1 year ago

How to Register IDM without License Key

How to Spy on Someone’s Computer Without Them Knowing
Tech1 year ago

How to Spy on Someone’s Computer Without Them Knowing

Healthcare Training Data
Education1 year ago

How Annotation of Medical Image Data is Done?

AT&T Internet Security McAfee download
News10 months ago

AT&T Internet Security McAfee download for real-time protection

Best Android Apps
Apps2 years ago

Best Android Apps for December 2018

Vidmate Apk Deciphered
Apps11 months ago

Vidmate Apk Deciphered

Apps3 months ago

On-Demand Mobile Apps that will Make Your Life Easy

app development
Apps1 year ago

Here’s How to Calculate the Cost to Make Your Own App

A Full Guide on How to Keep Your Desk Neat and Clean
Gadgets1 year ago

A Full Guide on How to Keep Your Desk Neat and Clean

Kenya Tanzania Budget Camping Safari
Entertainment3 years ago

Way to Choose The Best Kenya Tanzania Budget Camping Safari

Uber Clone Scripts
Apps7 months ago

Top 5 Selling Uber Clone Scripts In The USA, UK & European Market

Machu Picchu Tours
International3 years ago

Get Connected to Bunnik Tours to Get the Best Out of Machu Picchu Tours

mobile app development
Apps5 months ago

How to Find Mobile App Development Company in Canada

Using Big Data for Prescriptive, Predictive and Genomics Analysis
Tech1 year ago

Using Big Data for Prescriptive, Predictive and Genomics Analysis

Affordable SEO Packages
Digital Marketing9 months ago

Best Affordable SEO Packages for Small Business Good Pricing

spy camera app
Apps7 months ago

How To Spy On Someone Through Their Phone Camera with TTSPY

Tech1 year ago

How Can You Benefit From Machine Learning?

Online Activate Mcafee Antivirus | Update 2019
Software1 year ago

Online Activate Mcafee Antivirus | Update 2019