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How to keep your money safe when making payments online

Cybercrime is a profitable business for those evil elements, causing havoc to our global economy and making people suffer from financial loss.

These criminal activities include fraudulent transactions and money laundering, victimizing both the customers and financial systems. There are other types of cybercrime, such as nation-state attacks and hacktivism. The efforts to exploit individuals, companies, financial institutions, and even governments happen worldwide. The online targets of cybercriminals number in billions, be it for stealing money or conducting disruptive activities.

Online attacks

Since the dawn of humankind, criminals have existed. But, cybercrime is defined by its ever-changing online presence. It is no longer a must for robbers to get into a house to steal things, nor does thief need to pickpockets. E-wallets, credit cards, and websites that have payment methods can be hacked for money to get stolen. As the payment systems are integrated online, some darknet techies develop malware and phishing websites to ‘capture’ their target and intercept the funds to transfer it to themselves.

The cybercriminal mind

When you try to enter a cybercriminal mind, you’ll be able to see what they will target when it comes to stealing your money. Payment transactions are fast, safe, and secure when using online sites and money services apps. But, you still might be exposing your details to those cyber thieves when you fall for clickbait scams and the like.

Click baits

There are so many click baits ads. A few of these click baits encourage you to fill out a form to avail of a freebie, that even are spammed to you through Messenger for your information to be stolen. Once your information is in their hands, your financial accounts can be targeted for their fraudulent activity. There was a recent incident of a clickable image being sent via Messenger, spamming hundreds of people who wanted the free food offered. The dire consequences of submitting their information made them lose money from one of the local payment transaction apps.

Trial subscriptions

There are trial subscriptions that lure you into purchasing a month’s worth of the product for a small amount. They offer you all the perks of the premium of service for a low price and then don’t notify you when the trial offer is about to expire. What happens is that you get automatically charged for the full amount of the premium once the trial period is up. You won’t be any wiser until you check your account balance and see that your funds were debited.

Keep your money safe

When it comes to keeping your money safe when making payments online, you can have peace of mind. The way to achieve this is to make sure to be careful. You can’t just keep on clicking ads or going shopping on just any retailer website. You have to take a few seconds to stop before you click or surf, and not be lured in by advertisements that make offers that are too good to be true.

When you make payments online, think before you make that leap to make a cyberspace payment. You might become a victim of fraud, so avoid falling into traps.