Protect your digital wallets!

Protect your Digital wallets

Cybercrime refers to the process of using computers and networks for conducting illegal activities including spreading viruses, gaining unauthorized access to personal information, conducting unauthorized electronic fund transfers, and etc. Cybercrime is of different types from computer fraud to identity theft, electronic fund transfer, masquerade attack and others. As the use of digital wallets and conducting online transactions are becoming mainstream, applying prevention measures against cyber fraud has become essential. So, today, we have a few tips for our customers to keep their wallet safe.

Install apps only from authorized app stores. Installing applications from third-party app stores, website pop-ups, or other unknown sources might contain malware. This malware could provide hackers with complete access to your device and they could hack into your mobile wallets, so do not download or install applications from unknown sources.

Even while downloading applications from authorized app stores and play stores, be aware of the permissions that the apps are asking for. If applications are asking for permissions that they do not necessarily need, then it is better not to download the app as there are chances of it containing malware to steal your information.

Another thing to keep in mind is not to provide apps with permission to read your messages. Giving any app the permission to read your messages means they might also be able to read one-time passwords. Furthermore, never share your one-time passwords with anyone. Social engineering scammers might masquerade as an official representative of a company and ask you for your OTP then access all of your account information, so be aware of these tricks.

Lastly, avoid using public Wi-Fi or shared devices to access sensitive information. Public Wi-Fi may not be equipped with high-security measures; thus, hackers could easily steal information through them. Instead, use a VPN for conducting online financial transactions as much as possible.