It has been more and more common to hear horrifying stories about scams and fraudulent transactions nowadays as hackers target victims anywhere in the online sphere.

With the coronavirus and payment transactions migrating online to reduce the risk of contamination, online payment methods have been hot in the eyes of cybercriminals.

Because of that it is important to ensure your safety and the safety of your online transaction information, and here are some ways you can do that:

1. Be Mindful Of Your Passwords

Forbes advises users of online payment methods to not save their passwords to any web browser, as this can be a way for others to access bank account information if the computer is unattended.

While it may be convenient to have all accounts accessed through similar passwords, it can be a huge disaster once hackers get a hold of this information.

With this, experts tell customers to always create unique passwords and to change them regularly with any personal login information.

2. Avoid Unworthy Portals 

NDTV says that keeping oneself safe from the possibility of falling victim to cybercrimes is a user's responsibility as much as it is that of the site operators.

Because of this, customers are warned to not visit and to not make any purchases from unrequited and untrustworthy websites as they can compromise personal data.

Additionally, when typing in a website, always begin with "https" instead of just clicking on the first result that shows up on Google.

3. Use Multi-factor Authentication

Many banks and sites offer two- and multi-factor authentication nowadays as an added security layer against hackers and other cybercriminals, Forbes says.

Multi-factor authentication methods protect users by offering other ways of confirming their identities through a face or fingerprint ID, a PIN or text code, and other methods.

Read More: How to Protect Yourself Online: Use Browser Privacy Extensions 

4. Consider Tokenization and Encryption Methods

According to Opayo, users can also secure their data and ensure that their online transactions are safe by enabling tokenization and encryption.

Tokenization removes data from the system and replaces it with associated value in form of a token, while encryption leaves the original data, but it locks them without a key.

5. Limit Bank Account Access

Smart Asset tells users that they should only shop on secure e-commerce websites, and use reputable third-party pay services like PayPal for online transactions.

Using sites like this provides a more secure transaction since their dispute resolution services keep hackers away from direct access to sensitive credit card and personal information.

6. Avoid Public WiFi Connections

According to NDTV, connecting to public WiFi does not offer the most secure internet browsing experience and online payment transactions.

Public WiFi connections can entertain access to sensitive information, which is why when outside, online transactions should be done with mobile data or should be avoided altogether.

7. Establish Firewalls And Antivirus Programs

Smart Asset writes that online payers should always keep their firewall security programs up-to-date, and equipped with a strong antivirus program.

With this, users should download and apply updates from virus and firewall programs once they are available to ensure that your data is safe from scams and hackers.

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