How do I secure my online transactions?

These days online transactions are increasing and simultaneously frauds are also increasing. So one must be very careful while doing these online transactions. Following are some of the points which are good to maintain for safe online transactions.
1. Make the passwords as difficult as possible. Use upper case and lower case letters as well. Use special characters and numbers also. Never use the same password for different sites. If you have to bank accounts, keep separate passwords for both accounts and make them as complicated as possible. Don't write and keep them somewhere. If you want you to use some codes so that if you forgot the passwords, by seeing those codes you may remember your password. It is always better to change the passwords at regular intervals.
2. Always log out of the site after completing your transactions. It may be a bank account or credit card account or Merchant account log out after completing your transaction. Never allow the site to remember your passwords and IDs. When you set up the security questions try to give very specific information which is known to you or prefer giving a piece of wrong information as an answer than giving true information.
3. Use a reputable third-party payment service only for online transactions. There are many such sites these days and apps are also there. Use them only. Please make sure that all your online transactions are done on sites where the site address will begin with "https://.".
4. Never carry out any financial transactions online when you are connected to public wifi. You should use your own wifi. You can do it from your smartphone by using data. Never do any financial transactions from other's smartphones. Always use the updated version of the browser.
5, Check the logos of the sites properly before you start doing online transfers. It is always better to restrict usage of only one credit card for online transactions so that you need not expose the information of all the cards online.
6. Use the most up-to-date version of a strong anti-virus and firewall security program on your PC or mobile phone so that the information will be secure. Always download all updates of these programs as and when they are available. Scan your computer regularly for viruses.
7. Never post personal information online especially on social media. There is a chance they may be hacked.
8. Never use public computers for your financial transactions.

Hello Dr Paresh,

Actually, whenever you connect to internet, your security is void. You are always at the risk of some kind of harm like Data theft/privacy/financial being the last.

Coming to question, we can follow best practices to avoid financial fraud.

1. Open a Bank Account with any bank, even Payments Bank which issue debit card.
2. Do not use your primary bank or Card for online transactions on any of merchant website, neither enter Any Card/Login details on any websites.
3. Whenever you need to make online transaction, use Netbanking to transfer required fund to account that you have on Step no 1 and use that card for online transaction.
4. Do not be greedy, never ever enter card details or netbanking details to rerceive Gift Cards/Coupons and Promo codes from untrusted websites/whatsapp forwards etc.
5. Now RBI has mandated all card providors to provide feature to set limits in card and also which kind of transaction to allow or not. Visit your Netbanking or Official Mobile App from your Card-Issuing bank to make necessary changes. For Ex. I only enable International Transactions when I need and after successful transaction, I disable that. In case of any fraud, it will be disabled. Similarly, I set the transaction limit to bare minimum.

Also, always create strong password for Netbanking/Financial application and never use that password on any other websites like Community/Social Network/Education or any other.

Thank you
Deepthi Sharma

Shopping and Banking transactions occur constantly in the market place and there is always the risk of financial loss by way of such transactions due to the involvements of fraudsters in the process of online transactions. However, credit cards offer more protection to consumers rather than the debit cards. It would be better on the part of the consumers to read the fine prints applicable for debit and credit card agreements so as to remain in safe mode while using cards.
Consumers should adopt the following strategies while doing shopping onlines so as to arrest any loss by way of transactions. The following points could be helpful.
1) Make a Password as difficult as possible- You can use both the letters and numbers matrix in such a fashion that the fraudesters cannot acess the password as chosen by you.
Never click on any links connected to your email asking for your identification . In case, you suspect something which might have gone the other way, intimate the same to the concerned agency through the phone immediately.
2) Never disclose your personal information- Once the transaction is over, you need to log out immediately from such sites and so is the case with the merchant and credit card sites. In that you can save yourself from the frauds during the process of transactions.
3) Use a reputed third party for making payments- Always use a reputed party for making payments while connected to online transactions such Pay Pal and other safe portals. In that way, you can make a secured transaction.
4) You must use a secured Internet connection- As far as possible, avoid using a public wifi. Your internet browser must be backed with the latest version of updating security features.
5) Ensure that you are safe visiting any sales sites - This can be done by clicking on the logo to verify the authenticity of the site and for this, you will have to click on the logo to verify its identity.
6) Use a Antivirus Programme- You should switch over to a virus scan regularly on your computer. Ad blocking software programmes and spyware detective programmes should be used and ensure that the programmes are updated periodically so as to avoid illegal transactions.
7) Personal Informations are to be restricted- Disclosure of your date of birth or your spouse or any sensitive personal information should not be displayed in the networking sites including your Facebook.
8) Take care of Email Security- In case, you happen to come across a chat request, instant messaging or any internet site appearing suspicious, close the browser and the email feature by switching over to shutting down your computer so that you don't land into financial losses.

