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Are you aware of the security tips when transferring money online?

Today’s technology has progressed to a level, which allows you to transfer funds from one account another in a matter of a few hours. All that is required is a mere clock of a button and funds can be easily transferred from one country to another. However, there are plenty of risks involved when it comes to online money transfer. Through these risks, either your funds can be compromised or even details of your account can be compromised. However, with these few security tips, you can easily reduce the risks involved in transferring money, thus ensuring an easy online transfer.

Opt for a secure desktop over a public one:

When you make an online money transfer, you will need to use a digital platform to do so. This platform can be either in the form of a computer, laptop or even your phone. But unlike a private platform, the public platform may not have its security features that are up to mark. At times, public platforms may have malicious software or tracking devices installed without your knowledge. When you access your account or make a transaction, this software or tracking device can collect all the relevant data such as passwords, account details and user id, which can be transmitted to another remote location without your knowledge. This data can then be used to access your account or restrict your access to it.

Additionally, this information can also be used to create a replicate account for the purpose of stealing data.

Avoid unreliable third party websites:

In order to make an online money transfer, you will be required to log onto an online portal in order to log into your account. When logging into the website, you will need to use the complete website URL to login. Otherwise, you might log into a similar website with false details. These websites, in particular, are malicious, using techniques of spamming and phishing to collect account details. This account detail is then either publicly published, or can be used to create a fake account in your identity. In this way, your account will get compromised.

Avoid public internet networks

When you log onto the website, an internet connection is required. Plenty of public places such as cafés, restaurants and other similar outlets offer free Wi – FI. These networks may offer a free internet connect, but they do not offer the same security features that you can find on a private internet connection. Plenty of individuals can easily access your account or data and manipulate a transaction to deposit it in another account. All it requires is a combination of software and profession skill to make this illegal transfer from occurring.
Transferring your funds online will save you a lot of your resources and time. However, it is important to keep the security in mind when dealing with such important financial transfers. Any decision you make can lead to loss of your funds or compromise on your account.

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