What are the Identity Thefts Associated with Online Shopping ?

source: businesstoday

Online shopping has boomed over the last few years, and convenience is the backbone of it. Online shopping is the first choice for many as it provides you with the facility of shopping in the comfort of your home, paying through your preferred choice of payment and also receiving the products at your doorstep.

However, with this, the chances of online shopping fraud have increased, and you can fall prey to it. Continue reading to know more about it and ways to save yourself from it.

Identity theft is one of the most frequent dangers associated with internet shopping. Criminals can steal your personal information, and then they can exploit it to make transactions for their own benefit. They keep a tight eye on internet buyers' behaviour in order to steal their personal data.

There are numerous ways for identity thieves to get your personal information, including overhearing your credit card number on a call, purchasing your information on the dark web after a data breach, and other methods. The next step in the identity theft process is using that data.

Here are a few scenarios of what these identity thieves might do with your private data.

• They can utilise your identifying information to apply for new credit cards or open other lines of credit.
• Use your current debit and credit cards to make illicit purchases.
• They can submit a tax return using your Social Security number to claim your refund.
• To obtain medical care, they can use your health insurance.
• Using your identification and financial situation, they can rent an apartment or pass a background check for a job.

1. Credit Identity Theft

Cybercriminals send emails or SMS that appear to be authentic. These texts or emails may contain links that can be used to download malware or dangerous software. The programme might be able to mine your computer for private data and transmit it to a distant machine. Cybercriminals can use these details to steal identities or sell them on the dark web.

2. Skimming

Skimming or ATM card skimming is the method that thieves use to replace card readers with a fake device at cash registers or other point-of-sale systems, like the ones at grocery stores, gas stations, ATMs, or coffee shops.

This gadget collects information from credit and debit cards' magnetic stripes and sends it to the skimmer. Occasionally, they can also place a tiny camera to record data like ATM PINs and ZIP codes.

Criminals may be able to conduct fraudulent transactions or withdraw money from ATMs using the account holder’s information, such as debit card or credit card numbers, ZIP codes, names, or ATM PINs.

3. Wi-Fi Hacking

Several public Wi-Fi connections are not encrypted. Criminals may be able to spy on data moving from and to your device as a result of this. Cybercriminals may also be able to put malware into your device to let them access your data if it has software flaws.

Cybercriminals occasionally build fake Wi-Fi hotspots with names that resemble genuine networks. Information across the malicious network can be visible and useful to identity thieves.

4. Malware

Different techniques are utilised by criminals to install malware on a victim's device. The use of malware could provide criminal access to the device and the data it contains. Viruses, trojans, spyware, and keyloggers are all examples of malware.

5. Child ID Theft

Identity thieves can use the Aadhaar card number of students to open bank accounts, seek government aid, borrow money and more. It is possible that the victim of identity theft will not discover the theft until they apply for a loan or other forms of credit as an adult.

6. Synthetic Identity Theft

Synthetic identity theft occurs when criminals create a fictitious consumer using a patchwork of personal information, including an Aadhaar card number that has not yet been registered in the government database.

After that, when the credit limits increase, they apply for loans and credit cards and frequently make payments for years.

7. Medical Identity Theft

Medical identity theft is the act of using another person's identity to obtain medical services. It can lead to medical histories getting mixed, which could provide doctors and hospitals with inaccurate information when making healthcare decisions.

8. Tax ID Theft

It is known as tax-related identity theft when someone files a tax return to claim your tax refund using your personal information, like your Social Security number. Before attempting to file your tax return, you might not know. The IRS will let you know if a tax return has already been filed in your name.

If you are wondering how to avoid identity theft when shopping online, here are a few things to keep in mind.

• Always Protect Your Digital Devices: Whether you use the Internet via a desktop computer, smartphone, tablet, or other devices, make sure to install anti-malware. This will aid in defending you from various internet security risks.
• Be Careful While Using Online Wireless Networks: Ensure that whenever you access any private Wi-Fi network, it requires a strong password. If you must use a public network, you might wish to utilise a virtual private network (VPN) connection to access the web because it delivers data securely over the Internet.
• Prefer Using Mobile Apps: Using the apps of reliable retailers may make your mobile phone purchasing experience safer. This is due to the fact that hackers are less likely to concentrate their efforts on certain apps.
• Use Verified Websites: When it comes to security, shop at reputable websites with a solid track record. If you're unsure, research these websites, but remember that not all reviewers may be trustworthy. In general, popular e-commerce websites are more likely to be trustworthy.
• Ensure That the Site is Secure: Use Secure Sockets Layer (SSL)-encrypted buying websites. Look at the URL to determine whether this is enabled; it should start with "https://" rather than "http://," and a lock icon is usually present. The location of the lock depends on your browser.
• Use Separate and Strong Passwords: Don't use the same passwords across many online stores. Make sure to choose a strong password to reduce the likelihood that it will be cracked by someone else.
• Do Not Save Payment Settings on the Website: Try not to save your payment details on shopping websites, no matter how secure they look. These details can be accessible to fraudsters if the website is not secure enough.
• Do Not Share Unrequired Personal Data: Some internet merchants might inquire about your birthday in order to better cater their services to you or even to provide you with birthday discounts. But if hackers get their hands on this information, they'll have intimate details about you that they might use to pose as you online.
• Beware of Phishing Emails: Fraudsters that seek access to your personal data send phishing emails. These emails can appear to be from respectable merchants.
• Do Not Share Unnecessary Data on Social Media: It could be tempting to provide personal information with your pals online, such as your birthday or address. However, it's possible that other people can see this information as well, depending on your privacy settings. Ask yourself if it would be wise to keep the information secret before putting it on social media.
• Launch a Complaint: According to NCH (National Consumer Helpline), if you face online shopping fraud, you should file a complaint online. To register your online shopping fraud complaint, you should lodge an FIR (First Information Report) or a police complaint or to a Cyber cell. You can call them, SMS them or visit a police station directly.

When you shop online, you stand the risk of becoming a victim of identity theft or online shopping fraud. To ensure that you may make purchases safely and securely, it is crucial to take the necessary precautions to protect your identity-related information.