Pinakin Dave
As consumers become more dependent on online shopping, fraudsters are coming up with new ways of tricking people into giving away their personal information and money. But that does not mean that people stop transacting online. There are ways to beat these fraudsters and remain safe while transacting online.
Here are some points that individuals must keep in mind while doing online transactions
Biometrics and password-less login
Passwords are hard to remember and are easily prone to hacking. Rather than changing passwords from time to time, take advantage of biometrics and e-signatures. This is something that falls on banks to ensure that they provide real-time protection to their customers and provide password-less authentication. These types of transactions prioritise security and reliability and eliminates the possibility of fraud to a great extent.
Adaptive multi-factor authentication
One can never be too cautious as cyber fraudsters employ and update their methods to defraud customers. To be safe, banks need to provide adaptive multi-factor authentication or risk-based authentication to their customers. This adds an extra layer of security to your transaction. So while a single password can be easily compromised, the hacker would still need to go through additional levels of authentication which makes your account even safer. Nowadays most banks offer adaptive multi-factor authentication to their customers which will add an extra level of…
