Demonetization: Kaspersky urges customers to be more vigilant in Digital Transactions

Close on the heels of recent demonetization of the Rs. 500 and Rs. 1,000 notes, India is seeing a sudden spurt in digital transactions. As people face a shortage of notes, they prefer to go online with their transactions and payments - in this scenario, customers need to be more vigilant - says Karpersky Labs.

From everyday groceries to taxi fares, digital payments have gone up in every sector. While this is a step forward in moving the economy to the digital space, Kaspersky Lab, the world’s most trusted name in cyber security, is urging people to pay more attention while embracing digital transactions and be vigilant of online frauds.

While those who have been transacting online are fairly well-versed with the threats one can face while paying online, the first time users / new adaptors need to be educated on the risks they are exposed to.

According to Altaf Halde, Managing Director (South Asia), Kaspersky Lab, “In the last week, since the announcement of the demonetization, there has been a huge spurt in payments through the smartphone. While it is very convenient and frees one of the pressures to hold cash, it calls for precaution. One small slip-up can cause one a huge loss. While companies are bound by law to follow guidelines, fraudsters find their way through many security barricades. The only way to safeguard oneself, in such a scenario, is to be vigilant while paying and to keep the mobile protected with a security plan. With these two simple steps, people can ward off almost all financial theft risks. As the current adjustment period makes way for settlement, we are sure that more people, across economic strata, will find digital payments way more convenient and may make it their preferred mode of payment.”

An enormous number of transactions have been happening through the smartphone, and that brings with it a lot of risks. The main threats everyone face while transacting online are:
•Paying through unsecured portals
•Unverified downloading of apps and software, which hackers use to nab credit and debit card information
•Skimming: Credit and debit card information is copied, when it is inserted into a swiping machine while making a payment

While the risks are many, the good news is that basic precautions can easily help you to dodge a trap. While making payments online, follow some rules of the thumb:
•Check for the crucial ‘s’ in the ‘https’ on a portal that you are using
•Check and re-check the portal URL. Check every alphabet. Fraudsters are experts are creating a fake website that looks exactly like the original
•Don’t share your financial information with anyone, especially over messages
•Not sure of the app? Don’t use it! Spend a little time in reading about an app, going through its Terms & Conditions and talking to current users before you punch in your card details
•Get yourself a mobile security plan. You’d be surprised at how much it’ll protect you.
•Only download apps from official app store

Kaspersky’s mobile security plans cover most of the common threats one faces, such as:
•Mobile anti-malware
•Web protection
•Call and SMS filtering
•Rooting and Jailbreaking protection
•Mobile anti-theft features

By simply being vigilant and getting yourself a mobile security plan, you can put all your fears to rest. Use this as an opportunity to go cashless with a majority of your transactions. It’s convenient, it’s easy and it is the future.