Digital currency is very popular in the modern world, so fraudsters are also after it, trying to steal personal data in payment systems. Although it is known that it is impossible to steal a digital application, the information contained in a digital wallet is invaluable and includes:
- card data,
- credentials,
- personal information,
- PIN codes,
- email addresses.
This is a very tempting piece of information for fraudsters, so it is necessary to ensure the security of online wallets.
Online Wallet Security
To ensure the security of online wallets, it is necessary to be attentive during the application installation process and make sure to:
- install the application from the official wallet website;
- subsequently update the software only from the same sources where it was installed.
The presence of a unique password will protect the online wallet and prevent a fraudster from accessing finances. You should not use associative passwords such as pet nicknames, home addresses, maiden names, or birthdays of relatives and friends.
Be attentive during online payments in online stores, make sure the site and its service are reliable, study the information about the store in detail, and you can also agree on cash on delivery.
How to Protect Yourself from Fraudsters in Payment Systems
The need to keep confidential information about any finances a person has is a priority. It has long been known that without financial support it is difficult for a person, and they do not want to give their hard-earned money to fraudsters. To avoid this, it is necessary to be attentive and not hand over your smartphone to strangers, disclose personal data, or save screenshots of access passwords on your phone.
Fraudsters can charge a payment from the card, which may not be immediately noticeable, so to prevent this from happening, you need to:
- periodically log into banking;
- check statements;
- verify completed transactions;
- be aware of suspicious operations.
Do not trust information to the first person you meet or a barely known person who wants to use this information.
Signs of Fraud in Payment Systems
Fraudsters have also learned social engineering to attract clients on various resources. Thus, the victim is offered a super profitable loan offer or a promise of a discount on subsequent purchases, prize draws, high interest rates, fast quick profits.
Fraudsters also do not ignore psychological pressure on the victim, using manipulation and intimidation methods. They can send such messages, even in payment systems, which are attacked by fraudsters, and may contain information requiring prepayment to receive contractual documents.
Online Wallets and Financial Security
Online wallets, or as they are also called, electronic wallets, allow a person to use a safe and convenient system that provides access to finances online – this is a very comfortable way to make various payments in online stores, where you can buy everything while sitting on the couch and order delivery.
The advantage of an electronic wallet is that it:
- is safe to use due to the data encryption system;
- instantly completes various operations on the Internet through a gadget from anywhere in the world;
- has a high level of functionality (information on discounts, loyalty programs, deposits, investment opportunities)
- the availability of electronic wallets allows them to be used in various places on the planet, as they participate in the global Internet.
Fraudsters in Payment Systems
For fraudsters in the payment system, it is common to hack electronic wallets of users, mostly occurring on fake sites created by them, disguised as banks. They select names and logos of well-known and popular banking structures.
Information is sent to users allegedly from the bank, and many users take it seriously. By following links, you can infect your gadget with a virus that can read personal information and transmit it to fraudsters. Thus, robbing a user is not difficult, and figuring out where the payments go is not immediately possible.
Also, do not use public Wi-Fi to transmit information, because villains can connect to your phone and banking, and before you know it, money will fly out of the account.
How Not to Become a Victim of an Online Wallet
Having an online wallet does not always guarantee security, as there are risks mentioned for online wallets:
- virus programs - they infect not only the wallet but also the gadget itself, compromising security;
- online access – can lead to respective violations of personal data information, facilitated by providers who store information about users on servers.
During a breach, financial and personal data can be exposed.
The fact that there are difficulties in managing online wallets does not mean that they should not be used at all.