What Security Steps Seniors Should Take When Conducting Online Transactions

 What Security Steps Seniors Should Take When Conducting Online Transactions

Shopping, banking, and other activities for senior folks have become much more enjoyable and comfortable thanks to online transactions. To prevent fraud, people must be aware of safety precautions.

More than 13,000 financial frauds occurred in FY2022-23, according to media reports based on Reserve Bank of India (RBI) data that was made public. A sizable portion of these frauds involved transactions using digital payments. Online transaction fraud is on the rise on an annual basis. Senior citizens need to exercise particular caution because they frequently are not aware of such tricks.

 

So let's learn some crucial safety precautions that seniors should observe when engaging in online transactions.

 

Software May Only Be Downloaded From The Play/APP Store

 

You must only use authentic software for doing online transactions, whether you are using a computer or a mobile device. You should download the APP from the Play Store or the App Store if you're using a mobile device. When doing an online transaction on a computer, you should utilize a legitimate web address that displays a valid SSL certification.

 

Create a Secure PIN and Password for Online Transactions

 

Always create a strong password for your account before carrying out any kind of online transaction. Your password should contain capital and lowercase letters, numbers, and special characters. Never use a password that is widely used or that is obvious to scammers.

 

Try to retain the password in mind, or if that proves to be difficult, write it down on paper and store it securely in your locker. Passwords can also be saved in mobile apps, allowing for a high level of encryption and security.

 

Never share your OTP or any other sensitive information to anyone.

 

An OTP shared through email or SMS is frequently required for sensitive online transactions. Such OTPs must not be disclosed to anyone. You could occasionally receive a call from fraudsters demanding you to reveal the OTP while posing as a bank representative. Because a bank employee never inquires about your private or sensitive information, you should never rely on such phone conversations. 

 

Maintain Security Software Updates On Your Computer and Mobile Devices

 

Security patches are frequently released by mobile phone manufacturers and computer operating systems to improve and strengthen the safety features on your device. Always keep your device's security updates up to date. To further increase the security of online transactions, you can install security software like antivirus on your device.

 

Don't click on unfamiliar links shared in your emails, SMS messages, or social media posts.

 

If you are unsure whether a link provided on your email, SMS, or social media account is real or false, avoid clicking it. Fraudsters frequently transmit a false link that they exploit to access the recipient's device and steal information.

 

You shouldn't limit yourself to the aforementioned safety precautions because con artists come up with new methods of deceit and cheating every day. To conduct a secure online transaction, you must be alert and aware of the warning warnings frequently given by banks and financial organizations.