Afraid Of Digital Banking? Here’s What You Need To know To Avoid Online Fraud

One can make the best utilization of digital transactions by arming themselves with the power of knowledge and basic awareness.

New Delhi: In this new era of digitalisation, are you someone who is afraid of online banking? Well, don’t worry, you are not alone. Though the COVID era sent digital transactions rocketing, many people are still reluctant to take their banking to the internet on account of fraud. One wrong click can land you in numerous financial troubles. However, there are safety measures to prevent such cyber financial fraud, even if you are a regular user of digital transactions.

One can make the best utilization of digital transactions by arming themselves with the power of knowledge and basic awareness. Remember, fraudsters can also avail the benefits of advancements in technology. So, here are the eight important ways to safeguard yourself from online payments.

Use smart, verified apps only

Mobile applications are great for quick access to a variety of services. Whether is a financial app or games app, be mindful of installing applications on your mobile phone and make sure you are using a verified app. Download the applications only from authentic play stores like Google Play Store, Apple App Store or Windows App Store.

Browse only secure and authorized websites

A website might look professional, however, you should avoid making online payments unless you are sure that it is genuine. Be aware of website domain names that may look similar to the original one in the URL. Browse only those websites that carry “https://” preceding with “www” and domain name in the URL.

Use secure connections

The urge to use unsecured public connections can also lead to a problem as it becomes accessible to cyber fraudsters on the prowl. They can monitor your activity and gain access to your smartphone with the help of advanced technology. Hence, if you are going to make an online payment, be sure to do it using a secure private internet connection.

Be watchful while using card

Always make card payments in front of your eyes and check whether the card reading POS machine is genuine. There are ample stories of cards being cloned by skimmers as the card must be out of your sight during making online payments. In case your card is lost, informing the bank immediately and getting it blocked is the primary step you should take because timely blocking the card can avoid financial losses.

Upgrade your computer and mobile security

Keep your computer and mobile phone security software, web browser, and operating system updated to avoid online cheating. Always set your passwords strong with special characters, letters, numbers, and upper and lower case. Remember to change the passwords on a regular basis.

Do not respond to unsolicited calls and messages

We all get fraudulent calls, emails and messages that try to trick us into disclosing personal information. The fraudulent callers may pose as an employee with some bank or financial institution and ask you for your financial details, citing issuing credit cards, free cash back, lottery, etc. Once they get your bank details, they can steal your hard-earned money from your bank account without even your knowledge. Do not entertain these communications.

Do not give ‘remote access’ to your computer

Unless you have contacted a technician to fix your computer, anyone who tries to gain remote access to your computer is very likely a scammer. These types of deceivers will cite reasons like updating your software, operating system or anti-virus and get access to your personal information which later turns into online payment fraud.

Avoid sharing your personal information

Never share your personal and bank-related details offline or online, unless you are absolutely sure about the authenticity of the representative. There can be a cyber scammer disguised as an official from a financial institution. Always verify the identity of the person asking for the bank details and never share your personal information on social networking sites either.

Thousands of people fall prey to these kinds of bank scams every year in this internet banking environment. These tips can help you in providing a protective shield to your bank balance.

(With ANI inputs)