Online transactions have an inherent danger of getting entangled in the hacker's trap as some hackers use latest techniques exploiting the user data. It is imperative that the user must be vigilant on this account. What I would suggest is, as the primary means to observe safety, one has to keep the mobile or laptop in god condition. By good condition, I mean that it should have a good anti-virus software which keeps a watch dynamically and gives a message in case of a doubt so that the malicious files can be removed or deleted. So keeping the anti-virus program updated and identifying the unwanted cookies and other threatening spam files becomes an important consideration. The there are other precautions that are also very important and are as follows -
1. One should regularly change one's passwords and try to keep numbers, capital letters, special characters in them to make them complicated.
2. Do not disclose your personal data, bank account number, personal data to doubtful sources.
3. Ignore cryptic emails and notifications. We should not open the doubtful emails. They will contain some sentence like - Your refund is deposited in your account ..., Your award is on the way, track it ..... etc.
4. After the work is over close the open applications and windows.
5. Keep a record of your transactions especially in a summary format so that if some change is found later, you can catch it and get the mistake rectified.
6. Keep the numbers of the banks etc handy so that we can inform them in time in case something of that sort happens resulting in monetary transactions by fraudulent agencies.
7. Do not surf the sites mindlessly. Go to the reputed sites and restrict to them only. Generally sites wing https: in their address are the safer ones.
8. Avoid playing games in the device which you use for payments etc. Some games contain malicious attachments.

Theoretically and practically there is nothing as '100% security'. Just as innovations are coming every day in thousands, new criminal' tricks are tried and succeeded by those having intention to defraud. Hence, what was hundred percent secure till the other day will become unsecure the next day. It will be so until a new remedy is found. So this is a dynamic process and we have to accept it as such and use our knowledge, precaution, and prudence properly and remain alert and vigilant.

However we can do online transactions more or les securely if we follow certain practical guidelines and follow a healthy habit online. I am doing online transactions for last many years.

1. Have a good Internet security software in your smartphone and/or desktop/Laptop which you use for on;line transactions. Keep that updated to the latest. Some such security software have additional or special protection(like 'protected window/tab" )for financial transactions. If so install and use it for your transactions.
2. Do not store your passwords or PIN numbers in the same device which you use. Store it in your mind or if needed store it in an unconnected device. Change passwords periodically. If possible use separate passwords for different categories of transactions. While selecting passwords observe and ensure the display(in certain sites) as
'very strong'.
3. If possible segregate your transactions in smartphone and desktop/Laptop or different type of transactions .

4. Lock your smartphone screen suitably and also restrict opening and use of your desktop/Laptop by others using password and file lock.
5. Ensure to clear browsing history and even cookies before and after doing online transactions.
6. Ensure you get receipt or confirmation for your transaction immediately to your email/ as SMS message. If not visit the dealing site and verify and if in doubt, contact the customer care section.
7. Verify periodically the statement of your bank account and ensure that everything is proper.
8. DO NOT hurry in such transactions. Be calm and read the URL and ensure it is the original site you wanted. Ensure there is the 'Lock' symbol in the URL address.
9. Do not rush to click on any link or slot before properly reading and understanding them and ensuring safety and genuinety. Keep al required details with you before starting transactions.
10.Do not leave your screen idle for long during transaction. Be alert and watchful for any pop up.

11. It is very important that you keep a separate bank account and/or wallet account for online transactions. Do not keep high amount of balance in that account. You may keep a reasonable amount only based on your requirements of transactions.

The above are the tips I can give based on my experience and practice in doing online transactions.

Increasing technological development and new forms of digital activities such as online transitions have given people ease in daily life tasks, but on the other hand, it has also created many new threats. Paying online has become very common nowadays and people also find it more convenient. But sometimes some carelessness is overshadowed, so one should never be negligent in online communication and keep in mind the following things -

1.Use an antivirus with good protection. It is important to keep an eye on cookies with the browser because it keeps giving information about you to any website. When you use any privacy tool on your device, it works to monitor cookies.

2.On the browser, you should be careful about some other security features. These are the things that will be taken care of, so your browsing will always be safe. The browser must always be updated

3.The website address starts with HTTPS. You can trust them very comfortably. If the only HTTP is written on a website then it means you should be a little careful. The word 'S' used there is associated with security. You should avoid giving personal information on the website which is written HTTP.

4.Any data is protected by encryption. So that our data do not face any kind of loss while in the network. Or they could not be stolen. Therefore, before entering the data, always make sure that the website is using encryption or not.

5.Do not use a common password for online transactions. Because if a hacker gets access to your password, then he can easily manage his access to all your accounts. Therefore, it is important to use different passwords for the transaction to protect yourself.

6.Use your personal laptop, computer, or mobile to do any kind of transaction. Keep in mind that never use a public computer or any other gadget for transactions. Nor should you ever conduct financial transactions on any public Wi-Fi.