How To Avoid Online Fraud?

IamCheated.com Research Team | July 25, 2018  7:30:pm

Indians are rapidly moving towards a digital economy. People using digital payments and social media are increasing each day. As many citizens are getting used to digital transactions, fraudsters are coming up with new techniques to cheat innocent people and steal their hard earned money. There has been a drastic rise in online frauds such as work-from-home scams, lottery scams, credit card scams and fake bank e-mail scams. Scamsters have developed innovative methods to gain access to personal banking details of citizens. Fake telecallers have been trained to speak exactly like bank executives and collect personal banking details of bank customers. In this blog, we will be discussing various tips to avoid online fraud happening to you.

1. Tips to avoid Email fraud

  • Enable two-factor authentication wherever possible. It is an extra layer of security which requires not only username and password but also automated security codes sent to you via text or email, each time you log in to your account on a device.

  • Never open an unsolicited email which contains an attachment. It could be a phishing email. The phishing emails are sent by fraudsters and look exactly like the emails sent by the genuine company. These kinds of emails are sent to gain access to your personal banking information. It is better to delete such emails.

  • A password is a primary factor to protect your data from fraudsters. Your password should be strong and unique. Avoid keeping your birthday, phone numbers and family member’s names as passwords. The password should be a mixture of small letters, capital letters, and numbers.

  • Do check your last login activity.

See Also: Hi-tech Frauds Have Moved From The Banking Sector To Insurance

2. Tips to avoid Social media fraud

  • To avoid fraud, you must keep track of your last login and the device used to log in to your account.

  • Never click on suspicious links or links which you are not sure of.

  • It is advisable to stay away from applications within social media platforms. Fraudsters create games on social media to gain access to your personal data. They will be able to collect your data if you use these applications.

See Also: ATM Fraud: How To Get Your Money Back After a Scam?

3. Smartphone security tips

  • Make sure to download the applications from official app stores/play stores.

  •  Use antivirus to protect your data. There are a number of free antivirus software’s available to help secure your data.

  • You might have the habit of using public wi-fi provided at cafes and hotels. Using these networks can put your sensitive data at risk. Public networks are poorly protected and fraudsters can steal your information such as your passwords or credit card details easily.

  • Enable encryption services if available on your phone. This helps you protect data from fraudsters in case you lose your phone.

  • You must do military grade formatting before selling your phone. Hackers can access your data if you do a simple factory reset.

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