Playing It Safe On The Internet
Online shopping is a fantastic way to save both time and money. All at the click of a mouse. But with that convenience we are often opened up to potentially expensive exposure to fraud.
A friend of mine recently travelled to London. On arrival from Australia he went to pick up his previously booked hire car. The attendant asked him, ‘Which car do you want?’ My friend responded, ‘What do you mean which one?’ ‘Well you’ve two cars booked with two credit cards under your name.’ My friend suddenly realised that an old credit card, that had been used fraudulently in a number of other European nations months before, had once again resurfaced, and was being used at the same airport, on the very same day for the very same purpose of hiring a car. The chances of this happening were millions upon millions to one. So whoever had used his old credit card that day was in for an almighty shock when they were met by the police later that morning.
So how do we fight against this happening to us? Well here a few tips to help you play it safe on the internet.
Online Security Tip 1
Use plain old common sense. Only deal with reputable and well know websites. Make certain they use encryption to protect the exchange of personal information. Look for a yellow icon to display the security certificate for the website. The name following: ‘Issued to’ should match the site you think you’re on.
Online Security Tip 2
Use a third party payment system. While shopping on eBay you may have used PayPal which is a third party payment system. This acts as a buffer between the buyer and the seller. The beauty of this system is that neither the buyer nor the seller knows the other persons personal or banking details.
Online Security Tip 3
Set up a credit card that is only used for online purchases. And set it up with a low credit limit that will limit potential financial damage.
Online Security Tip 4
Ask your bank about any safety mechanisms that they have put in place for online shopping. Those who have either a Visa or MasterCard can set up a ‘buffer layer’ by using MasterCard SecureCode or Verified by Visa. Both are free services that allow you to set up a personal password used when shopping online. The only drawback with this system is that transactions have to be made with participating merchants.
Online Security Tip 5
Always check your credit card statements at the end of the month. And if there is any transaction that you are not familiar with, check it out with your credit card supplier. Often the transaction will be suspended and then investigated.
So at the end of the day - deal with reputable well known companies and keep an eye on all your transactions. By following some of the above tips you will avoid much heartache and disappointment.