How to protect your money when you spend online

Do you shop online often? The more money you spend online, the more important it is to be aware of the cybersecurity risks you face. With an increasing proportion of retail sales occurring on the internet, the number of opportunities for hackers to take advantage of unassuming shoppers has followed the same pattern. Here’s how to protect your money.

Use secure payment methods

Always use secure payment methods when shopping online or playing games like mobile slots. Trusted credit and debit card portals and payment services like PayPal offer additional layers of buyer protection. Avoid using direct bank transfers or payment methods that don’t offer any buyer protection.

Ensure the website uses encryption by looking for “https://” at the beginning of the URL and a padlock symbol in the address bar. This indicates that the site uses SSL (Secure Socket Layer) encryption, making it more difficult for wrongdoers to intercept your data.

Check website legitimacy

Before making a purchase, always verify the legitimacy of the website. Look for contact information, such as a physical address and phone number, and check for customer reviews and ratings. A reputable site should have clear policies regarding shipping, returns and privacy as well.

Feel free to use tools like WHOIS to check the domain registration details. Do this to ensure the site isn’t brand new, which may be a red flag. Trust your instincts – if something feels off or the deal seems too good to be true, it probably is.

Protect your accounts

Your online accounts are a gateway to your financial and personal information, so take every precaution you can. Use strong, unique passwords for each account. Don’t worry about being overwhelmed by so many, you can always use a password manager to stay on top of them.

Two-factor authentication (2FA) is another good idea. This bolsters your account security by setting up two layers of verification at the log-in stage.

Regularly monitor your accounts for any unusual activity and change your passwords periodically. Avoid using the same password across multiple sites to limit the damage if one account is compromised.

Avoid phishing scams

Phishing scams are a common method used to steal personal and financial details. Be cautious of unsolicited emails, messages or phone calls asking for sensitive information. Phishing emails often appear to come from legitimate companies but contain links to fraudulent websites designed to steal your details or download malware onto your device.

To avoid falling victim, never click on links or download attachments from unknown sources. Instead, type the website address directly into your browser or use a trusted bookmark. Look for signs of phishing, such as generic greetings, spelling errors and urgent language designed to prompt immediate action.