7 Practical Tips for Avoiding Scams and Protecting Your Finances When Shopping Online

Online shopping has truly transformed the way modern consumers buy goods and services, as it offers unparalleled ease and access to products from around the world. Whether you’re ordering essentials or indulging in luxury items, it’s now possible to have your purchase delivered to your door with just a click of a button.

However, this convenience also comes with certain risks attached. As the world of online shopping grows, so do the threats posed by cybercriminals, who continuously find new ways to exploit unsuspecting shoppers.

Ultimately, constant vigilance is the best way to ensure that you stay protected from cyber threats and enjoy your online shopping experiences to the fullest. Cybersecurity awareness should be a priority for anyone who makes online purchases—the better you understand the fundamentals of online safety, the better your chances of spotting potential threats before they compromise your financial well-being on the whole.

Here are some useful tips for steering clear of scams and shopping online safely:

1) Shop with a Credit Card

Not all digital payment methods are created equal when it comes to security. Credit cards are generally considered safest for online shopping due to the stringent fraud protection measures that come with them.

Many credit cards come with built-in features like purchase monitoring, fraud alerts, and zero-liability policies, which protect you in case your card information is compromised. Some issuers also offer virtual card numbers, which can be used for online transactions and are designed to expire after a single use, making them much harder for scammers to exploit.

If you’re currently located in the Philippines, consider shopping with Maya’s Landers Cashback Everywhere Credit Card for the most secure online credit card transactions you could possibly ask for. Maya Bank, Inc. is licensed by the Bangko Sentral ng Pilipinas (BSP) and is thus fully compliant with all current regulations pertaining to cybersecurity. To protect your credit card details, Maya also issues a digital CVV that is valid for 24 hours only.

2) Buy from Reputable Websites Only

The world of e-commerce is a vast one, but not all sellers can be trusted. Whenever you shop with unfamiliar retailers, you risk entering personal and payment information on unsecured or fraudulent websites.

Instead of diving in immediately, take a moment to verify the credibility of the store. Look for telltale signs like secure site indicators (the “https://” in the web address) and a padlock symbol in the browser bar. A quick search for customer reviews can also reveal whether a website is trustworthy or if others have had bad experiences, which can save you from potential scams.

3) Avoid Suspicious Links or Pop-Ups

Online scammers often use phishing tactics to lure victims into clicking malicious links or pop-up ads. These scams are designed to either steal your personal information or redirect you to fraudulent websites.

Even if an offer seems too good to pass up, be cautious about unexpected pop-ups or unsolicited messages. Instead of clicking on links from unfamiliar sources, it’s safer to go directly to the website by typing the URL into your browser. Bypassing risky links greatly reduces your risk of falling into a scammer’s trap.

4) Check Your Bank and Card Statements Regularly

No matter how cautious you are when shopping online, it’s still possible for unauthorized charges to slip through. Stay on top of your bank and credit card statements and you should have an easier time catching fraud before it gets out of hand.

Regularly reviewing your statements, instead of simply looking them over at the end of the month, gives you the opportunity to identify unfamiliar transactions early and take immediate action. Many financial institutions also offer real-time alerts, which notify you of any suspicious activity on your accounts.

5) Don’t Shop on Public Wi-Fi

Public Wi-Fi networks, like those in coffee shops or airports, are usually unsecured and thus prime targets for cybercriminals looking to intercept sensitive data, including credit card numbers and login credentials. Avoid using these networks for anything more than casual browsing so you don’t inadvertently expose your information to bad actors.

If you need to make a purchase while on the go, it’s much safer to use a mobile data connection or wait until you’re connected to a secure, private network. Alternatively, using a virtual private network (VPN) can help encrypt your data and protect it from prying eyes on public Wi-Fi.

6) Avoid Deals That Seem Too Good to Be True

Scammers will frequently bait potential victims by offering deals that seem unbelievably low. While a massive discount on a popular item may be tempting, it’s important to remember that if something feels too good to be true, it probably is.

Before falling for a price that seems out of line with market value, take a moment to verify the seller’s legitimacy by checking reviews or looking into the website’s reputation.

7) Use Secure Payment Platforms

Reputable payment platforms act as intermediaries between you and the seller, thereby providing an additional layer of security when you shop online. These services help shield your sensitive payment information and often offer buyer protection, which can be invaluable if you end up dealing with a fraudulent transaction.

Make sure you transact only on platforms you recognize. Avoid unconventional payment methods like wire transfers or gift cards, as these are often non-reversible and a favorite among scammers.

It’s hard to argue with the many conveniences online shopping offers, but don’t fall prey to scams in your desire for a quick buy or a sweet-looking deal. Stay cautious and take proactive steps to maintain your safety whenever you’re shopping in digital spaces.