Over the past years, there has been an alarming increase in the cases of fraud on the internet. This has mainly affected online transactions, whereby people have lost huge sums of money. Despite the huge efforts to curb such incidences there are still unsealed loopholes. Research done by SmallBizTrends showed 27% of online transactions experience fraud.

The disappointing part is that some of this happens due to avoidable mistakes. With the right measure, you can avoid such activities. You are probably wondering how this is possible. Well here are the simple tips for secure online transactions.

1. Never share your password

This has been said many times but people still fall into the trap. Never share your password with anyone. With your password, anyone can have access to your account. Even though other additional security features are incorporated, the password remains to be the most prioritized.

In any case, you forget your password, you are supposed to request to change to a new one. This is done through the Email you used to register for the account. That means anyone who has access to your Email address can request a password change. Just like that, you lose your account and all the money in it.

Therefore, never share your passwords. Whether it’s the Mail’ or the online account’s password. Moreover, use a password that is not easy to be forged.

2. Avoid logging in to your account on foreign devices

Another safety measure is avoiding logging into your account on other devices. This is because through this someone can easily take over your account. Only use devices you own and trusted ones.

If you have to use another device ensure you log out after using it. In case you forget to log out, immediately change your password. On most devices, they will ask you to save your password after logging in. Ensure you don’t allow that.

3. Use a strong but easy recall password you can

When choosing a password choose a strong password. Furthermore, ensure you can remember the password. This will guarantee you safety and at the same time assure that you will not forget it. A strong password should have.

•Uppercase letters.

• Lowercase letters

• Contain Numbers

• Special characters like @ #

When you combine are these characters it will be difficult for anyone to guess. Besides, for purposes of recalling the password, you can note it down somewhere safe. For example you can save passwords with google.

4. Ensure you use your details to open an account

In most cases, you will need An Email and a phone number to open an account. Ensure that you use your details for this. This is necessary for receiving updates and Security settings. In the future when you will need to reset your account it will be easy. This is unlike when you use other people’s credentials.

This may also be handy to ensure no one can reset or deactivate your account apart from you. You will also realize most service providers will shut your account immediately they realize you are not using your details.

5. Withdraw your cash soonest.

After receiving payment on the various online gateways withdraw the money to your bank account a soon as possible. It’s good to wait till when you are comfortable to initiate a withdrawal, but don’t wait too long.

Moreover, ensure that you withdraw using a safe method. Here is an article that will help you choose a suitable payment gateway.

6. Contact the support team if your account is compromised.

Whenever you detect any unauthorized activities on your account contact the support team immediately. In most cases, if someone logs into your account there is an email sent to confirm if you were the one trying to log in. If it was not you, follow the instruction given to secure your account.

In such a case it may also be necessary for you to change the password. Ensure you use a password that you have not used before.

7. Use unique passwords

It is recommended you use a password different for different accounts. Many experts recommend these especially after the occurrence of many data breaches in the past years. These data breaches have led to millions of user’s passwords being decrypted. Thus causing a lot of risks, such that if one account is affected by the data breach. This means other accounts with a similar password might be stolen.

To avoid such it’s good you use a different password for every account.

8. Never click on suspicious links

Another common way that online workers lose their money is through a Social engineering technique called fishing. This is whereby you click on a link that claims to offer some services. Then when you click the link you find a friendly website that prompts you to enter your details. Just like that the owner of the site gets all your credentials including the password. The worst of it all is that everything seems to work well until you realize missing funds in your account.

These links are sent through Email or other messaging services. Avoid clicking them as much as possible. Only click on links that you know are from a genuine source. 

Final Thought

You need to have a guarantee for the safety of all online transactions. The above Safety Measures when making online transactions are handy to keep fraudsters away.