10 Sep 2024
The risk of encountering cyber threats rises with the adoption of digital platforms in nearly all sectors of our lives, including global money transfer, e-commerce, and communication through social networks. From fraud to identity theft, it can escalate to a new level with various effects. With cybercrime losses reaching more than $10.5 trillion by 2023, being secure online is not a luxury but a necessity. Understanding the elements of safe internet use with increased internet use in society is just advisable. So, let’s proceed to the promised ten tips on minimizing the risk of dealing with scammers and safeguarding your identity and money.
Here are the ten easy ways that you can apply to have safer online encounters:
Your password is your first and often only shield against hackers and cyber attackers. A weak or reused password is similar to leaving the main door open, allowing hackers to enter your home and steal your and your family's details and hard-earned money. Using the same password on different accounts dramatically increases the chances of a break-in on the accounts. Most account hacking results in the password being cracked, meaning that if one account is hacked, all others with the same password are vulnerable. Still, one of the latest studies shows that about 81% of breaches resulted from using easily guessable passwords or those utilized in another context. So, always ensure safe passwords for different purposes, i.e., for an online money transfer.
The rules for creating passwords include:
Two-factor authentication (2FA) adds an additional layer of security because even if the user's password is hacked, the account won’t be easily vulnerable.
2FA means an additional check besides the password: you enter your password, and then, you are asked for another verification code, which you can get as a text message or using an authenticator application.
By implementing 2FA, you can reduce the account breach rate to less than one percent. This basic but effective measure has now been widely adopted by people across the globe to protect their accounts – from email to banking.
Phishing schemes are also recognized as one of the most frequently appearing and successful kinds of cyber attacks. These scams deceive you into sharing your private information by pretending to be genuine companies.
Many phishing emails contain an urgent call for information, incorrect spelling, and incorrect links. Never reply to an email from an altered address, and be on the lookout for disparities in the message.
If you get an email or message like this, do not reply. Click on any links or attachments in the email or message. The email should be deleted and then forwarded to the organization being impersonated.
Using old software is a mistake because hackers can easily take advantage of the weak spots in the program and infect the device. Whereas patching your software frequently helps prevent you from being susceptible to these attacks.
One of the most common updates in a program or an operating system is the patch that fixes security issues. Failure to perform these updates closes the door for you to protect your device from debilitating attacks that can be prevented.
Always enable auto-update for your gadgets when the option is available, and always ensure that you update all software you may be using, such as applications and browser plugins.
Although accessing the Internet through Public Wi-Fi networks is easy and efficient, it is accompanied by severe security risks. Such networks are open to everyone, and hackers can easily extract your information, personal or financial or send money through them. The dangers of accessing public Wi-Fi, especially at hotels, restaurants, and airports, can compromise your data since hackers can easily get into an unsecured network and siphon off important information like your username and password, ATM PIN, credit card numbers, and other personal details.
A VPN secures your connection with anyone online by encrypting your internet connection and making it difficult for anyone to access it. Without using a VPN, you can avoid any sensitive activity that involves using the internet on public Wi-Fi.
This method also helps you check on your accounts frequently and solve any small problems with fraudulent uses.
Money fraud scams may happen at any time. Initially, a small amount may be stolen as a test before a large amount is stolen. Prevention is better than cure, so it is, therefore, important to recognize the problem at its earliest stage possible.
Be on the lookout for those micro charges with descriptions that are unfamiliar to you; these may be fraudulent charges. Some of the alert services provided by many banks include a service that provides notification of account activity so that you can be aware of the appearance of any problematic signs.
Social networks are helpful for communicating with people, but they have drawbacks that allow you to meet different risks when you need to pay more attention and think about how to behave.
Hackers regularly search people’s social media accounts for any information they can use in social engineering to trick the targeted persons into surrendering sensitive information.
While shopping through the Internet, one ought to pay close attention to the methods of payment to avoid being duped or even incurring unauthorized charges.
Credit cards come with better consumer rights policies for fraud cases and other instances, such as the freedom to challenge card charges and set spending limits within which the cardholder will be held accountable for any fraudulence.
Other features included in digital wallets like PayPal, Apple Pay, Google Pay, etc., include encryption and fraud protection, making sending money online safer than using debit/credit cards.
One of the best ways to protect yourself is to remain informed about the most recent scams circulating. The only way to defend oneself is to avoid getting into such offers and fraud by learning the tricks that are being employed.
Information on the latest threats and protection updates should be obtained from reliable sources such as government websites, cybersecurity blogs, and popular news.
It is your data, and safeguarding it and ensuring that it does not end up in the wrong hands should be a priority. Be careful about where and how you disseminate your data.
Change the privacy settings to define who can see your details and what you post. This can prevent scammers from accessing your data.
Be sure to have robust, distinctive passwords, do not disclose personal details in public domains, and be selective with the sites you access and the emails you open. Engaging in encrypted communications and performing secure–identity communications is also effective for your safety.
At ACE Money Transfer, we value your hard-earned money, and this is why we have taken some measures to ensure that all your money is secured. Our focus on your financial situation remains, though we keep evolving as an organization.
The confidential information that is transferred is secured by strong encryption techniques that ensure that the information is not intercepted during transfer.
Some measures include modern anti-fraud technical tools that track transactions and prevent unauthorized access and fraud.
We ensure that users have different ways of payment so that their money gets to their destinations securely.
Our committed customer support department will help you with any issue or query.
When it comes to your online safety and your money, don’t leave it to chance—use ACE Money Transfer. Try our money transfer services now—they're safe and comfortable!
Internet safety is all about being alert, informed, and using the proper resources. It’s true that strong passwords, enabling two-factor authentications, not falling for phishing scams, continuously updating the software, and frequently inspecting accounts will also cause a low likelihood of online threats. The privacy and security of the clients engaged in money transfer services are ACE Money Transfer's business priorities. Secure your online presence now and leave your digital safety to ACE Money Transfer. Your safety is our main concern.
Set complex passwords at least 12 characters long, containing upper- and lowercase letters, numbers and special characters. Avoid using easily guessable information.
Two-factor authentication is achieved by having another part of the security, such as the text code, after entering the passwords.
Phishing threats include time-sensitive messages, misspellings in the text and fake Web links. To avoid being scammed, one must refrain from clicking those links and report the scam to the authorities.
Using Wi-Fi in public areas is a big no since it is easy for hackers to compromise the network. Do not do sensitive transactions unless you are connected to the VPN.
Implementing credit cards and digital wallets is safer in terms of fraud protection and secure features of the transactions.
