With the growing power of Internet today, online transactions are done like a piece of cake. From transferring money to ordering pizzas, everything is done online. With the help of online transactions, we don’t have to stand in a queue to make payments or buy tickets.
You just need three things: a computer, working Internet and your account information. And that’s it; you have done the payment successfully. See, it’s that simple!
But since it’s done so easily it has some consequences too. The main important problem that everyone is facing these days is safety of their financial information. In this article we will discuss how to be safe and stay away from online fraud while doing online transactions, according to www.iblognet.com.
Always make payment through trusted sites
Always make the payment through trusted websites only. Never give your password on an untrustworthy site. Make sure you are paying through a secured gateway or through a trustworthy online transaction site
Always use secured connection
Use secured connection when you are making an online transaction. Use https:// instead of http://, where https:// is a secured encrypted connection. In https://, ‘s’ stands for secured using SSH. Always check for a secured lock symbol in front of https:// which means it’s a secured connection.
Beware of phishing sites
Beware of phishing sites; always make sure to check the certificate of the site when making online transaction. Certificates are represented in four colours namely:
Red: represents the certificate is out of date, invalid, or has an error.
Yellow: represents that the authenticity of the certification authority that issued it cannot be verified. This might show a problem with the certification authority’s website.
White: represents that the certificate has normal validation. This means that communication between your browser and the website is encrypted.
Green: represents that the certificate uses extended validation. This means that communication between your browser and website is encrypted and that the certification authority has confirmed the website is owned or operated by a business that is legally organised under the jurisdiction shown in the certificate and on the security status bar.
Always use personal computers
Most important thing is always, must and should use personal computers for online transactions. Public computers are like public libraries where everyone has access to everything. Most of the public computers save usernames, passwords, and have cookies saved to their browsers, which makes it a liability for security, when using confidential information. So, always use a personal computer for online transaction.
Use high security password and 3D secure code
All the banks are giving access to a high security password where an instantaneous password is delivered to your mobile phone when an online transaction takes place. Be sure to enable it for your account. When using a debit card for online transactions, a 3D secure code is an extra layer of protection provided by the bank which is actually a unique password where the card holder is the only person who has access to it. Don’t forget to use these extra security steps, if you use online transactions often.
Make use of virtual keyboard
Always make use of virtual keyboards, which are provided at the time of transaction when entering your personal information since the physical keyboard can be compromised by a key logger software. Virtual keyboards are uniquely designed for high security purposes; hence, you can make a safe and secured online transaction.
Make use of VCC
VCC is a Virtual Credit Card. This card always comes handy while shopping online without revealing your actual credit/debit card information to your merchant site. VCC is a one-time usable credit card with a limited balance as per your requirement. For example, If you want to shop online something of N1,500, then you can create a VCC of that amount and use it to pay online. Make sure that this feature is available with your Net Banking options. Never buy a VCC from any online dealer.
Keep track of your transactions
Always keep record of your account statement, when, where and how many transactions have been done, where your credit card has been used. If you find any false transactions in your account statement, report it to your bank and lodge a complaint as soon as possible.
These are the ‘must’ and should follow steps when you are making an online transaction. Hope this will be helpful when you make online transaction in future.