Do you also save banking details on websites or mobile apps? If Yes, this survey is an eye opener

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Is online banking safe? In the era of internet and banking facility on fingertips, people are usually engaged in online banking like online shopping, food order, bill payments and many more. The increase in online transactions has also led to a rise in fraud cases related to net banking. According to a survey, Nearly 68 per cent consumers making financial transactions online are willing to save their personal bank details on websites they trust, while more than 8 in 10 (83%) think that financial fraud and data theft are the biggest threat to online banking.

According to an online survey by NortonLifeLock Inc, that covered over 1,500 city-dwelling Indian adults reveals that consumers attracted to online transactions are mainly due to convenience and time-saving.

Consumers make the maximum online financial transactions for shopping (91%) closely followed by bill payments (88%). City-based millennials engage in more financial transactions online (98%) than any other generation surveyed, closely followed by Gen X (97%) and Gen Z (94%), survey reveals.

NortonLifeLock, India, said, “It is impressive to see that consumers in India are embracing the world of digital and choosing to access the internet for various routine activities such as paying bills, transferring money, booking tickets and more.”

“However, it is more important than ever for consumers to be aware of potential risks and to stay vigilant while making transactions online. Cybercriminals are looking to take advantage of consumers who may be less security-minded and distracted by the excitement of shopping online sales,” he added.

Online transactions safety tips:

Customers should use strong passwords and should never reuse passwords across websites and apps. Password should be complex with a random word that includes a combination of at least 10 letters, numbers, and symbols. Using a password manager to generate complex, unguessable passwords can also help.

One must keep their software updated as cybercriminals frequently use known exploits, or flaws, in your software to gain access to your system. Patching those exploits and flaws can help make it less likely that you’ll become a cybercrime target.