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Stay Safe When Online Shopping

When shopping online, make sure the only “steals” you experience are great prices. 

Even before the outbreak of the coronavirus, shopping online had become the norm for millions of people. From avoiding crowds to being able to access a wider range of products, it’s not difficult to see the benefits or understand its appeal.   

But online shopping is not entirely without risks, particularly as it involves entrusting websites and applications with sensitive financial information. Still, there are many ways to protect yourself when shopping online. Implement the following tips to reduce risk and keep your shopping fun and worry-free. 

Safe Sites and Due Diligence 

One great way to reduce your risk is to restrict your shopping to sites you absolutely know are safe. Bookmark these sites for future use. If you think you may be on an imposter site, verify that the domain is correct, scrutinizing it down to whether any letters have been maliciously replaced with a number. If you do decide to branch out, conduct research into a site’s reputation, and look for keywords that are glaringly negative like “fraud,” “scam, “fake,” etc. 

Create Thoughtful Passwords

On any e-commerce site you frequent, use a unique password. A strong password typically includes a combination of letters, numbers, and special characters. Avoid common personal information like your birthday, your name, or your address. If you struggle with remembering multiple passwords, consider employing a password manager. 

Third-Party Scammers 

It can be tempting to give large, well-known e-commerce sites your complete trust; but don’t let your guard down! Large online stores frequently include third-party sellers who may have less than noble intentions. Before handing over any of your personal or financial information, take a close look at the seller’s reputation, including reading any comments or reviews that are available. It is also always a good idea to review the store’s policies regarding third-party sellers and be wary of any sellers who are new to the site or who are listing their products at an exceptionally low price. 

Online Payments 

Keep a close watch on both your personal and professional credit cards for any suspicious-looking charges. It’s prudent to also set up alerts for any charges that are out of the ordinary or that do not match your usual spending patterns and habits. 

When shopping online for personal items and especially when conducting your business shopping, do not use a debit card. Debit cards take money directly from your bank account, and if you are unlucky enough to become a victim of fraud, you will have a much more difficult time getting it back. If you are hard at work trying to build your independent agency, having a business credit card can also have numerous advantages. It is far easier to keep track of your business expenses with a company card, and many providers will even send you a monthly expense report that you can keep for your files. A business credit card often offers an additional level of protection than a normal consumer card. Some examples of extra protection include travel accident coverage, identity theft coverage and other various misuse policies.

Conclusion

 Whether you shop online for personal reasons or business needs, everyone can benefit from being mindful of the potential risks involved when conducting online financial transactions. Scammers are plentiful, and there is no way to guarantee that your purchases will always be secure. But by being aware of the dangers and implementing a few easy security precautions, you can reduce your risk of becoming a victim and continue leveraging the power and convenience of the online marketplace. 

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This blog contains general information only, not intended to be relied upon as, nor a substitute for, specific professional advice. We accept no responsibility for loss occasioned to any purpose acting on or refraining from action as a result of any material on this blog.

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