The rise in the e-commerce industry has opened the market to cyber-criminals, who are invading the data privacy of online businesses with their sophisticated hacking techniques. Millions of users all around the globe fall victim to cyber-crime. The Covid-19 pandemic has created havoc and led to a sharp rise in cyber-crime.
Cybersecurity statistics (2021) indicate that cyber-crime has increased by 600% due to the Covid-19 pandemic. Therefore, E-commerce fraud, phishing attacks, malware, ransomware, etc., need to be prevented, and your business data need to be shielded from these fraudsters.
Steps to Protect Yourself From Online Fraud
Since these fraudsters are constantly changing their intrusion techniques, you need to be always vigilant. Therefore, I have compiled some simple tips which will help you to shield yourself against these cyber-criminals.
Use Complex Passwords
Your username and passwords are the first lines of defense against intruders who want unauthorized access to your network. Set complex passwords by using a combination of all the keyboard keys, i.e., special characters and symbols, too, for protecting your network.
The LastPass tool can help you to create a secured password.
Use Multi-Factor Authentication
Extra security layers are always preferred in digital business. Hence, apart from password protection, extra security layers in the form of a pin code, SMS token, security questions, phone authentication, etc., should be used for solid security.
If one security layer is compromised, there are a few more layers that secure your systems. Use MFA software for securing your systems and applications.
Stay Alert Against Phishing Attacks
Phishing Statistics indicate that 75% of the companies around the globe have experienced phishing attacks. Hackers make fake websites that imitate the real ones to lure their customers.
When customers visit these fake websites and try to enter their details, the hacker instantly gets access to their sensitive information.
The best solution to prevent such phishing traps is to avoid clicking anonymous links or attachments since they direct you to malicious websites. Also, avoid clicking on shady pop-ups and stay vigilant before submitting any information.
Secure Your Internet Connection
Your home Wi-Fi also needs security, just like company networks.
Secure your home Wi-Fi by:
- Using a complex router password
- Strengthening it with encryption
- Enabling the firewall
- Limiting WPS
- Updating your router regularly
- Hiding your Wi-Fi network name
Use Sites Having HTTPS in the URL
You must use only HTTPS (hyper-text transfer protocol secure) sites to make online purchases or any other financial deals.
HTTPS sites mark the presence of an SSL (Secure Socket Layer) certificate being installed on the website.
These certificates secure your in-transit communication between the web browser and client-server with encryption algorithms.
SSL certificates also show trust icons like HTTPS in the URL and a padlock in the address bar. As a result, business owners trust SSL encryption security and secure their sites by installing them on their websites.
This not only secures their customer’s valuable PII but also engenders a sense of trust amongst consumers.
There are many certificate brands available in the market like Comodo SSL certificate, RapidSSL certificate, GeoTrust SSL Certificate, DigiCert, and more. Choose certificate as per your site requirements.
Since information on these websites is encrypted, it helps maintain data security and prevent online fraud.
Protect Your Computers
Protect your computers against cyber-criminals by installing anti-virus software on them.
Also, install anti-spyware software which scans your hard disk and removes spyware and adware from your computers.
Go for a firewall to prevent unauthorized entries into your network and anti-spam software to prevent junk and spam emails (phishing emails) from entering your inbox.
Ensure that all these software’s are updated regularly so that security vulnerabilities are patched. The best option is to turn the automatic updates icon “On” so that the same is updated automatically at regular intervals.
Keep Your Personal Information Confidential
Never share your sensitive details on unknown websites. This move will help you in protecting yourself and your data from fraudsters. Share your information only if you are confident about the website.
Look out for the padlock in the address bar and HTTPS in the URL to ensure that the site you are using is a secured one.
Stay alert before giving your sensitive details like credit card details or bank account numbers since most websites usually don’t require such details.
The same goes for PAN numbers or Social Security numbers. These are red alerts and should be approached with caution.
More Tips on How to Prevent Fraud
- Update your computers, operating systems, and software to prevent cyber-crime.
- Watch out for the trust icons (HTTPS, padlock) before doing online shopping.
- Check out the privacy policies of the website.
- Stay updated on the current cyber-security scams and their solutions.
- Stay alert in case of unusual payment requests.
- Never email your digital signatures, account details, or any other sensitive information.
- Never wire payments without confirming with the recipient.
- Store your sensitive data and financial information separately.
- Know your receiver and never share details on unsecured (HTTP) platforms.
Conclusion
Though IT experts and web developers are the best in their field and have made multiple software to prevent frauds, hackers still find a way to break those barriers and invade your data.
Online frauds can occur at any place and anytime. It can happen to anyone, so stay alert and protect yourself from such disasters by checking the website’s authenticity before making any transactions or sharing any details.
I hope the tips mentioned above are sufficient in protecting yourself against cyber fraud. Best Wishes!!
___________________________________________________
Some other articles you might find of interest:
Make your business rock with these business plan writing skills:
Startup’s Guide to Write a Business Plan
Would you like to know how investors value a startup?
How Do Investors Value a Startup?
