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Tips to protect your financial information

IamCheated.com Research Team | October 04, 2019  6:51:pm

Financial information of many Indians is compromised each year and the stolen information is used to carry out fraudulent transactions. Many innocent people have become victims and lost lakhs from their bank accounts. This number keeps growing each year. Fraudsters use various tricks to steal financial information. So, it is really important to be careful while carrying out any financial transaction. Many citizens are not aware of these frauds that are taking place until it happens to them.

The main reason why a lot of people are getting cheated is lack of knowledge. Many people are still not aware of what information must be shared and what must not. So, in this blog, we will discuss certain tips which help protect financial information.

Tips to protect your financial information

Here are certain tips which help protect your financial information from fraudsters.

1. Avoid clicking on suspicious emails

You must never click on suspicious emails sent by unknown people. Clicking on suspicious emails can lead to your financial information getting compromised. The tactic used by fraudsters to steal your financial information through emails is known as phishing. Phishing emails will normally have a link or attachment. If you click on the link you will be redirected to a fake website where you are asked to provide your financial information.

2. Never share your sensitive information

You must never share your personal information like card number, CVV, card expiry date, OTP and passwords with anyone. One thing you should always keep in mind is no bank will call or mail you seeking sensitive banking information.

3.  Make sure your password is safe and secure

You must never keep the same password for all the accounts. If one account gets compromised; there are chances that all your accounts would be compromised. Avoid keeping your name, birth date and family member names as passwords. The password you set should be very strong and secure. It should be a combination of letters, numbers, and symbols. Change your password often.

4. Shred unwanted financial documents

 We receive financial information electronically and in print. It is advisable to shred unwanted financial documents before throwing them out.

5.  Use secure websites

Your financial information can be stolen by fraudsters through unsecured websites. So before transacting on any website; make sure it is secure.

6. Beware of fake apps

There are many fake apps developed by fraudsters with the intention of stealing financial information. So, it is very important to be careful while downloading any app on your phone. You must always download apps from the official app stores.

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