Rule of thumb is not to make it easy for scammer to access your details. Online scams are getting reported daily and if you are not careful, you may loose your hard earned money.
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Many citizen in United Kingdom, Australia and New Zealand have had their personal information stolen to scammer in the past few months after being caught up in many cyber hacks. If you’re not cautious, you could be the easy target and have your money stolen. The positive news is that you can secure your personal information and money by taking right steps.
Tips to protect you from online money scam
Think about from where you are accessing your online banking
Next time take a moment before accessing your online banking account. Make sure you are not using device which has multiple users or using public wifi on your personal device to access online banking website. These two things make it easy for scammer to get your banking and personal information. Always prefer, safe network to logon to your online account.
Choose strongest password and change them regularly
Choosing a strong password for your online banking ensure a strong defense against the scammers. While creating a password, try to avoid common dictionary words (Eg: Love), consecutive numbers (12345) or obvious substitutions (Eg: HOu$e). I would recommend to update your password at least once or twice in an year. It will be a good idea to maintain physical password book, if you had trouble remembering them. Personal suggestion is to keep that password book in secure place and don’t write that particular word is your banking password.
Keep your contact info updated
Keeping your contact information updated is very important, so that bank can contact you quickly if bank see any suspicious activity on your account. Many people change their phone number, physical address & shifts to new email ID, but forget to update on their online banking account.
Set up a multi-factor authentication
Setting up this extra layer of security will give your account an extra layer of security against scammers. After enabling this service to your account it will always ask you for one time password (OTP) or finger print or facial recognition before making any money transaction from your bank account.
Use only trusted ATM for money withdrawal
Scammers use ATM to skim debit card
Make sure you use a reputable and safe ATM when taking money out of your bank account. Scammers have been known to alter ATMs to skim debit card details from unsuspecting people. Before using a new-to-you ATM, look around for any signs of tampering and check to see if anything else looks questionable. If you’re unsure, go elsewhere.
Conculsion
In conclusion, safeguarding your financial assets in the digital age requires a proactive and vigilant approach. The prevalence of online scams underscores the importance of implementing robust security measures to protect you from online scams in 2024. Furthermore, exercise caution when accessing your online banking platform, ensuring that you use secure and trusted networks. Remember that scammers are becoming increasingly sophisticated, and a single lapse in security could lead to severe consequences. Stay informed about the latest security threats and continuously educate yourself on best practices to stay one step ahead of potential scams. Always remember that your actions play a pivotal role in safeguarding yourself from online scams, and with the right precautions, you can navigate the online banking space with confidence and security.