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Common Risks in Online Transactions

    In today’s digital era, online transactions have become a daily part of life, especially among young people. From shopping at virtual stores to using banking services through mobile apps, digital transactions offer convenience and speed. However, this increase in financial interactions online also brings certain risks that are important to recognize to avoid serious issues such as fraud, data loss, or identity theft.

    Below, we explore some of the most common risks associated with online transactions and how to protect yourself from them.

    1. Phishing

    Phishing is one of the most common cyberattacks. It involves attempting to obtain sensitive information like passwords, credit card numbers, or banking credentials by posing as a trusted entity, often through fake emails or text messages.

    How to avoid it:

    • Never click on suspicious links asking for personal information.
    • Always verify the sender’s authenticity before entering any data.
    • Use two-factor authentication for your most important accounts.
    1. Identity Theft

    Identity theft occurs when a cybercriminal obtains and uses someone’s personal information, such as their name, credit card number, or social security number, to make purchases or open accounts in their name. This type of fraud can have long-term consequences, affecting the victim’s credit score.

    How to avoid it:

    • Don’t share personal data on unsecured websites.
    • Regularly check your account statements for unusual activity.
    • Use strong, unique passwords for each account.
    1. Using Unsecured Public Wi-Fi Networks

    Conducting financial transactions on unsecured public Wi-Fi networks, like those found in cafes, airports, or shopping centers, can expose your data to cybercriminals. These networks are vulnerable to interception attacks, where an attacker can capture the information being transmitted, such as credit card numbers or passwords.

    How to avoid it:

    • Avoid making online transactions while connected to public Wi-Fi networks.
    • Use a Virtual Private Network (VPN) to encrypt your internet connection.
    • If a transaction is urgent, use your phone’s mobile data network instead of public Wi-Fi.
    1. Fraud on Online Shopping Platforms

    As more people shop online, the risk of falling victim to scams also increases. This includes purchasing products that never arrive, fake websites imitating legitimate stores, and extremely low prices that turn out to be scams. Some criminals also sell counterfeit or defective products with no possibility of a refund.

    How to avoid it:

    • Only shop on secure, well-known websites, ensuring the URL starts with “https://” and there’s a padlock icon in the address bar.
    • Read customer reviews before making a purchase from an unfamiliar store.
    • Be wary of deals that seem too good to be true.
    1. Malware and Viruses

    Malware is malicious software that can infect your device when you download files or programs from unsafe sources. Some malware is designed to steal your financial data, spy on your activities, or lock your access to important information until you pay a ransom.

    How to avoid it:

    • Install and regularly update a good antivirus program on your devices.
    • Avoid downloading files or apps from untrustworthy sources.
    • Don’t open attachments from unknown email senders.
    1. Credit or Debit Card Theft

    Theft of credit or debit cards, either physically or digitally, remains a significant risk. In the digital world, criminals can obtain card information through insecure websites or hacking techniques, and use it to make unauthorized transactions.

    How to avoid it:

    • Use virtual cards or prepaid debit cards for online purchases.
    • Activate automatic notifications for every transaction made with your card.
    • Immediately block your card if you suspect it has been compromised.
    1. Fake Financial Apps or Platforms

    With the rise of financial apps, many people have fallen victim to fake platforms promising attractive financial services. Some fraudulent apps appear legitimate but are designed to gather sensitive data or directly steal money from users’ bank accounts.

    How to avoid it:

    • Only download apps from official stores (Google Play, App Store).
    • Check the app’s reputation and reviews before installing it.
    • Verify the permissions requested by the app; if it asks for too many, it could be suspicious.

    Conclusion

    The digitalization of financial services brings numerous benefits, but it also presents significant risks that we must be aware of and avoid. Financial education and cybersecurity are key to protecting our finances online. By adopting safe practices—such as avoiding public Wi-Fi, creating strong passwords, and using only trusted platforms—young people can carry out online transactions more safely and avoid the most common risks.

    Being aware of these threats and knowing how to defend yourself is crucial nowadays, especially for young people who increasingly rely on digital transactions. The key is to stay informed, take precautions, and act carefully when managing money in the digital environment.