How to Avoid Online Scams and Frauds? Safeguard Yourself!

Don't be the victim of online scams and frauds. Learn the ways to safeguard yourself from such online frauds and keep your hard-earned money with you, not with imposters!

Online payment and digital banking systems have become easy for us to not just pay and shop online or invest digitally but also complete major transactions from any location. All these activities can be executed from anywhere, anytime, in just one or two clicks. 

Although, one wrong click on the web or mobile can cause big financial trouble. As easy as digital payment methods are, uninformed decisions or incorrect press can land you before the unscrupulous fraudsters looking to find you unexpectedly and steal your hard-earned money.

Remember, your knowledge is your power. You can make the best use of technology by keeping yourself current with the knowledge to avoid such online fraud. Online frauds and scams keep evolving with time, just like technology. Here are some effective ways to protect yourself from online fraud and make safe transactions online. 

7 Ways to Protect Yourself from Online Frauds and Scams

#1. Prefer Verified Apps 

Mobile applications are easy ways to shop or transact online. However, not all apps are safe and authorized. Therefore, be a little serious while downloading apps on your phone or computer and ensure they are genuine and verified. For this, you can use the official play store, like Google Play Store, Windows App Store, and Apple App Store, to download your financial apps, games, or any other software. 

#2. Visit Authorized Websites 

In recent years, the world has witnessed a massive increase in cybercrime. Hence, it's essential to visit an authorized website or site having "https://" before "www" instead of "http://." If you have installed a security tool or antivirus, your tool might inform you while visiting such websites. Also, be aware of imposter websites having similar names of well-established and popular brands running worldwide. 

#3. Be Attentive When Using Your Card

You must always allow card payments in front of your eyes. You must ensure the POS machine is genuine and will not steal the data. There are many scam stories around POS machines, where imposters cloned the card and stole the money of users. Don't allow anyone to steal your hard-earned money due to your negligence. 

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#4. Use Private Internet or WiFi

Free WiFi at cafes, airports, metro stations, hotel lounges, and public areas can also cause financial fraud. You must avoid using public internet facilities while doing a financial transaction. These networks are more likely to lead to data theft as their encryption can easily be cracked, and imposters can get access to crucial information available on your smartphone. 

#5. Update Mobile and Computer Security

We all want to make online payments securely, but do we focus on keeping our smartphones, laptops, computers, and OS updated? Keeping your device updated and using security software can prevent online mishappenings. Also, you can make your password strong so that it's hard to crack and get access to your data. Don't sit after setting the device or app's password; keep changing it after a month or two. 

#6. Do Not Share Sensitive Personal Data

Sharing your sensitive personal data like bank name, branch, account number, CVV, or any other financial data is a big NO. Your bank never asks for OTP or other details over the call or in text. Make sure you do not provide any sensitive data to any person online; they can be fraudsters (there are mostly fraudsters) who can steal your money. Also, if you need to provide any financial details to an authorized person, ensure they are genuine, and your data will be safe. 

#7. Avoid Responding to Unsolicited Calls and Messages

Have you received any call claiming you have "won $$$ money" or "Click on the link & get $$$ amount"? Link baiting, spurious emails, and text are some of the common forms of tangling innocent people in online scams. These people can seem genuine and try to get your attention around the lottery or something similar that can steal your money. Additionally, avoiding such links is also wise, as these links can lead you to phishing sites that can rob your device's security and access sensitive and financial data. 

Conclusion

The number of online scams and frauds is increasing every year. You don't know when you can be the victim of online fraud. Hence, it's good to stay informed about the latest online fraud prevention techniques and not share your financial data with anyone. In case you lost your debit or credit card, make sure to inform your bank account to block the card and also file an online complaint as proof. Remember, timely blocking of your card can save you from big financial losses. 

So, these are some ways to prevent online scams and fraud from keeping your finances and sensitive personal information safe and secure. I hope you liked this article and found it informative; if you keep willing to read such an interesting post, please stay tuned with me. I keep posting articles around work from home, freelancing, and relevant news that can help you stay ahead of your friends. 

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