Tips on how to spot online scams and protect your digital footprint


Users have to change their perception about cybercriminals as most people believe they won’t be targeted if they are not a prominent figure or wealthy. — 123rf

Each time consumers get connected online, they inevitably leave behind trails of information from whatever is viewed or created.

As the Internet makes it easy for this information to ‘travel,’ it is vital for consumers to safeguard their digital footprint.

About 60% to 70% of payment transactions are currently conducted online, following the Covid-19 pandemic and its resulting lockdowns.

Cashless payments methods – such as Touch ‘n Go eWallet, GrabPay and ShopeePay – have become popular and widely accepted in the last two years, due to their convenience, hygienic mode of transaction and value in terms of rewards.

From over six million users in 2019, Touch ‘n Go eWallet now has more than 18 million users; the merchant coverage has also increased with more than 1.2 million touch points, including DuitNow QR.

In terms of account verification, more than 13 million users have eKYC-ed (know your customer) and verified their Touch ‘n Go eWallet accounts.

In addition, data from the Shopee 9.9 Super Shopping Day indicated that ShopeePay was the preferred payment method for checking out.

Within the first two hours of September 9, orders using ShopeePay increased by nine times as compared to an average day in the previous year.

Why does this matter?

You may perhaps ask: Why does this matter to consumers?

Practising safe online habits and managing personal data can help consumers to be less susceptible to cybercrimes, such as fraud, which results in financial losses and personal data theft.

At TNG Digital Sdn Bhd, a dedicated safety and security portal or hub will be launched soon, said its CEO Alan Ni.

Meanwhile, for Grab, among its best-in-class security measures to ensure user safety include:

  • Two-factor authentication (2FA) with the Grab PIN and biometrics.
  • A 24/7 fraud detection engine and strong in-house fraud and security team.
  • Data protection measures compliant with the Payment Card Industry Data Security Standard (PCI DSS), which is the most stringent certification available within the payments industry.

Grab is a licensed e-money issuer in Malaysia, while GrabPay’s multi-layer security features will enable its users to perform real-time digital transactions on the platform securely, said Grab Malaysia.

Spotting potential scams

What’s more important, when it comes to maintaining online safety, is education, awareness and a healthy dose of caution. At the end of the day, consumers should learn how to spot signs of potential scams.

In that vein, ShopeePay collaborated with the Royal Malaysian Police to organise the ‘Celik Jenayah Siber’ forum this year to educate consumers on how to recognise and protect against online scams.

Shopee provides its users with regular in-app scam alerts, as well as updates on its social media channels on emerging risks. For example, the Shopee update on ‘Easy and High Income Jobs'? Red Flag.

Among possible scams online are phishing attempts, SMS/messages or emails saying that money is or will be credited to the user’s e-wallet account.

There may also be ‘friends’ requesting for the user’s phone number and e-wallet activation code, as well as companies or brands claiming that the user has won e-wallet credit or that e-wallet credit can be won by doing some surveys, contests and others.

Consumers should always be on the lookout for suspicious emails, texts or calls that ask for personal information; never respond to them – your accounts should always be accessible only to you.

“Consumers should not share any information with anyone, including those who claim they are e-wallet staff; Touch ‘n Go e-wallet staff will never ask consumers for their PIN, One Time Password (OTP) or others,’’ said Ni.

Touch n’ Go eWallet has been certified as Level 1 – which is the highest level – PCI DSS-compliant. This is a set of requirements designed to ensure the highest level of security for businesses, that store, transmit or process credit card data.

Touch ‘n Go e-Wallet is the only e-wallet that offers a money-back guarantee programme, which is an e-wallet feature that protects users from unauthorised transactions that are made on the e-wallet user’s account.

Shopee has a dedicated online scam microsite ‘Online Shopping Safety Tips 2022 I Scams To Avoid – Shopee Malaysia’, which lists down possible scams involving jobs, stealing of personal bank account details, sponsored posts, Shopee unofficial channels, direct payments, refund for overpaid orders, direct bank transfers, phishing websites, pop-up ads, parcels, fake seller centres and private messages.

Tips to avoid financial scams online

What’s more important, when it comes to maintaining online safety, is education, awareness and a healthy dose of caution.

At the end of the day, consumers should learn how to spot signs of potential scams. With the increase in financial scams, here are some tips to avoid falling prey:

  • Never share your OTP as it is your first line of defence against potential fraudsters. Financial service providers will never ask you to share your OTP or PIN with them.
  • Never share your password and make sure to store it in a secure and private place.
  • Never share your reset password link and always ensure that security questions for your account are strong and consistent.
  • Do not make financial transactions on open public networks.
  • Set strong and unique passwords for all accounts.
  • Download apps from verified sources and make sure that they are password protected.
  • Before clicking on a link you receive via SMS or email, double check to make sure it is legitimate. For example, check the spelling and URL details.

For Shopee, users can visit the In-App Account Security Centre on the mobile app.

This feature allows users to self-validate and mitigate any risk of account takeovers, thus helping to increase user confidence in the security of the Shopee mobile app.

Meanwhile, for peace of mind using Grab, consumers can look up on ‘how to secure your Grab app.’

Against the growing popularity of cashless transactions online, consumers must remain alert and be up-to-date with the latest means used by fraudsters and scammers.

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StarESG , online scams

   

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