The Ideal Anatomy of an Online Shopping Card – Back End News


By Yeo Siang Tiong, Managing Director for Southeast Asia at Kaspersky

Like most of you, the continuing pandemic has affected my online shopping habits in more than one way. I’ve embraced the virtual way of shopping more, as have over 3 in 5 (64%) online users in South East Asia (SEA), as our research revealed last year.

I still love retail shopping, especially the experience of seeing new products and trying out a variety of gadgets. But of course health comes first so I have adapted and now do my shopping once a month. Here in Singapore, we get monthly promotions, depending on your bank and ecommerce platform, so I am exploiting the benefits of online stores by racking up the discounts per month.

However, this carries risks. For example, since the start of 2021, we have thwarted 708 incidents in six SEE countries, 50% of the total number of mobile bankers stranded in 2020, which was 1,408. We also monitored a 60% increase in number of attacks using malicious mobile bankers detected and blocked in the region.

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I have also seen these risks myself. This year again, I was in a hawking center buying lunch for my family when I received a text message with a link to track a package. A few days ago, I ordered a makeshift table for my telecommuting facility so I’m actually waiting for a delivery. Anyway, I clicked, and then boom. It was a phishing link. Fortunately, my phone has Kaspersky Internet Security installed, and as soon as I clicked on it, it went off and blocked the threat.

From this I learned that it’s easy to say don’t click nothing but add in the contexts of the frame – my mind was busy with another activity (buying lunch), in a noisy environment (hawking center) , and I’m waiting for a package (table) – and you’ll know that in the real world it’s easier said than done.

Apart from the importance of having a safety net – a safety solution that can catch your accidental slips – it is also essential to review the card you use for online purchases as it will shape the possible losses that a malicious link can take. can inflict on your wallet. .

Let’s see what your map should look like online.

Ideally, a credit card

A credit card is not necessarily more secure than a debit card. However, disputes are easier to settle if a malicious transaction involves your credit card. Banks have insurance programs and grace periods that allow you to alert them if you are monitoring a suspicious transaction, so be sure to keep an eye on your card balance and list of recent transactions and activate transaction notifications.

With debit, the loss of money will be taken directly from your account. This means that it is your own money that you are wasting. And getting it back usually takes longer than with a credit card – which you just don’t need to pay until the bank’s investigation is complete.

For online purchases only, with a minimum balance

I believe in the added layer of security provided by a separate card that is only for online spending. In the event of a compromise, you can easily cut the card without affecting your main bank accounts. Just make sure that if you see anything suspicious, contact your bank immediately and try to cancel the transaction – the faster you do, the better.

The same principle applies to having an email dedicated to your online spending needs, which greatly limits the amount of spam messages you receive and greatly reduces the risk of opening potentially malicious emails disguised as sales promotions.

It is also better to use a credit card with a lower limit, or you can also set a lower limit depending on your spending habits. This is to ensure that the cybercriminals, in case they get their hands on it, can only use a limited amount which will not inflict a huge monetary impact on you.

Kept as a secret and well secured

While life is easier if your card details are saved on every ecommerce platform you use, data breaches should be enough to alert us to the need to keep our financial data more secure. The more data you share and save online, the more risk you put yourself and your finances on.

And like the lesson I learned myself, use a security solution with protection against phishing and online fraud, such as our Kaspersky Internet Security which has a Safe Money feature. Global cybersecurity firm Kaspersky today unveils its second quarter 2021 mobile threat report for Southeast Asia (SEA), where it monitored a 60% increase in attacks using mobile bankers malware detected and blocked in the region.

In the Philippines, Kaspersky terminal solutions such as Kaspersky Internet Security and Kaspersky Total Security, with Safe Money functionality, are available on 11.11 promotions in Shopee and Lazada. Customers can enjoy up to 50% off.


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