The nationwide lockdown to enforce social distancing in order to contain the spread of Novel Coronavirus COVID-19 has forced people to stay indoors.
The nationwide lockdown to enforce social distancing in order to contain the spread of Novel Coronavirus COVID-19 has forced people to stay indoors, resulting in a surge in online transactions like shopping, money transfers, bill payments etc.
However, online transactions bear the risk of cyber frauds, which are alarmingly on the rise. So, it is very essential to remain very cautious and follow some security measures to ensure that you don’t end up losing money due to cyber frauds, while doing online transactions.
According to Trishneet Arora – Founder & Chief Executive Officer, TAC Security, “Hackers today all over the world have started adopting all kinds of tricks to steal your personal data, which can be eventually used for different reasons, with fake financial transactions topping the charts. That said, there are several preventive measures through which you can secure your online payments and avoid cyber fraud risks.”
Some top tips suggested by Arora are –
- Never store your password in any application
- Say no to giving secret information to other people
- Those messages are fraud
- Avoid risky and suspicious websites or merchants
- Look out for genuine websites
- Be careful while using public wifi
“Keeping these measures in mind, one can definitely avoid cyber-crimes and secure your personal data as well as financial information from the attackers,” said Arora.
Talking on the increasing number of cyber frauds, Rakesh Kharwal, Managing Director – India/South Asia & ASEAN, Cyberbit said, “A majority of people do not even know the basic security measures that they need to take while browsing the internet. This makes them vulnerable to a wide range of cyberattacks, even the most basic ones that barely seem to be a concern of IT professionals. Still, preventing each and every breach is of utmost importance, especially in the banking segment where the stakes are significantly high.”
According to Kharwal, following measures can be taken such as:
- Opting for two-factor authentication
- Not using Public WiFi
- Keep your devices updated
- Do not react to phishing emails or scam calls
Rajesh Kumar, Director, Cybersecurity, Netrika Consulting Pvt Ltd said, “The payment system is the most critical part of any online secure transaction. It’s the place where the money of both the entities is at stake – a buyer or a merchant.”
“Taking advantage of the global health crisis caused by the outbreak of novel Coronavirus, cybercriminals can use phishing and exploit users with their data and login credentials as well as distribute malware, trojans, backdoors for larger attacks,” he added.
“The best and simplest way to protect from such cybercriminals is stay alert and vigilant of phishing emails, SMSs, messages from not an authentic source i.e., do not click/download everything you see and observe and/or use the already saved/used URLs to initiate any transaction,” Kumar further said.