The internet has transformed numerous industries with online connections, allowing customers to fulfill transactions in a matter of seconds. While this comes with benefits such as convenience, efficiency, and cheaper services, it also poses threats such as banking fraud. For this reason, Kevin Cohee advises customers to take proactive measures in securing their data.
Keep Your Devices Up To Date
Unknown to many, outdated software on your computers and mobile devices will be the first point of concern when dealing with online fraud. If your devices are not updated regularly, they could introduce a significant threat due to spyware targeting confidential information resulting in breaches in your financial accounts. Kevin Cohee suggests using the latest security software as it equips you with the best defense against opportunistic threats.
Avoiding Non-Authorized Websites
Due to the influx of online businesses, non-authorized websites have also increased, with customers often not able to differentiate between secure sites. A professional website will include “https://” preceding the “www” and a domain name in the URL, signaling an authorized connection. Misspelled names could often be a sign of a non-authorized website, in which case you should avoid making payments on such sites.
Use Secure Internet Connections
On average, 5 billion people have access to the internet, with many connections originating from the dark web. Unlike secure connections, the dark web comes with setbacks such as cyber fraudsters leading to unknown users monitoring your activity. Making an online payment through such a connection can compromise your personal banking information with millions of funds siphoned off to offshore accounts. To avoid this, ensure that you conduct your payments through secure and private Wi-Fi connections.
Do Not Respond To Unsolicited Emails and Calls
You may occasionally come across emails and calls from fraudsters pausing as bank employees asking for your financial details or offering prizes such as free cash back. While they may often seem valid and urgent, giving them access to your personal information will likely allow them access to your account. Avoid entertaining such calls and hang up immediately. Where possible, alert your bank to enable them to follow up on the calls and emails to avoid other clients falling for such schemes.
Use Strong Passwords
Strong passwords are another guarantee that allows you to avoid banking fraud, with scammers finding it challenging to bypass such security measures. Rather than using common passwords such as the date of your birth or loved ones’ names to secure your accounts, consider changing to passwords with at least eight characters long. They should have a mix of uppercase and lower case letters, with special characters and numbers allowing you to get the most out of this security measure.
Keep Track Of Your Card
If using your card to pay for your restaurant meals, delivery, or payments at the shop, always ensure that it is in your sight. Additionally, confirm that POS machines are genuine and operated by authorized personnel. If this is not the case, Kevin Cohee suggests avoiding using cards in such outlets to minimize the chances of fraud.
In the wake of increased banking fraud, staying alert will be the safest bet to help you avoid fraudulent incidences, allowing you to secure your finances year-round. Make it a point to check the safety of your internet connections, use updated software on your devices and keep track of your card when out in public.