How to protect yourselves from online fraud and identity theft

Credit cards are no strangers to the internet. Nowadays, transactions take place ubiquitously in the realm of the internet. It is no surprise that the importance of protecting our personal and confidential data is becoming ever more important with the plentiful number of con men waiting to snap on any loopholes.

So what can you do to protect your ever important and valuable data? Here are a few tips to help you protect yourselves from online fraud and identity theft.

Perhaps the most important rule to protect yourself from online fraud is to educate yourself. Knowing how to distinguish a suspicious and genuine website is just one example of how an educated computer user could be more effective than any phishing prevention software.

#1 Submitting any information online

Think before you act. When you sign up for most online accounts, they will ask for more information such as your Full Name, Date of birth and Nationality. These information can easily be used for identity theft. So the next time you register, research the company or website before you submit any information. Make sure you read their privacy policy to ensure your information will not be viewed or sold to third party companies.

#2 Never use the same password

As annoying as it sounds, never ever use the same password for all your accounts. Yes, it is a huge hassle just to remember one or two different passwords but its better than getting every single one of your online accounts hacked right? It just basically means that one compromised account compromises all of your accounts. If you are not very good at memorizing then try using password manager programs such as AI Roboform which saves your password for you. All you need to do is remember a master password (make sure its extremely difficult) which unlocks the rest of the passwords.

#3 Secure your network

This is a must for anyone with a computer. Protecting your computer network with adequate security measures will significantly stop the progress of online fraud attempts. How do you secure your network? Turn your fire wall on. Have a genuine antivirus and anti-spyware program. Keep your operating system (e.g. Windows, Mac OS) up to date. Set a password (preferably WPA encryption or better) for your router if you are using wireless connection.

#4 Conducting transactions

Never conduct online transactions while you are connected to a public or insecure network. Another thing to watch out for is the website’s URL. All authenticated sellers on the web should have a https:// instead of a http:// when any transaction occurs.

The internet can be a scary place but do not be afraid to buy and sell online. It is not that much different to the real world as any receipts or bills you leave in the trash is just as vulnerable as any information you give out online. Enjoy the convenience of the internet but always be careful and use your common sense to stop online predators from taking advantage of you.