Using the same password in multiple online accounts can compromise your security, especially when these accounts are linked to your banking and credit card information. ABC News recently reported of a woman from Townsville, Queensland whose credit card details must have been stolen and sold on the black market resulting in multiple charges to her banking accounts all over the world including, Texas, Vancouver and London. Referred to as the Card-Not-Present (CNP) Trade, or having multiple transactions without needing the physical card to be present, the AusPayNet Chief Executive, Andrew White states that there’s an increase in online fraud after developments in security measures by banks and ATMs have made it harder for bank theft.
Hacking, skimming or phishing are some of the greatest threats in online security, especially since there’s no definite way on how to track and what to sanction the people that commit these crimes. From legitimate anti-virus security programs that you install in computers and mobiles phones to opting for two-factor authentication or changing your passwords regularly, there are simple ways on how we can help strengthen or add a layer to the security of our online details.
To prevent fraudulent online transactions, it is necessary to take precautionary measures and secure your accounts. Be vigilant and occasionally check your online details, especially when you see unusual activity in your network such as singing in from a location across the world that you haven’t been to.
Here are some friendly reminders to prevent online identity theft, especially concerning banking details and credit card information: