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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. 

DESCRIPTION

Becoming alert and beware is one of the best methods to thwart any online data theft or scam apart from taking various steps.

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