6 essential tips for more secure online transactions

As our financial lives increasingly move online, digital payments have become a cornerstone of modern convenience.

From banking apps and digital wallets to cryptocurrencies, these innovations have made transactions faster and more accessible than ever. However, this convenience comes with risks – namely, the growing threat of cybercrime.

“Digital payments are here to stay, and their benefits are undeniable,” says Seifallah Jedidi, head of consumer channel in the Middle East, Turkiye, and Africa at Kaspersky. “However, ensuring these transactions are made safely comes down to basic cybersecurity practices—installing security solutions, regularly updating software, and being cautious with permissions.” By following these tips and staying informed, you can enjoy the convenience of digital payments without compromising your security.

To help you navigate the digital landscape securely, here are expert tips from cybersecurity professionals at Kaspersky.

1. Beware of financial phishing

Phishing remains one of the most significant threats in the digital world. In 2023, financial phishing accounted for 27 per cent of all phishing attacks on corporate users and 30 per cent on home users globally.

Cybercriminals craft deceptive emails or text messages that mimic legitimate communications, tricking recipients into divulging sensitive information or clicking on malicious links. To stay safe, always double-check the authenticity of emails and texts before sharing account details or making payments. When in doubt, visit official websites or use trusted apps directly.

2. Avoid banking trojans

Banking trojans are another prevalent threat. These malicious programs often disguise themselves as legitimate apps, tricking users into installing them through phishing messages or third-party app stores.

Once installed, these trojans can overlay genuine banking apps and steal your credentials as you log in.

To protect yourself, only download apps from official sources like the Google Play Store or Apple App Store, and be cautious of apps requesting permission to access your SMS messages.

3. Secure your digital connections to protect your info

Unsecure internet connections can expose your payment information to hackers. While most digital wallets use encryption to safeguard data, it’s best to avoid logging into online bank accounts over public Wi-Fi. Instead, use a 4G connection or a virtual private network (VPN) for added security.

4. Protect your devices

If your phone, tablet, or computer is lost or stolen, criminals could potentially access your financial information. To prevent this, lock your devices and financial apps with unique, strong passwords.

Additionally, set up notifications with your bank to monitor account activity and quickly spot any suspicious transactions. Remember, even small unauthorised charges can add up over time, so vigilance is key.

5. Use comprehensive security software

Installing a robust cybersecurity solution on all devices used for financial transactions is essential. Kaspersky recommends using their Kaspersky Premium, which includes a special feature called Safe Money. This tool is designed to secure online shopping and banking, ensuring that both your money and personal data are protected from cyber threats. Regularly update your operating system and apps, and scan your devices to stay ahead of emerging risks.

6. Monitor financial activity closely

Even with security measures in place, it’s crucial to keep an eye on your banking activities. Hackers might not always go for large transactions—sometimes, they start with small amounts that can go unnoticed.

Set up alerts for every transaction, no matter how minor, and report any suspicious activity to your bank immediately.

Read: Data stealers – What you should know about malware variants, protecting yourself