1. Beware Of Certain Shopping Apps
Hackers can now mimic legitimate apps so convincingly that users can’t tell the difference!
For instance, in October last year, hackers were easily mimicking shoppping apps with bogus deals such as a fake Coach app with ‘extra 20% off Coach bags’!
How To Prevent It: Install a mobile security application: With our entire life online, the first app/feature we should be downloading is an anti-virus application to keep our devices safe.
2. They Can Intercept Our Accounts
It’s easy peasy for hackers to intercept our accounts, so we don’t get notified of unusual transactions.
Just last year, a hacker in Singapore purchased SGD70K worth of goods by hacking into email, Paypal, and Groupon accounts without users having a clue!
How To Prevent It: Get two way authentication on your phone or electronic devices. This way, whenever your account is being used, you’ll get an alert telling you to authenticate the account either with an added password or a fingerprint scan.
3. Not All Online Payments Are Secure
Just because online shops have payment capability doesn’t mean they are automatically secure.
Recently, academics claimed that it takes hackers less than 6 seconds to get the security credentials of card holders, thanks to a flaw in the Visa system.
How To Prevent It: Whenever you’re shopping online, be sure to look out for a green lock on the checkout page next to the website’s address bar. This means that the site is secure.
4. You Could Lose Your Identity
Because you’re not present when you pay online, you won’t know if someone else is making a purchase with your card details. On average, you could lose $1,038 a year from identity theft!
How To Prevent It: Keep personal information personal: Best not to share your address, phone number or other personal information online with strangers.
5. Don't Shop Online While On Public Wifi
Avoid public computers and open Wifi connections: Open computing devices allowing others to easily retrieve your payment card information entered into these computers.