WayS to SaFe YoUr PerSonal & fInaNcaAl datA..

E-commerce has now become a part of business transaction where the process of buying, selling, transferring or exchanging product or information is link to computer network. Millions of consumers worldwide rely on the internet to do many of their transaction such as online banking service, purchasing goods and services. Unfortunately it is difficult to identify every website whether they engage in fraud. Therefore, many online consumer are still uncomfortable with the online transaction process, they are always concern on whether or not they can trust websites that can ensure that their personal and financial data are in safe condition.

Few ways to safeguard our personal and financial data includes:

a) Before we start any transaction or transferring data, we have to ensure that our recipient is the correct person we expected to be. This is know as authentication which can be verify by, something only both party know such as password, something that need to be process like smart card something that can be identify easily for example signature or biometric system.

b) Besides that, we must also ensure that we are accessing into the correct websites. Always avoid phishing where your personal information such as account numbers passwords and credit card number will easily gain using fraudulent e-mail, messages that appear to come from legitimate businesses. To safeguard against phishing, we should always go to the website directly by typing the URL rather than via links in emails.

c) To ensure that we have safe transaction made, ensure that u never disclose your username and password on any websites especially for bank account or any other transaction. Always keep private and sensitive information from being known by third party. This is because anyone who has your username and password will have the authority to access to your information.

d) Always choose your PIN wisely. When you want to choose something that you will always remember as your password, make sure that you don’t put in your date of birth or your childs name that can be easily figure out by clever thief. A combination of uppercase and lowercase letters, numbers and symbols may offer you better security.

e) In every transaction made, especially in the bank, there should be a monthly statement post to you to alert you to possible fraudulent charges, you may also find legitimate charges for services that are either redundant or no longer necessary. Therefore, we must always review our monthly statements to ensure that only transactions that exist are recorded.

f) Lastly, change your password regularly so that outsiders will not easily get your password to prevent from unauthorized used of your account on any transaction.

By Cherly Khu