Protecting Your Financial Information Online


October 24, 2015

With the greater convenience and efficiency offered by online financial transactions, the need to safeguard your information has also increased. More and more people are using the internet for shopping, banking, paying bills, booking tickets etc. However, on the flip side, hackers have also found an easy way to steal the users’ confidential data such as passwords, credit card details, account numbers etc.

Here are some tips that will help to protect your money when you are making online transactions:

  • Be Careful Of Spammy Links: You should always type in the URLs manually for websites where you need to carry out any financial transaction. Clicking on links sent in emails, chat rooms, social networking sites and banner ads on suspicious websites may redirect you to a spam website.
  • Pick A Complex Password: One of the biggest mistakes most people make is using their personal information, like name, pet’s name, date of birth etc., as passwords for online accounts. There are many programs that scan personal information through Facebook accounts and make it easier for the hackers to guess passwords. Make sure you create a strong password, at least 8 characters comprising of letters, alphabets and special characters.
  • Check The URL: While visiting a website that requires entering your sensitive information, you should check and verify that the link is genuine. You should carry out financial transactions only on websites that start with ‘https’. This will ensure that the data you enter is properly encrypted and secure.
  • Get An Additional Credit Or Debit Card: You can also consider having an additional credit or debit card to be used solely for online transactions. Restricting limit for the credit card or holding a limited amount of money on your debit card can help to mitigate the consequences of a hacking attack.
  • Eliminate Vulnerabilities: You should always keep updating the operating system and the applications on your device to eliminate any vulnerability that can be used for malicious purposes. The anti-virus and anti-spyware software should also be installed and regularly updated with the latest security patches.
  • Avoid Using Public Computers Or Internet: As far as possible, you must try to avoid accessing your online banking or shopping accounts on public computers. These systems might not have proper security updates installed and intercept your personal information. Even when using a personal device, avoid connecting to an open or unknown Wi-Fi network. It is possible that hackers might be intercepting the traffic or decoding the information you are sharing over the network.
  • Use Virtual Keyboard: When banking online, you should use virtual keyboard to enter your password or other important details. It automatically encrypts your details and reduces the risk of password theft.

By following the above mentioned tips, you can efficiently protect your personal and financial information from being accessed by the cybercriminals.

,

Comments are closed.