Cash is something that can be destroyed or stolen without chance for recovery by the victim. In a cashless society, you could still have theft, but there are better chances of reversing the charges when there is an intermediary under contract as a merchant with the provider of the cashless transfer instruments. This adds to the fees that we all will have to pay to maintain the cashless systems, but it also provides incentives for improved security, the cost of which is often spread across all consumers of the systems, and not just the people who happen to be in riskier environments.
Benefits of cash include the ability to conduct transaction anonymously. Even if its possible to anonymously purchase a cashless account with a balance, such as a prepaid debit card, there is information available as to where it was purchased and when, and what other purchases were made with the card, when and where. none of that is possible with cash unless people are recording unique serial numbers on notes, which they do not normally do.
We want to believe that you must have heard about the cashless policy, so we won’t be going into explaining what it’s all about.
To avoid the traps and scams, the most useful tool you have in order to protect yourself is knowledge. Being aware of what to look out for, thereby minimising your risk.
1. Check the security of the site
Always check that your site is on a HTTPS:// site instead of the usual HTTP:// site when paying online. The added S is the extra security layer needed to keep your sensitive data secure.
2. Check your monthly statements
Sometimes fraud is happening in smaller amounts more frequently.
3. Never send credit/debit/Verve card information over email
Email is never secure, no matter what anyone says. Even if it appears like it’s from your bank or a company you know, they will never ask you to do this in the interests of your security and theirs. Never click a link in an email that supposedly takes you to your account.
4. Use genuine antivirus and regularly update the virus database.
Avoid the use of pirate copies of antivirus softwares. It is advisable to download free copies of antivirus such as Avast/Avira where you will be given a license for one year. This will protect you for your “everyday surfing” unless you are a hacker which we don’t believe you are. (if you are, you won’t be reading this).
5. Mix n Match Your Password.
Never use your name, spouse name, date of birth or any dictionary word as your password. It is advisable you mix your password with letters(Caps n small), numbers and signs e.g. Niger@1247#. This makes it somewhat difficult for the password generator.
6. Store your password
Please do not write your password on just any piece of paper. You can use a password management apps/softwares depending on your device. Example of such apps are Keeper,Roboform, Sticky password, Kaspersky password manager etc.
The password management software can save you time and keep your online interactions and personal information secure. It acts as password storage and can store your usernames and passwords and automatically log you in to your accounts with sophisticated, difficult-to-guess passwords. Password managers employ powerful encryption methods to secure your information in the database and during data transfers. The password manager is locked down tight behind one master password that only you are privy to.
Since the software automatically logs you in without the use of a keyboard, it can bypass malicious keyloggers. And since it stores the correct URL for you, it can help prevent you from accidently logging in to deceptive phishing sites. When signing up to a new site, it can automatically enter your contact information such as name, address, email, telephone number and more. Or, you can use a virtual keyboard that keyloggers cannot capture from, and it masks your keystrokes so those who might be looking over your shoulder will not see what you are typing either. The new account information can be added to your password database instantly.
Finally, please BE VERY CAREFUL WHEN TRANSACTING BUSINESS ONLINE. Enjoy the online experience.