Every day, billions of dollars are transferred using the online payment facility. Internet has made things a lot easier than the past. Anyone can transfer money overseas and order products online with online payment facility. But, along with the rise in online transactions, internet fraud has also come on the rise, making ‘how to prevent internet fraud?’ a common concern of almost everyone out there.
Online hackers are always looking for potential consumers whom they can target to steal money using various ways like:
- Identity theft
- Email solicitation
- Credit card fraud
- Auction frauds
- Investment frauds
- Online dating scam
According to Javelin Strategy & Research’s 2015 Identity Fraud Study, hackers pinched $16 billion from 15.4 million U.S. consumers in 2016. In another study conducted by Identity Theft Resource Center, it was reported that there were 1,339 recorded data breaches in 2017.
Of course, you can choose to report a fraud if you become a victim o online fraud, but it’s always good to stay secure and prevent yourself from being a victim. The following 5 steps will describe how you can save your investments from hackers.
Get Identity Theft Insurance
Yes, it’s available in the market now. If you have never heard this type of insurance schemes, then you must be surprise if there is any such thing available. But, it is true that you can now protect your finances with a simple investment in identity theft insurance policy. These insurance policies are designed for those who want to get compensation if their identity is stolen, giving you peace of mind as you know that you will stay financially afloat during this otherwise difficult time.
Keeping yourself insured with a custom policy is always the right choice, rather than asking yourself how to prevent credit card fraud or how to report a fraud.
Use Secure Platforms
This is the best way to ensure that you are enjoying all the benefits while being secure too. Using online platforms that are secure using latest technologies shall always be prefer as this offers a guarantee that your hard-earned money is safe and secure. Avoid using platforms that are not secured with SSL license or any other technology.
Keep Your Passwords Secure
Most people make the same mistake of keeping very simple passwords even for their most crucial accounts like bank accounts. It is good to avoid using easy-to-detect passwords like mobile numbers, DOB or your name. Additionally, it is important to not share your passwords with anyone using messaging applications or IM apps. And to be double sure, keep changing your password often.
Monitor Your Credit
It is very important to keep monitoring your credit score. It’s not just helpful to know your eligibility to file a loan, but also you will know if your finances are all going positively. If someone steals your personal information, they may get access to your bank account details or credit card, also they can open a credit card or other line of credit in your name and use it for their own purpose. Keeping a watch on your credit score allows you to immediately report a fraud to remedy the situation.
Ignore the Lucrative Emails
I have received many such emails where I have been informed that I have won millions of dollars in a lucky draw. In order to claim the price money, I just had to share my bank details so that they can deliver the amount on my account. But, as I knew that it was not safe to respond to such emails, I didn’t give a second thought about responding them. I would just delete such emails, and this is what you should do too.
According to Microsoft, cyber-criminals install malicious software to steal your details. The data is then used to send phishing emails to clients. These emails mostly appear to be sent from a legitimate company, but they are actually the scammers who want to get hold on your financial details. To stay secure, make sure to not click any links given in these emails.
To find the best solution to your query, ‘how to prevent internet fraud’ you need not to disconnect yourself from the internet world, but it is important to be aware about everything about your finances and take appropriate action to take control over the situation, if anything wrong happens.