Ways to keep your money secure online

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Cybercriminals and fraudsters are busier than ever because of technological advancements and increased internet penetration. Due to the pandemic and lockdowns, more and more activities have moved online, which has resulted in an upsurge in online fraud. Scammers and fraudsters are always inventing new techniques to deceive people.

People must take safety precautions and be informed and cautious while dealing online, according to industry experts.

Here are some tips for keeping your money secure online:

OTPs and QR codes

OTPs and QR codes are two types of security codes. Because one-time passwords, also known as OTPs, are the same as regular passwords, sharing them with unknown organizations might result in financial loss. Scanning unapproved QR codes (Quick Response) might potentially result in a loss of funds.

            Scanning any QR code may also collect information about a person’s wallet, bank account, and other personal information, which can later be abused. As a result, do not distribute your OTPs or scan random QR codes; instead, double-check that they are genuine.

Choosing a link

It may appear to be genuine mail or an authentic link, but scammers send mail that has been disguised to appear genuine, which is phishing. These might be communications from legitimate businesses like banks and insurance organizations. Most individuals cannot discern between real and fraudulent links, according to experts, therefore it is best to avoid clicking any such links at all.

Keeping track of card information

The majority of individuals keep their debit and credit card information for use on a variety of websites and platforms. You may also disable auto-fill in your browser, as well as any credit card’s online and tap-and-pay capabilities through the bank’s mobile app or website.

            Turning it off may cause some inconvenience, but experts think it will undoubtedly improve the security of online transactions.

Tap and pay cards

It is a new technological innovation that allows you to pay without inputting a pin or code. Even while this capability allows for easy access without requiring a PIN, it might be inconvenient if the card is forgotten or stolen. To maintain safety, experts recommend limiting or blocking access to this institution.

Unsubscribe from promotional emails

Offers, discounts, and promotions, according to industry experts, draw a lot of attention, and most consumers fall prey to fraudsters through promotional communications. As a result, unsubscribing from these promotional offers is the easiest method to avoid frauds and falling victim to fraud.

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