Security in Online Transactions How does it work and how to identify fraudulent E-Commerce that does not comply with these cybersecurity measures?

Thanks to the development of technology and the digital world, numerous paradigm shifts have been evidenced in society. One of the most important, lies in the way business is donegiven that there are more and more options that the user has to pay utility bills, bank transactions, online purchases, or cancel online services.

However, although this offers certain advantages for people, such as: the ease of purchase, convenience in payment or personalized shipments; the truth is that also can carry great risks. Since, as the number of users using these forms of electronic commerce increases, the dangers to which they are exposed also grow.

Therefore, it is important to know how internet transactions work and if they are really safe or not. In addition to this, it is worth highlighting the risks that exist when buying online, as can be recognized by a misleading ecommerce and what are the most reliable portals for it. Which, we will tell you below.

How secure are online transactions? How do they work?

Basically, to make transactions online, the first step to follow is indicate what you want to buy or pay, be it a subscription, a service or a purchase. For later, enter your personal data which must include your credit card details or, failing that, the payment method.

After that, your data doesn’t go straight to the bank, because most websites have an intermediary or a payment gateway that makes use of the “PCI DSS” standards and, therefore, the data initially indicated are issued to the intermediary in question in order to verify the information. That is, if the card number exists, if it is valid and that everything is in order. Then the broker will proceed to communicate with the bank to which the user is registered to make the transaction effective.

Once the bank verifies that the data is correct and that the required amount of money is available, it will contact the mediators again to confirm that the transaction could be carried out. Finally, the local intermediary informs the e-commerce that said transaction was authorized by the bankso that it proceeds to activate the service or send the corresponding products.

In this way, the service will notify the consumer that this has happened to conclude the sale process. Now, since it is not such an immediate procedure, You may wonder if online transactions are really safe and reliable, in general terms.. But since the information goes through the website, the local and international intermediary and the bank, your data could end up in unknown hands.

So that, It’s not a foolproof method at all.. Nevertheless, it is also recommended to support e-commerce systems, as long as you choose to take care of your personal and bank details as much as possible. Either linking your bank account or credit card to your mobilein order to be aware at all times and be able to detect any strange movement as soon as it occurs.

It is even essential to be aware of which websites you make these transactions, preventing them from being fraudulent e-commerce. In addition to that, you can take care to investigate such websites thoroughly to find out if you can fully trust them. Either checking if you have a support service, keeping them happy and asking them questions directly. Like, looking for opinions of other users via the Internet.

What are the main risks of making purchases online?

Since transacting over the Internet or making purchases online is not entirely foolproof and secure, Of course, there are certain risks that Internet users could fall victim to..

Next, we indicate what type of threats they are:

The perfect target for phishing

One of the most common frauds when making transactions through the Internet, consists of phishing or identity theft. So, the hacker impersonates a person or entity “legitimate” apparently, to obtain sensitive data and information through such deception.

whether they are credit card numbers, bank account details or passwords. Usually the “phishing” or this type of cybercriminals communicate through email, inviting the victim to access a fake website of the entity or organization, in order to proceed to steal any sensitive data. Habitually, they pretend to be banks or e-commerce sites.

Presence of keyloggers

On the Internet, especially while making a payment online, keyloggers are capable of carefully monitoring and recording every key that the user presses when you enter your credit card details, without your permission or consent. Well, through software or hardware, invisibly, the attacker records everything that is typed on the keyboard and stores it in another location.

Therefore, when a transfer is made over the Internet, the victim will be able to give their data to cyber criminals, without even suspecting it. Being this, a tactic that is generally used for criminal purposes and, therefore, keyloggers are estimated as malicious spyware used to capture confidential and financial information to be used for future criminal exploitation.

Losses and more losses

Whenever a user decides to cancel a service through the Internet or make a purchase through an ecommerceusing your personal data and your bank information, is exposed to the following major risks.

Such risks are as follows:

• Loss of data privacy: Automatically, access and handling of your personal information is provided to third parties or unauthorized individuals.
• Loss of data integrity: It is likely that an intruder could modify or delete your information.
• Lost of control: Once you provide your data, you will not be able to have full control over them.
• loss of service: Due to the actions of a hacker, there is likely to be some service interruption as a result.

hidden costs

Another of the most common risks present in online transactions, is based on the hidden costs that may exist. Since, according to official studies, one out of every two users who abandon an online purchase does it because of this.

In this sense, hidden costs can be defined as certain expenses that, without prior notice, inflate the final price of the product or service progressively. Thus, they can be shipping costs, customs costs, management costs and costs in the selected payment method. being this, an unpleasant and misleading surprise for online consumers.

