5 Ways to Prevent Online Fraud

The internet has become a major source not only for information, but also for shopping, communicating with people and for using services from the ease of a touchscreen. The ease in which we can get virtually anything we want and need does not come without a cost that many people have paid over the years. Hackers and dark web users obtain private information such as social security numbers to hack into people’s personal accounts.

As a result, there have been 3,050,374 Identity Theft and Fraud Complaints in 2016 alone according to Insurance Information Institute, and the numbers keep growing with each passing year. The security breach is the result of unsecure smartphones, phishing and the lack of knowledge on how to avoid online fraud in any of its forms. In order to prevent your accounts and private information from getting hacked and even sold to the highest bidder, there are preventative steps you can take do just that.

5 Ways to Prevent Online Fraud

There are several preventative measures you can take to lower the risk of having your identity stolen and your information breached. Here are 5 of the best ways to prevent online fraud that will help you put your mind at ease whenever you use your smartphone and online services:

1. Be smarter when it comes to passwords

One of the most common mistakes people make when it comes to online security is using the same password for every website they go on. This makes hacking a lot easier, so try to use a different password for every website you use. Make a list of the websites you use and the passwords so you won’t forget them or use password managers and reminders and managers that not only remind you of your passwords, but also give them another layer of protection. Also, when changing your passwords, don’t use the same characteristics side by side, like gary8888, but use at least 8 characters and mix letters, numbers and characters like #,$,@ to make the passwords harder to guess. Also, avoid using personal information in the passwords, like your name, birthday, etc.

2. Beware of what’s going on in your financial accounts

There have been numerous cases of people who found out their accounts and credit information were breached, only once they’ve lost large sums of money. To prevent that from happening to you, check your accounts frequently and on a regular basis. You can also set up alerts on your account that let you know when something fishy is going on with your account.

3. Use private networks when online

If you want to check your bank account, make an online purchase or use any private information, don’t do so until you have access to a private network. Try avoiding doing these things when you are on a public network that may put your information in risk of a breach.

4. Be careful when online shopping

One of the most common ways to hack into private financial information is by purchasing products from unknown online vendors. With Americans purchasing billions of dollars’ worth of products each year, online shopping is popular now more than ever. While it may be tempting to purchase products such as hoverboards from the cheapest vendors, it may put you in risk of fraud. To avoid this, use well-known and licensed vendors only. Also, read reviews on products they sold so that you can be sure that you are buying legitimate products that have been tested and purchased from known vendors without any problems rather than counterfeits.

5. Be suspicious when it comes to giving out your information

If you receive unsolicited phone calls or emails asking for your personal information to complete a registration or purchase a service, do not give it out. If you haven’t contacted service providers on your own, just assume that you can’t fully trust the ones that contact you out of the blue.

Online fraud and identity theft have become a serious problem in the 21^st century, but you can drastically lower the chances of becoming a part of the statistic if you use the preventative measures listed above.

Click here to get more information about online security and secured online shopping.