Protect Your Money When Shopping Online
App-based approval can help avoid scams – Protect your money when shopping online
Learn about app-based approval – meaning, when you make an online purchase your bank app will send you a notification asking you to verify the amount and vendor name.
Using a bank app can help keep your money safe from scammers.
Shopping online is an easy way to shop – however you must look out for fake websites that look like trusted websites and pretend to sell well-known brands.
Scammers impersonate famous people and make fake content to make it look like they recommend products or services.
Banks can help protect you through App-Based Approval (also known as Out-of-Band Authentication) – yes the name sounds technical, but don’t worry, it’s simply a safer way to confirm your online purchases.
If you visit a fake website and make a purchase you are not only giving your card details (which scammers can use), personal details, name, address, age… Online shopping scams are becoming more and more sophisticated – so be careful about the websites you visit.
WHAT HAPPENS WHEN YOU BUY SOMETHING ONLINE?
When you buy something online with your bank card, your bank wants to ensure it’s actually you using the card – and not a scammer. In the past, banks would send you a text with a special code. You’d then type that code in to finish your purchase.
Now, scammers have found ways to trick people into giving away these codes – and why banks are now using: Out-of-Band Authentication.
Out-of-Band Authentication – is simply your bank sending a confirmation of purchase message to the bank app on your phone or computer.
Out-of-Band Authentication works by the bank sending a message to its official app on your phone or tablet. You then open the app, check the details of purchase are correct, and tap a button to approve the [purchase. You may also be able to use your face, fingerprint or a PIN to confirm your purchase.
So, Out-of-Band Authentication is a banks way of ensuring you are making the purchase.
HERE IS AN EXAMPLE:
You’re buying a Christmas gift online. After you enter your card details, your bank sends a message to its app. You open the app, see ‘$100 at Santa’s Shop’ and tap ‘Approve’. You purchase safely.
If the message says ‘$550 at Unknown Store’ – you will know something’s wrong and tap ‘Reject’. If you reject a payment, contact your bank immediately to secure your accounts.
Why everybody including seniors should use Out-of-Band Authentication
Sadly, seniors are often targeted by scammers as some may not be tech-savvy, however if you use Out-of-Band Authentication, it makes it harder for scammers to steal your money.
Here’s why Out-of-Band Authentication is great for older adults:
Simply tap to approve or reject a purchase.
You can verify the shop name and amount before you approve.
There are no codes to share or texts to worry about – keeping you safe.
WATCH OUT FOR PHISHING SCAMS
Scammers pretend to be from your bank via a text message, email, or phone call saying:
‘There is a problem with your account. Confirm this code to stop a suspicious transaction.’
What the scammer is trying to do is trick you into approving a payment you didn’t make. The scammer may already have your card details and just need you to confirm the transaction – using a code or app approval.
Phishing scams are when scammers impersonate trusted organisations to steal your money.
HOW TO STAY SAFE
Do not approve a payment you didn’t make.
Never share codes or tap ‘Approve’ unless you are 100% certain it’s a real transaction.
When unsure, open your bank’s app directly or call the bank using the number on your card.
With Out-of-Band Authentication, you’ll see the shop name and amount inside your bank’s app before you approve – giving you one chance to stop, double-check, and reject a scam.
HELPFUL TIPS
Download your bank’s app as this is the key to using features like Out-of-Band. Only download the official app from the App Store or Google Play.
Turn on notifications so you get alerts when you shop.
Use fingerprint or PIN – as these are safer than passwords.
Check before you Checkout – always read the shop name and amount.
Remember: Stop, Check, Reject
Be cautious and stop should something not look right.
Doubler-check the details of every transaction.
Reject offers that pressure you to act quickly or share your information.
If unsure – Stop!
If ever in doubt get in touch with Kieran or Corey at InfinIT Computers to help ensure you are safe and secure.
In Store or On Site Support
InfinIT Computers offer a full safety and security service either in store or on site.
Avoid Scams – Workshops and Tutorials
Kieran and Corey are available to host digital security and safety workshops and provide tutorials for individuals, groups and businesses.
To find out more call (07) 4192 7171 or email info@infinitcomputers.com.au
Or, drop by the shop and say hello: InfinIT Computers – Shop 6/5 Torquay Road, Pialba, Queensland, 4655