Cybersecurity, Expert reveals 6 top tips to protect yourself from online credit card fraud

Cyber security measures are now front and centre of most online processes, but anyone can still become a victim of fraud if criminals get access to the right personal information.

As websites get better at stopping security leaks, password hacking has become more prevalent as criminals target users rather than companies. So to help you stay safe, money.co.uk  is providing top tips to spot keyloggers and other hacking attempts as well as advice on how to keep your personal information safe while shopping online.

Identifying common types of online scams

The ever-increasing number of online stores and payment methods mean scammers can often seem genuine and hard to identify. Look out for these common types of scams …

Vishing (or “voice phishing”)

Fraudsters use phones to pretend to be from one of your service providers, claiming you have an issue that requires fixing (e.g. a faulty internet connection). These may be in the form of an SMS fake alert or reminder (‘smishing’) asking you to call a number or click on a link to resolve the issue. This could give them remote access to your computer, so they could monitor your activity and acquire your personal information.

Phishing

Attackers will pose as a reputable company or someone you know personally and contact you via email, text or social media. They may ask you to click a link and enter your personal details into a form. This then enables the hacker to use your information for their own gain.

Malware

Short for ‘malicious software’, malware refers to software variants including viruses, ransomware and spyware. Malware allows fraudsters to access your computer remotely, monitor your online activity, leak private information and record sensitive data, such as passwords and emails. An example of this is keylogging, a monitoring software designed to secretly record the keystrokes of users.​​

How to protect your credit card details …

1. Don’t give away any personal information

Fraudsters use technology to display a genuine company’s phone number on your screen. Although convincing, it’s important to remember that your bank or service providers will never contact you this way.  Ask any caller to verify their credentials before giving away information and if in doubt hang up immediately.

2. If in doubt, validate with a verified company contact

If you have concerns about a call or message you’ve received, directly contact the company the caller claims to be from. You will find a company’s legitimate contact details on its official website, and you can find your bank’s contact details on your bank statement. Ask if the call you received was genuine and find out any next steps you need to take, but never return a call from a suspected scammer.

3. Keep your tech devices up to date  

Always update your tech devices as soon as new versions are released. Not only will updates improve functionality and performance, but they also include important security updates. Deleting unused apps can also help as these may retain your personal information even when not in use.

Ensure any firewall and antivirus software is also up to date. Check that these can detect malicious malware and protect your computer to help prevent hackers from gaining access to your personal information. 

4. Protect your details against keyloggers

Implement extra protection on your personal information by setting two-step authentication, which can help identify unauthorised access attempts from your accounts. One time passwords can also be used to prevent hackers from gaining access, as this requires entering a time-sensitive code sent via text to verify identity.

5. Stay safe online

Whenever you are required to share personal information online, ensure that the websites you enter are reputable and secure before adding personal details. Make sure that you are using a secure website with ‘https://’ at the start of the URL and a padlock or key symbol in the address bar. 

6. Decrease chance of fraud

In order to prevent fraud in the future

Remember to cancel any lost or stolen credit cards as soon as they go missing. Keep passwords and PINs secret —memorise them, never write them down, ensure passwords are different for each account and avoid using personal information that is easily identifiable. Password manager software can prove a big help here. It is also important to check your account statements daily and keep a close eye out for unauthorised transactions and notify your bank immediately if you notice anything suspicious.

The following sources were used for this research