5 Tips to Protect Your Financial Data

The economy has always been a worldwide issue. Around the world, millions of people are suffering from financial loss due to online hackers who are experts in stealing your personal information from the sites you visit, through the mobile apps you use. It has been very alarming that earlier last year, experts carried out research to respond to the said crisis.

The research which was called The State of Digital Personalization in 2016 took its roots from digital marketer’s usage of data and the data collection practice itself.

In the online world where most people nowadays do their financial transactions; there are two ways in which the site owner can obtain some of your personal information. The first is the opt-in method which gives you the chance to say no. However, the latter which automatically obtains your data without your knowledge just by using your IP address is dangerous and has put a lot of people to a dreadful situation.

Before being a victim, let’s check out these five helpful tips that you need to keep in mind whenever doing a financial transaction online.

Check secure websites for financial transaction

One of the most common practices used by social engineers and hackers around the world is phishing. This is done by the use of various hyperlinks that allow the attackers to lure their victims to unsafe websites and links. The good thing is, there is actually a way for you to know whether you are doing your financial transaction on a secure website. This trick is very easy so pay close attention.

When you are asked to click on another link for you to do your transaction, hover your pointer over the link to see if you are indeed going to the right place. If you see something suspicious, I guarantee you are about to become a victim, so you better back off. You can also use a helpful online tool called Redirect Detective to avoid such unfortunate situations.

Use credit and debit cards with care

A lot of us take this thing for granted. We rely so much on the security that our financial institution has to offer and so we simply forget the fact that this is one of the many reasons why most people around the world have fallen victim to attackers. Each card sure has a very secure way of protecting your data, but the moment you fall into an attacker’s trap, you’re in a dead-end.

Be sure to use your credit and debit cards with care. If you are to deal with a high-risk credit card processing website, for instance, be sure you’re not directed anywhere else. This is by far one of the favorite nesting places for scammers.

Don’t respond to unknown phone calls or emails with personal information

Email servers often dump such malicious emails to your spam folders so that they never reach your inbox, but a lot of attackers use advanced codes to bypass those security measures. Fortunately, there is a pattern being used by phishers and scammers to lure their victim into providing confidential information. The most commonly used method is winning something which you did not sign up for. Some would also tell you to upgrade your computer’s security system when you don’t have one.

The best way to deal with these type of emails, just go ahead and delete them and be sure not to respond or click on any links that come with it.

Watch out for wireless networks

Lastly, watch out of wireless networks. There is a big reason why many people fall for this trick, free internet! I mean, who doesn’t want that. Most free wireless networks would often ask for your mobile number along with your name; these are often found in public places like malls, airports, and shops. If you notice a free wireless network name in an unfamiliar place, the best practice is to ignore it.

Use official banking apps

Using a browser to check your financial transactions when you are on your mobile is a bummer when you know you can use applications that work way faster than your phone’s browser. Before falling into the trap of installing an unofficial banking app to steal your financial information, be sure to check reviews from you app source. Check the ratings, and always be vigilant when it comes to new applications.

Attackers often incorporate malware to those applications making your vulnerable to any attack. To ensure your safety, it is best to call your financial institution to confirm the app is indeed official. Otherwise, invest in advanced software to protect your phone’s data.

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