Your Online Payments Are At Risk

Online retailers are now allowing more than credit and debit card payments. A newer way of paying, called BACS and CHAPS is starting to become more common. Both of these types of payments come straight from your bank account to the retailer, which can lead to some glaring vulnerabilities. More and more hacks are happening due to the fact that sensitive information is exchanged in these transactions.

But how are these hacking attacks happening? One way is by sending you a phony BACS transfer by using a fake name. Emails, once again, are used to hook people. A line of defense for your phone (cause let’s be honest, phishing emails appear there too) is to use a layer of protection like dfndr security to avoid falling prey to hack attacks. It comes equipped with a powerful Anti-Hacking feature that detects suspicious links within emails.

Here’s what you should know about the growing wave of online hacks and other ways you can protect yourself.

Read More: Where Do Most Phishing Attacks Occur and Why?

Common Issues With Online Payments
The problem with BACS and CHAPS payments is that accidentally sending the wrong amount can lead to a world of trouble when trying to get the money back. Also, don’t forget, hackers are always on the prowl to scam you. As we mentioned earlier, one method is that fake BACS transfer using a fake name.

These con artists send phishing emails that appear to be from legitimate companies to lure you into paying for a service or item that isn’t real. Sometimes, they contact you using email accounts that appear to be from a real company, but they’re actually from another domain name.

For example, a legitimate email from Wells Fargo would come from an email that ends on @wellsfargo.com, while a hacking scammer might create an email that includes part of the original company name but adds a few extra letters/word combinations, like this example: @wellsfargopayments.com.  

Make Sure the Email Really Matches
One victim received an email from a group of cybercriminals that claimed to be from PayPal, regarding a recent transaction. However, the email came from a Skype account, which should confirm that PayPal wasn’t contacting them.

Also, keep an eye out for notifications at the bottom of emails that alert you to scams. A legitimate company sometimes notifies customers that their bank account information will not change during the course of a transaction, and warns you against sending money to certain accounts that have been scamming users.

Don’t Fall Victim: Be Proactive
Even though you’ve heard this a million times, make sure you change your passwords regularly, at least every 90 days. Downloading a certified antivirus app will also help you deter phishing attacks and other scams. And if something seems off from an email, refrain from responding, and connect to the company by visiting their official website and obtaining real contact details.