Online shopping offers convenience, variety, and sometimes even better prices than traditional brick-and-mortar stores, with global retail eCommerce sales expected to reach $8.15 trillion by 2026. However, this growth has also led to a rise in cybercrimes such as phishing scams, mobile spam calls, and credit card data theft. In fact, 54% of consumers have encountered suspicious online activities, with 21% concerned about credit card theft.
While online shopping is generally safe, but cybercriminals use tactics like social engineering to steal personal information, leading to financial loss. North America’s online payment fraud rate is 42%. Protect yourself by using secure websites, avoiding suspicious emails, and connecting to encrypted Wi-Fi. Staying vigilant ensures a safer shopping experience.
Online Shopping Risks
1. Identity Theft and Fraudulent Transactions
2. Fake Online Stores
3. Data Privacy Concerns
4. Unsecured Wi-Fi
5. Phishing and Fake Reviews
6. Unencrypted Data
Tips for Staying Safe While Shopping Online
1. Shop from Reputable Websites
One of the best ways to protect yourself when shopping online is to buy from trusted, well-known brands. Look for signs of legitimacy, positive customer reviews and secure payment options. Be wary of unfamiliar websites offering products at unreasonably low prices, as they could be fraudulent. Check for “HTTPS” and a padlock icon in the URL, which indicates encryption for data protection. If these signs are missing, refrain from entering sensitive information.
2. Be Cautious or
Avoid Using Public Wi-Fi
While public Wi-Fi is safe for basic browsing, avoid using it for sensitive tasks like online payments or banking. Cybercriminals can hack into these networks to monitor activities and steal your login credentials. It’s safer to use a mobile connection for such transactions.
3. Use a Secure VPN
A Virtual Private Network (VPN) encrypts your online activities, protecting your data from hackers on public Wi-Fi. It also masks your IP address, making it harder for cybercriminals to track you. Always use a VPN when accessing sensitive information on public networks.
4. Use Strong Passwords and Enable Two-Factor Authentication
To minimise the chances of your account being compromised, use strong, unique passwords for each of your online shopping accounts. Additionally, many online retailers offer two-factor authentication (2FA), which adds an extra layer of security by requiring a second form of verification, such as a code sent to your phone, before granting access to your account.
5. Use Credit Cards, Not Debit Cards
Credit cards are safer than debit cards for online transactions because they aren’t directly linked to your bank account. If fraud occurs, credit card companies provide faster dispute resolution and financial protection.
6. Monitor Your Credit Card Statements
After making an online purchase, regularly check your credit card and bank statements for any unauthorised transactions. If you notice any suspicious activity, report it immediately to your bank or card issuer. Many credit card companies offer fraud protection, which can help minimise losses in the event of a scam.
7. Check Reviews and Seller Ratings
Before making a purchase, take the time to read customer reviews and ratings of the product and seller. However, be mindful of fake reviews, which can manipulate your decision. Look for reviews from verified purchasers, and if possible, cross-reference them on third-party review sites to get a more accurate picture of the product’s quality and the seller’s reliability.
Conclusion
Shopping online can be a convenient and enjoyable experience when you take the necessary precautions to safeguard your personal and financial information. Using secure websites, opting for credit cards or trusted payment gateways and regularly monitoring your bank statements are key steps in reducing the risk of fraud or unauthorised access. By following these best practices, you can ensure that your online shopping is both safe and stress-free.
(The author, Shibu Paul, is the Vice President – International Sales at Array Networks)
