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Risks Involved In Online Transaction

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Risks Involved In Online Transaction

India is now being developed in a cashless transaction country, yes it is so. We feel great whenever we do a cashless or online transaction, but yes there are risks involved. When we say that we are completely safe while using PayTM, PayPal or any other application while using the online money. No, we are not don’t forget about those Hackers and Crackers alive in this world. Yes, they exist. Here are some things that might risk your online money.

First Of All(Which Network?)

Open Network vs. Closed Network

We use two types of the network either Open or Closed. Now Closed networking is that when a person is directly trying to enter the Bank Company’s data processor. Generally, to enter the Banks Data Processer directly the Major or principal software made by the Bank is required, or else this access is not allowed.

Open Network is just the thing we all use like using the regular Company’s Website.

Closed Network just reduces the risk, but still, a risk is entirely possible. Whereas in the case of Open Network the risk exists as it is.

Risk: Phishing Or Falsification Of Page

Generally, this method is now not used because it’s not the best way to do it. Usually, security of your browser catches any fake link or the link which is malicious, and it shows it to you if it is fake or real. But still, you will be at risk if you are being redirected to your Banks Website or getting logged in. Through any third-party web page or any fraud email. Yet banks are trying their level best to improve the security and remove those scam page.

Must Read-How offer emails stole your data?

Risk: Malicious Code

You even don’t know that while you are browsing how many scripts are running over the connection between you and the internet. But there might be some malicious script also. The Internet works on javascript and CSS, we might not know that what more scripts are running and what code is being executed that results in unauthorized access to the system.

Must Read-Is Public WiFi Safe?

Risk: Database Hacking

All of your banking/personal information is stored in a Database by Banks over the internet. But what if that Database is hacked that might result in an exposure of your information. Yet banks keep maximum protection so that this is not done. But in previous years this has been a current situation. And is likely to happen again.

So that was it, and even many more risks are there over the internet it depends upon you how you can protect yourself by counter these problems.

Also Read- Top 5 Ways to Make Money Online

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