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The digital world we live in today means that everyone can access financial services at their fingertips including transferring money, paying bills, cashing checks, and so much more. However, as with all things technology, there are always cybersecurity threats to be aware of. Throughout this article, we’ll tell you how to keep your data and your funds safe when making a transfer.
Only Use Reputable Companies
When you send your hard-earned cash using a digital service, you need to have full confidence that your funds will be kept secure. A great starting point is taking a look at service fees and exchange rates, which will be explained clearly by any legitimate company. Additionally, you should check a company’s history and online reviews. Sites like Ria Money Transfer will proudly display their star rating.
Look for Encryption and Authorization
When you’re doing anything involving your money online, make sure you’re using an encrypted service. If you’re using a web-based service, the best thing to do is check for HTTPS, which you can see by looking for the padlock in the address bar. As well as looking for encrypted services, you can verify the legitimacy of a service by looking into their verifications. For example, are they regulated by the OCC, FDIC, or the Federal Reserve System?
Make Sure Your Connection is Secure
Whenever you’re sending money online, make sure you use your own devices and a private Wi-Fi network. If you choose to connect to a public network, any data transmitted across the network becomes vulnerable to cybercriminals. Additionally, the connection can be used to plant malicious software on your device, which will cause you even more trouble.
Securing your connection doesn’t stop with the Wi-Fi network; you also need to make sure the provider you’re using is secure. Whether you’re using an app, software, or web browser, make sure that it’s updated to the latest version, which will enhance the security features.
Be Vigilant of Scams
Cybercriminals are always hard at work looking for ways to profit from the innocent, which is why there are so many scams and fraudulent activities out there. Luckily, spotting a scam is often pretty easy, regardless of how convincing it is. For example, phishing emails are often littered with typos and will directly request your data, which a legitimate financial institute will never do.
If you’re ever unsure about an email or other source of contact, you can verify its authenticity by reaching out to your provider’s customer service.
Keeping Your Data Locked Away
Technology has evolved since the early days of the Internet, which means hackers have more sophisticated tools for stealing passwords. Therefore, you must make sure you use a complicated password using special characters, numbers, and a mixture of lower and upper-case letters.
Sending money online can be done in a couple of clicks from a smartphone, but you need to take the above measures to ensure your data and funds stay safe.