Keep safe when taking out an online loan

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Many people are worried about using the internet, particularly when it comes down to matters of personal finance. Cybercrime is indeed a problem that exists on a global basis, and according to a report on the rekordeast.co.za website, South Africa has the third highest cybercrime victim rate in the world. It is estimated to amount to R2.2-billion per annum.

Most of this money is lost by the business sector rather than the private sector, but cybercrime is a serious consideration for the individual South African too. However, it mustn’t be looked at out of perspective.

The sophisticated software that cybercriminals have developed is aimed at business rather than the individual. Cybercrime in the private sector is still relatively basic and is the domain of small-time crooks who use methods such as phishing scams to ensnare their prey.

Staying safe online

In terms of personal safety online, there are two important factors. The first is to ensure that your computer or laptop runs a good firewall. These are usually built in before the point of sale, so when you buy a new device, it should already be installed.

The second important consideration is being internet savvy. This is particularly important if you use a mobile phone to connect to the web. Why? It’s because mobiles don’t routinely have firewalls built into them. It means that if you connect to a public hotspot, others will be able to see what you are doing.

The safest way of browsing the web via your mobile, especially if you are doing something that involves your personal finances, is to only connect through a trusted router, such as one at work.

Being internet savvy

The other thing that being internet savvy means is only using trusted websites. Look for a small padlock icon in the address bar just before the website address. Also, the address should be preceded by the letters HTTP plus://.

Let’s say that you’re looking for a loan. You will probably find that an online loan offers many advantages over a conventional loan. First of all, don’t connect via a public hotspot unless you know it is a safe one. (You can always ask the proprietor). Secondly, look for the padlock icon and that the website address begins HTTP. But don’t stop there.

You should also check out the website’s security ethic, and you can do this by going down to the foot of the landing page and clicking on their privacy policy. You’re looking for things like their use of SSL (Secure Socket Layer encryption technology), and that they operate with a firewall.

If you follow these guidelines, whether you are researching online loans or anything else that involves personal finance or personal data, you will be good to go.

Help to eliminate cybercrime

If you spot something you believe to be suspicious, be it a phishing email or a dodgy website, you should report it to the ISPA (the Internet Service Providers’ Association. The more alert you are, the safer you will be online, and by reporting anything that looks odd, you will be contributing to the fight toward eliminating cybercrime.

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