Online shopping is one of the best options for meeting your buying needs. However, it can also turn out to be your worst nightmare. You need to be more cautious about e-purchases because you can easily lose your money to cyber thieves.
As a matter of fact, according to Juniper Research, online payment fraud losses are expected to exceed $200 billion in the next 5 years. This is because of the increasing number of sophisticated fraud attempts and attack vectors.
So to be on the safe side, you need to take care before carrying out any online transaction. The good news is that we bring you some of the important practices that will keep your money safe.
Dive in and learn about the best tips for secure online transactions you need to know.
1. Use safe and popular banking methods
The online banking industry has many different types of payment channels but you need to be careful before going for any. You have to check its reputation on the market. It is also better to look at customer reviews to know other shoppers’ experiences with a particular banking method.
Remember most of the e-payment methods require you to link your bank account or credit card to them. This explains why you have to ensure it is a trusted and the best reviewed online banking channel before giving it your account details.
2. Buy from trusted portals
Before making any purchases on a given online shopping website, you need to confirm its legality. Scammers also set up different sites with jaw-dropping offers that set you into traps of losing your money.
In fact, it is better to go for the most popular e-commerce platforms with verified traders who have been in business for some time. On top of that, it is advisable to type in your browser the website address with https instead of using Google search results.
This is because the practice takes you to the exact platform instead of the many search results that include fake ones.
This practice applies to all online businesses. You need to buy from safe and popular companies for the best buying experience. For example, in India, Flipkart is a great place for all your online shopping, and for online gaming you should always use trustworthy platforms when playing roulette.
The good news is that decent comparison sites only suggest safe operators with the best casino bonuses. In addition, you’re able to read reviews, and understand how all the different types of promotions work. They have all the guides to help players understand and make informed decisions.
3. Avoid using public WiFi connections
Public WiFi connections aren’t safe for online shopping. For example those at cafes, airports, and hotels among others. This is because they are a target of many cyber thieves waiting to hack into your sensitive information.
They compromise your security and you should avoid entering your passwords using them. The best practice while outside is to use your mobile data connection for shopping because you are protected by the network provider. You can use the public WiFi for other things like streaming music. To keep you more informed, learn about 5 cybersecurity myths that are compromising your data you must know.
4. Log out after shopping
Many online shoppers make the common mistake of not logging out after purchasing. You need to log out of the e-commerce website after shopping to keep your account safe. This is recommended because if anyone is able to access your device, they can make purchases without you knowing. .
Your banking accounts are already linked to your account on the e-commerce platform. And this makes it easier for any third party who may access it to use your money.
5. Create strong passwords and change them often
You need to create unique and strong passwords for all of your online accounts. It is advisable to create one mixed with numbers and words that can’t easily be guessed by anyone. However, you must avoid using birthdays, marriage anniversaries, your names, or those of your family members.
This is because hackers can easily guess them and also find the details on any of your documents. To assist you further, there are guides online on how to create stronger passwords.