Tips to protect your money from digital theft

August 24, 2018 Finance Talk Valli Sarvani No comments

As digital mode of payments and electronics transactions are increasing, so are electronic thefts.

It is quite common to use not just computers, but also mobile phones for digital transactions.

In this scenario, it is very difficult to protect your personal and vital data from fraudsters.

Here are some important precautions or tips to protect your money from digital theft:

Always choose smart security questions for your net banking or online stock trading account. Do not choose simple questions like ‘what is your favorite sport?’. If you are active on social media and share everything on it, then anyone can answer for such questions.
As said above, do not share all your personal details on social media like your date of birth or government ID proofs. Fraudsters may misuse those details.
Though new ATM cards have magnetic strips, the old cards do not have them. As a result, they can be easily cloned and misused.
Never respond to fake phone calls. Several fraudsters make calls pretending to be bank authorities and try to get your personal details. If you want to get any information, directly visit your bank’s branch, but do not ask or share anything with these fraudsters.
Several apps are available in the market for free. Never download illegitimate software or apps. Some apps ask your permission to access your data while downloading. If you give permission, you will lose your own data as well as your contacts’.
Never store your card details and CVV on online shopping websites. It has a potential risk of being used by others in your absence.
You phone is very important as everything can be done with just an OTP. Hence, protect your phone with proper password. Do not share this with anyone.
Protect your Wi-Fi with password so that no outsiders can use or access your data.
Public networks can easily be cracked. So, try not to use open or public or free Wi-Fi connections for internet.