In view of the recent demonetisation of the Rs 500 and Rs 1000 notes, India has seen a sudden spurt in digital transactions. From paying for groceries to taxi fares, digital transactions have gone up in every sector. While this is a step forward in moving the economy to the digital space, global security firm Kaspersky Lab is urging people to be vigilant of online fraud.
While those who regularly transact online are fairly well-versed with the pitfalls, first time users need to be educated on the risks they are exposed to.
Mr Altaf Halde, Managing Director (South Asia), Kaspersky Lab, has said: “While it (online payment) is very convenient and frees one of the pressures to hold cash, it calls for precaution. One small slip-up can cause one a huge loss.’
“While companies are bound by law to follow guidelines, fraudsters find their way through many security barricades. The only way to safeguard oneself, in such a scenario, is to be vigilant while paying and to keep the mobile protected with a security plan. With these two simple steps, people can ward off almost all financial theft risks. As the current adjustment period makes way for settlement, we are sure that more people, across economic strata, will find digital payments way more convenient and may make it their preferred mode of payment,” added Mr Halde.
An enormous number of transactions have been happening through the smartphone and that brings with it a lot of risks. Main threats while transacting online are: paying through unsecured portals, unverified downloading of apps and software which hackers use to nab credit and debit card information and skimming, wherein credit and debit card information is copied when it is inserted into a swiping machine while making a payment.
Other threats include mobile anti-malware, web protection, call and SMS filtering, rooting and jail-breaking protection and mobile anti-theft features. While the risks are many, the good news is that basic precautions can easily help one dodge a trap. Here are the set of rules that you must follow while making payments online to stay safe:
- Check for the crucial ‘s’ in the ‘https’ on a portal that you are using
- Check and re-check the portal URL. Check every alphabet. Fraudsters are experts in creating a fake website that looks exactly like the original
- Don’t share your financial information with anyone, especially over messages
- Not sure of the app? Don’t use it! Spend a little time in reading about an app, going through its ‘Terms & Conditions’ and talking to current users before you punch in your card details
- Get yourself a mobile security plan. You’d be surprised at how much it’ll protect you.
- Only download apps from official app stores
By simply being vigilant and getting oneself a mobile security plan, one can put all fears to rest. Individuals can use this as an opportunity to go cashless with a majority of their transactions. It’s convenient, it’s easy and it is the future.
