As we approach peak-shopping season, TotallyMoney provides top tips for staying cyber safe:
- National Cyber Security Centre (NCSC) and Action Fraud revealed that Brits reported losing over £11.5 million to online criminals between November 2023 and January 2024 – with each victim losing an average of £695
Over the next couple of months, millions of people will be looking to pick up a Black Friday bargain, a Christmas gift for a loved one, or a January sales steal. But as online shopping soars, so will the number of fraudsters looking to make the most out of people willing to hand over their personal details.
To help customers shop safely, and avoid being the victim of fraud, personal finance expert, and TotallyMoney CEO, Alastair Douglas shares six top tips to staying safe.
Six fraud prevention tips from Alastair Douglas
- “Setting up two-factor authentication can provide you with extra protection against cyber criminals, because more details confirming it’s you can make it more difficult for them. You should also avoid clicking on any links you don’t recognise — including those in text messages.”
- “Although it might seem like a pain, having complicated and different passwords for each account can make it much harder for fraudsters. If you struggle to remember what they are, then consider using a secure password manager to stay safe. You should also think about making your social media accounts private, and avoid posting personal details online.”
- “When making a big purchase, pay with a credit card. That’s because Under Section 75 of the Consumer Credit Act, both the credit card issuer and the seller are jointly responsible for the goods or services you buy. So if your Black Friday TV purchase turns out to be faulty, or the Cyber Monday laptop you bought doesn’t turn up, any eligible purchase which cost between £100 and £30,000 could be covered. But it doesn’t apply to debit card, cash, or buy now pay later purchases”
- “Keep an eye on your credit report to see if any hard searches have been made in your name. If you don’t recognise them, that could be a sign of somebody making a credit application in your name.”
- “Keep your apps up-to-date, including banking, social, and antivirus software. The latest versions should be more secure against the newest attacks, giving you the best protection against fraudsters.”
- “It might be hard to accept, but if it looks too good to be true, it probably is. So before clicking ‘buy’, make sure the website and seller are both legit, check the online reviews, and find out what else they’re selling to get a feel for the business. And then ask yourself if you’re happy to hand over your details.”
On staying safe, Alastair Douglas, adds:
“Making sure your personal information is secure is key. So never share any passwords, and keep your eyes peeled for credit applications being made under your name, and for bank transactions you don’t recognise. If you spot something which doesn’t look right then report it. The government body has an online fraud reporting tool, and a central helpline on 0300 123 2040.”
