Sidestep online banking fraud during COVID-19

Aren’t you ready for yet another crisis, well, nobody is and that too in the days of coronavirus?

Even if you were not in a habit of using online banking, this pandemic must have forced you to undergo online transactions.

With more and more people inclined towards this practice, it is the time of the hour to be more skeptical about it than ever.

In fact, you should always be skeptical about the things happening around you.

And, when it comes to online banking, every account holder can make online transactions within a few clicks. For each account, there is a username, password, and a PIN to protect it.

Well, that’s not enough because scammers can crawl in from any corner or loophole.

So, here’s the deal with which you can protect yourself from becoming a victim of online banking fraud.

Always be skeptical

There’s no doubt that these days our world revolves around the internet. From online shopping to paying for services, every month we make a lot of transactions.

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But, have you ever thought about the risks involved in it? If not, then do it now.

Well, there are some things to consider if you use online banking regularly or sparingly.

Here’s the deal:

Using a strong password or an effective password manager can help you avoid a situation where you are at a big financial loss.

Since passwords are considered the first line of defense for providing protection to any online account, hence you are strongly advised to use a password manager.

For this, McAfee True Key will serve the purpose by unlocking your digital world with safety.

I would also suggest you to use two-factor authentication to provide an additional layer of defense to your accounts.

But, what does it actually mean?

Well, you will receive a one-time-use code to gain access to your account and this code is sent to you via email or text message.

Avoid phishing attacks

Being skeptical about every email you receive the key for sidestepping online frauds.

If you do not know what phishing means, let me tell you about it.

It is a kind of fake email that crooks send you in order to gain some personal information of the receiver. They lure you towards clicking on the link given in the email which once clicked will transport your information to him.

For that matter, you should not click on any link that you have received from an unknown or suspicious sender.

Other than this, being skeptical about fake calls is yet another practice to avoid online banking fraud.

In most of the cases, it is found out that a person representing to be from an authorized bank lures the customer to give in to the online breach leading to a huge financial loss.

Last but not the least, I would suggest you not to use public Wi-Fi for making any kind of transaction.

Also, you should review your credit report often and look for suspicious transactions, if there are any.

If you find anything of that sort, report it to banking authorities immediately.

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