Defending Yourself From eWallet Fraud
Online fraud is a real, legitimate threat. More and more money is being stolen from consumers with each year, prompting shoppers worldwide to be more cautious when spending money online. Although most fraud occurs when credit card numbers are stolen, eWallets can often be targets as well. If a consumer stores money on an electronic wallet, it could be an easy target for hackers. However, eWallet fraud is meeting its match with advanced security tactics.
eWallets at an Unprecedented Risk
With the development and widespread use of eWallets, fraudulent activity has increased respectively. According to Emirates247, a joint study conducted by B2B International and Kaspersky Lab found that 43% of surveyed individuals experienced an attack that targeted financial information. Of those who lost money through online fraud, 43% were unable to get that money back.
eWallets are a particularly easy target given their simple security measures and online locations. Bitcoin eWallets are extremely easy targets, since digital currencies are largely untraceable. Thus, the importance of defending any type of eWallet from fraud is paramount.
Stopping eWallet Fraud Before it Starts
Most cybercrimes—such as credit card fraud and eWallet fraud—will likely never go away. This is why it’s important to take the necessary steps to stop fraud before it happens. For eWallets, this can be easy.
Start by finding a wallet service that is secure. Your eWallet should feature 128-bit encryption codes, and should absolutely be password-protected. Whichever service you choose should also have basic security features on their website, such as SSL certificates.
The convenience of maintaining an eWallet can be the perfect shadow for hackers to commit fraud. Remember to check your eWallet balances regularly, and compare those numbers with your bank accounts. Any irregularities should be reported immediately. Remember, if you’re being targeted for fraud, there are likely thousands, maybe millions of other consumers being targeted as well.
Among our range of merchant services, our eWallet is an incredibly convenient way to send or receive money. Our eWallet solution is tested and proven, and will keep your money secure while online. The personal eWallet from Instabill is a great solution for anyone looking to conduct online transactions. Additionally, if you’re looking for an eWallet for business use, the Instabill eWallet can be a great complement to one of our merchant accounts.
To learn more about the eWallet or any one of our particular services, contact a live representative today.