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There has been a massive increase in online shopping since the start of 2020 and it is important that consumers do their best to understand the potential security risks associated with eCommerce, and how to navigate around them. Today, we discuss some of the best practices that consumers can follow when shopping online.
Online transactional spending is at an all-time high. If you consider that before the COVID-19 pandemic hit last March that the global e-commerce market was already sitting around $9 trillion and growing at a rate of a little less than 15 percent per year, it would be fair to say that it is a major part of the world economy. The pandemic has moved a lot of brick-and-mortar retailers to depend on e-commerce revenue, making it even more essential to the well-being of the world economy.
With this remarkable growth comes opportunists who try to make a living by stealing money moving from place to place, whether through scams, hacking, or simple social engineering. This is why it is important for the general consumer to understand what practices to prioritize to keep their personal and financial information—not to mention their money—from falling into the wrong hands.
There is no easier way to get the things that you want than to shop online. Today, you can order anything and have it delivered in mere days. In some places, services can have your goods to you the same day you ordered them. This astonishing tool for commerce comes with risk, however. There are people out there who see people shopping online as a way to swindle would-be consumers. Some will misrepresent items, some will run scams, and others will use your willingness to trust the eCommerce markets as a way to infiltrate your online life, steal your identity, and ultimately, your money.
The good news is that most online retailers are reputable, and you won’t deal with many scams, but you never know when one will pop up. Protecting yourself, then, becomes extremely important. Here are four safety precautions you should take to keep from being a victim of online theft:
The Internet is a great tool for consumers, especially in uncertain times. It is important, however, that you take the time to understand the risks you face and do your best to mitigate them. If you are looking for more great information about technology, business, and keeping yourself secure online, enjoy our monthly newsletter and continue reading our blogs.
Troy is a life-long entrepreneur who is passionate about helping business owners solve complex business problems with technology. He enjoys sharing knowledge to help other businesses succeed.
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