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October 14, 2015

Fraud Protection Tips: 3 Ways to Protect Your Financial Information

Fraud ProtectionIdentify theft, fraud and stolen financial information are on the rise. However, there are viable ways that you can protect your mobile wallet, passwords, identification log-ins, credit card numbers, and more.

Online Safety

Especially online, it is critical that you do everything possible to keep your financial information safe. Every day, thousands upon thousands of criminals are on the prowl for their next victim. After obtaining financial information, criminals wreak havoc on people’s lives. In addition to fraudulent purchases, criminals steal proprietary business data and complete identities. For victims, it can take years to recover.

When dealing with credit card processing, remember that today’s consumers and merchants can never be too cautious. This is evident in the numerous businesses hacked over the past year, including large corporations like Sony, Home Depot, and Target. Prevention is critical.

  1. Wireless Networks – When waiting for a flight at the airport, having coffee at a local diner, or staying the night in a hotel, you can always find a wireless network connection. However, make sure it is secure. Whenever you use an open network, even when hosted by the establishment you are visiting, you take a huge risk of having your financial information hacked. Even for your wireless network at home, make sure you enable the encryption and choose a strong password. 
  1. Social Media – For sharing personal and business information, photos, and videos, social media sites are great. While there is nothing wrong with using Twitter, Facebook, LinkedIn, Pinterest, and other sites, never go overboard with sharing. To connect with and conduct research on potential victims, criminals often set up bogus accounts. Therefore, take advantage of security features, be wary of who you connect with, and avoid providing information that can be seen by public viewers.
  1. URL Logon – For any website that you want to shop on, be sure the URL is secure. Instead of visiting sites with just http://, make sure the domain begins with https://. That “S” is critical to protecting your financial information. What happens is that websites without the “S” in the URL can mirror a legitimate credit card processor, so when you make a purchase through one of these sites, criminals have the ability to take whatever information they want.

Professional Services

One of the best ways to protect your financial information is by getting professional assistance from Chosen Payments. With years of experience, we offer a wide range of applications and services that provide you with a solid layer of protection. With our help, you and your customers can go online without being at a constant risk for having financial information stolen.

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