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Despite the immense advancements the internet has ushered into our lives, it’s also provided a route for those looking to get their hands on our hard-earned cash. By becoming the global platform for shopping, finance, entertainment, and everything in between, we now live in a society where trillions of dollars worth of transactions occur online in the US daily. We’ve compiled a few handy tips to keep your finances safe online and how to spot some of the warning signs that a site or a service might not be as legitimate as it initially seems.
Practicing Safe Financial Literacy Through Gaming
Keeping your money safe online doesn’t just focus on having strong passwords and ensuring you’re on bonafide, verified websites. Of course, this should be at the foundation of any online transaction, but it’s part of a broader underlying ethos that you shouldn’t stray too far from.
Casino gaming is a good example of this, as safe gambling and financial literacy should be the bedrock of any strategy when placing a wager online. Digital casino gaming doesn’t always involve cash wagers, though. Over the last few years, there’s been a rise in the number of people seeking out sweepstakes casinos where you can play casino games without putting your hand in your own pocket. Sites like Chumba Casino have developed models that focus on the gaming aspect more so than placing real money bets. The guys at WSN.com have created an overview of 9 alternatives to Chumba Casino, where they compare different aspects of the sweeps casino games.
They allow you to gain experience in casino games you might want to learn more about and provide an authentic experience without worrying about losing money. They’re a good way to keep your money safe online if you’re more interested in the gaming element of casinos rather than potentially losing some of your cash.
Become Familiar With Products & Services
If you’re looking to invest in a product, it’s vital that you understand it and the companies that operate within that sector. For example, investing in commodities is a niche type of investment, especially for retail traders. If you are not well versed in how to do it or which companies offer these types of services, you risk connecting to rogue websites or being stung with fees you don’t understand correctly.
Website & Mobile App Mechanics
Fraudsters and cybercriminals will stop at nothing to access your financial or personal information. A growing, worrying trend is using QR codes to connect to scam websites that can often look identical to bonafide, recognizable companies. Public WiFi connections can also be a hotbed for cyber criminals to pose as genuine networks, allowing them an illicit route into your mobile device to access your information. A general rule of thumb is to go to a website independently on a trusted WiFi connection.
So, if you want to purchase any type of goods or service through a prominent online merchant, visit their website via their verified social media page. They will always have their verified site in their bio. If you’re downloading their app, be sure you’re downloading the right one, not a pirated one that hackers use to steal your data.
Verified websites are easy to find, especially for large corporations. Search engines will ensure that they put the verified site at the top. Once you access the site, you can click on the padlock next to the website URL, and it will tell you who owns the domain and whether it is a verified website. For instance, Nike’s website is the first Google search; if you go to the padlock, it says the website is certified and issued to Nike Inc. All significant corporations will have this digital seal of approval. You can use their site as a springboard to download their app and purchase items, etc.
Many different types of antivirus software flag bogus websites before you enter them. Dangerous sites will have the padlock crossed out, and you will be told which elements are unsecured, such as images, or to avoid links. As a general practice, it’s a good habit to avoid entering any financial information on these types of websites. If websites offer a deal that sounds far too good to be true – disclaimer, it probably is.
Using Different Payment Systems
Some people who make purchases online will use digital wallets like PayPal, where they connect their email instead of inputting card information. Others prefer to use credit cards for online transactions because if a hacker or cybercriminal gains access to them, it means that they aren’t draining funds from your checking account.
Some people prefer to leave the bare minimum they need in their main account and switch their funds to a savings account—so again, if somebody gains access to the card and tries to use it, they will not be able to access all of their money.
Final Thoughts
Usually, it’s best to be overly cautious rather than throw caution to the wind—especially regarding money. Ensure you’re connecting to legitimate websites, avoid public WiFi connections, explore different payment options, and try to avoid having your card details saved across multiple websites. Also – remember to keep your eyes peeled for deals that appear to be too good to be true because they most likely are.
