VALUABLE INSIGHTS INTO PERSONAL FINANCE SECURITY AND PROTECTION
Getting swayed by the speed and automation in the digitalized
transactions is something that many people do not approve of.
Becoming a pessimist is sometimes useful, especially for taking
care of one’s finances.
With many unethical hackers and other phishing activities done,
the occurrence of data or money theft has become a regular thing for a common
man to face.
Many emerging e-commerce websites boast of fraud-proof payment
gateways for enabling good shopping experiences.
However, the reality is far free from facts.
Unauthorized financial fraud in the UK had an increase of 16% in
2018 as against 2017.
In 2018,
UK FCA reported 84,624 cases of push payment scams with losses
amounting to 354.3 million pounds; and
Financial fraud losses by the percentage of weights amounted
by:
56% for payment cards frauds
12% for remote banking frauds
2% cheque frauds; and
30% authorized push payments scams
And
Card fraud losses in percentage weights:
Remote Purchase: 76%
Card ID theft: 7%
Lost and stolen cards: 14%
The Card has not received: 1% and
Counterfeit cards: 2%
All this data shows that the emergence of online scams and
frauds is only set to become a plague-like thing that should be tackled
proactively, and not reactively.
Our times in life change and some bleak years also come in with
many problems.
Various financial emergencies pressurize people to take credit
card and loan options, even though they may not be affordable.
Nevertheless, installment loans for bad
credit are a unique loan
product by reputed finance companies of the UK providing funding assistance
digitally.
Very pocket-friendly repayment options for all, even those who
are struggling to gain funds because of them having low credit scores and bad
debts to be paid.
Few clicks on the website of the online are all it takes to get
the entire loan amount credited right into the bank account of the borrower
after the initial formalities.
WAYS TO PROTECT INTEGRITY IN PERSONAL FINANCE
Below mentioned are some practical ways to protect one’s funds
and related information in the cyberspace:
NO POSTING OF PERSONAL INFORMATION ON SOCIAL MEDIA
Many people are excited by posting themselves and their personal
information freely on various social media platforms.
This is not at all a right move.
Social media is filled with an ample number of hackers and fraudsters
looking out for vulnerable people offering personal information.
In the process of one becoming famous and gain maximum likes or
shares, it happens that crucial information gets out for the public to use
inappropriately.
Therefore, making use of social media platforms should be in
practice, sans personal information feeding.
Even through photographs, one can discern the location of a
person and plan something adverse, which you should avoid in any case.
USAGE OF PAPER SHREDDER
This is one of the old fashioned methods but is still very
useful.
Paper shredders ensure that noteworthy documents containing
various monetary and bank account details are not worth comprehension by
anyone.
Lots of past and outdated documents sometimes put in garbage
cans for throwing them off and fraudsters to gain valuable information on a
person can use this.
Especially in the office premises, when large amounts of such
documents and papers become useless after a specific time, paper shredders to
shred them off is a smart move to thwart any fraud.
MAINTAINING AND UPDATING COMPUTER SECURITY
The importance of cybersecurity is something that will remain
until the time immemorial.
As time passes, new and better variations of cybersecurity are
available for purchase, and this should become part of one’s laptop or computer
system.
Whether it is in the form of Anti-virus, firewall, or
anti-spyware, buying an upgraded version of a good reputation will ensure no
unnecessary identity or data theft happens.
BANK ACCOUNTS MONITORING
Very fundamental for handling safe one’s funds are regularly
keeping surveillance of debit and credit transactions.
Maintaining updated records of passbooks, bank account details,
not only in the digital format but also in the physical form can ensure that
one remains alert for any fishiness.
Moreover, a person should also prescribe themselves for all
types of smartphones, email, and other alerts as and when a real-time monetary
transaction takes place.
This ensures that one’s data and money security is within reach
for easy surveillance and any remedial actions.
USING APPS WISELY
The emergence of apps is technologically exciting. However,
along with it comes the fear of any data integrity theft.
Many apps, especially for money transfer and mobile payments,
are vulnerable to not able to tackle hackers and thus valuable information of a
person gets stolen easily.
All that the individual did was just downloaded an app for use.
Accompanied along with this is the usage by people of public
WiFi networks which are prone to easy hacking and other online frauds.
Thus one must not only beware of apps but also ensure that
public WiFi systems are used wisely as it provides third party access of
unscrupulous people.
People can now avail secure finances through doorstep loans
which enable them to fund the installation of the system or to hire a
specialist to do the proceedings.
No travelling required in the bad weather, these cash-at-door
loans by online lenders enable people to compare and gain knowledge of the
various loan products and chose smartly.
The agents of the company will visit the premises of the
borrowers and assist them to complete the whole loan transaction, quickly.
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