Protect Yourself With These Tips When Shopping Online

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Online shopping is all about convenience. While it has become an increasingly popular option for consumers to save time and money, it has also caught the attention of cyber criminals, who are keen to exploit consumers who do not practise good cyber hygiene. From phishing scams that aim to steal consumers’ financial information, to bogus websites that offer products that do not exist, it is important to be aware and take the necessary precautions to stay safe when shopping online. Here are some useful tips you can follow.

1. Pay with a credit card instead of a debit card

Credit cards often offer more fraud prevention and protection than debit cards. If you use a debit card and purchases are made without your permission, the money is withdrawn directly from your account. Debit cards should be treated like cash. On the other hand, if you use a credit card, you have more time to dispute fraudulent charges and the bank can withhold payment while they investigate the incident.

Aside from checking your bank statements, it is a good practice to review the transaction history of your credit card and bank accounts regularly to check for any unusual activity, such as unauthorised payments. If you spot anything out of the ordinary, alert your bank immediately.

For extra precaution, you can subscribe to email or SMS notifications for your banking transactions.

2. Enable 2FA for all online transactions

Enabling two-factor authentication (2FA) for your online transactions and account logins gives you an added layer of protection. Having this in place will alert you to fraudulent transactions that are about to take place, giving you time to alert your bank and lodge a report.

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