If we rank the different categories of scams according to how much money people have been robbed of, online shopping “scams” will absolutely appear in the top ten. Such statistics are regularly updated, for example, by the Australian Anti-Scam Centre – you can find them on the Scamwatch website. It’s quite possible that if you open it today and then again tomorrow, in 24 hours, several thousand dollars, if not millions, will be added to it again. This reminds us that it never hurts to repeat the basics of online payment security. We’ve listed 5 that our colleagues follow.
1. Use secure digital wallets
Digital wallets like Apple Pay or Google Pay are one of the safest ways to pay online. Both use encrypted tokenisation technology, where each transaction generates a unique code. Thus, instead of your card information, only a unique cluster of characters is sent to sellers, which significantly reduces the risk of data theft.
2. Keep your money in a separate account
Not sure if your new favorite e-shop will really only draw the money it should? Then you’d better transfer it to a separate account created for this purpose. And to maximize its security, set it up so that direct debits or other transactions can’t be made from it without your authorization.
3. Use automatically generated cards
Some banks, such as the traditional Tatra Banka or the alternative Revolut, offer the possibility of creating virtual cards for online purchases. These single-use cards are only valid for a short time and are automatically deactivated after use.
4. Be careful when downloading apps
Always download apps only from verified sources, such as Google Play or Apple App Store. In addition, we recommend reading reviews of them and checking what the application requires access to.
5. Monitor your transactions
Check if the transactions on your account really match your purchases. Many banking apps and payment services offer real-time alerts that inform you about every transaction made through your accounts. This feature allows you to react quickly in the event of unauthorized use of your funds.
According to the aforementioned Australian fraud statistics website, more than $800,000 has been “lost” online since the beginning of this year. Don’t add even a single cent from your card to this amount, and always check its security when paying in any application, so that you don’t lose all your savings instead of saving a few euros.