Learn what are the main signals to detect e-commerces fraudulent

As we highlighted earlier, in order to staying safe when doing online transactionsone of the most important keys It is based on accessing ecommerce websites that are reliable and secure.

Which, you can know through the opinion of other users who have already used the service and also investigating the origins of said online store. However, to have much more guarantee on this, it is also valuable to know what are the main signs to discover if an ecommerce is fraudulent or illegitimate and thus, to be able to prevent any phishing attack.

Here are those signs:

Impossibility of contact

If there are doubts about the seriousness of the company or ecommerce you are visiting, it is best to make a phone call to the contact number provided by the website, in order to verify that it is possible to speak directly with the online merchant. That way, They will be able to answer all your questions about its fundamentals and management.

But, if the website you visit does not contain any contact phone number or even an email address to offer help to its users, It is a sign to question its origin. In addition, if there is no answer to the number provided there on several occasions, it means that it’s false and you will have to distrust immediately.

Constantly very low prices

Although it is true, e-commerce companies often launch promotions or discounted items to attract the attention of their potential customers and thus gain visibility and accelerate their sales. But, if this usually happens on the website in question, we recommend you doubt its legitimacy. Apart from that, you can compare the same products in other ecommerce or stores in the sector. So, in case its price is well below the standardit will be an indication to suspect even more.

Negative comments on social networks or forums

As we have pointed out throughout the post, it is also relevant to take into account the opinion of other people regarding ecommerce, to see if it’s safe. Therefore, another effective way to check the seriousness of an online store is to see their comments. through platforms such as social networks or forums.

So, in case you are receiving negative opinions and certain condemnations, you can be sure that it is not a good online site to make your purchases. Since, the fraudulent pages generate offensive comments on the network, very quickly and this will help you avoid falling into their traps.

Request payment in advance

A large majority of fraudulent ecommerces usually provide the option to pay in advance and even, They ask for the cancellation of money in a mandatory way before making the purchase. Which is a key signal to detect that it is a simulated web page.

In addition to this, they are also based on requesting a bank transfer, since once it is made, the transaction cannot be canceled and the user will have lost their money immediately. Being that, the main objective of deceptive ecommerce. That is why it is recommended to avoid making payments in advance and, in any case, use truly secure payment methods. Like, for example, cancel only when the merchandise is received, that is, cash on delivery.

The legal notice or information of the ecommerce

If it is a legitimate company, It must show the detailed information of who is behind the online store, as well as the fiscal data of the company. This being information that is normally located in the section “Privacy Policy” or “Legal Notice”, even, can also be located in the conditions of sale. But, if you do not find any information on the web that refers to said legal information, you can completely distrust the authenticity of the platform.

Since, even if it is a natural person or a self-employed person, you must show their names and surnames, portal address, telephone, email, etc.. On the other hand, if you locate such information and are still unsure of its security, You can perform a Google search based on data such as the NIF of the person in charge of the company or the CIF of the same, to verify its legitimacy. Taking into account that, there are several confidential pages for it.

An inappropriate domain name

Another parameter that can reveal a fraudulent ecommerce, is your domain name. Since, in general, official websites use the domain name of the brand.

Whereas, illegitimate sellers they usually add taglines like “outlet”, “sale” or “discount”. In addition to cheating through subdomains similar to those of famous ecommerceWhat Amazon. Therefore, it is essential that you carefully study the domain name of the online store in question, in order to check whether it is appropriate or inappropriate.

Taking into consideration the following:

• check if the domain in question is registered in the name of the company or a person.
• observe if the domain is old enough to trust.
• Check if the year of establishment of the company matches the year of domain registration.
• Uses the platform web.archive.org to see the changes that a web page has made over the years and thus, relate them to the beginning of it.

List of the best and safest e-commerce portals

In view of the fact that more and more electronic commerce platforms are emerging worldwide, due to the great boom that this practice has taken, There are numerous alternatives that Internet users have to make purchases online.

But, to be able to do it safely and reliably, it is important to use the most convenient portals. Due, we’ve picked 5 of the best ecommerce sites out there right nowbased on the security and trust they have generated during transactions, as well as the volume of executed operations.

That is why here, we present what they are:

amazon

For sure, this is the king of e-commercesince it was one of the first companies that dared to sell products through the Internet and thanks to its functionalities, It has been weighted as one of the most appropriate solutions to buy online. Taking into account that it offers a great diversity of products, such as: commercial lines, clothing, household items, books, software, etc..

In this sense, one of its main advantages is that has a huge catalog of products that manages to adapt to the tastes and requirements of the majority of Internet users. In addition, it stands out for being a reliable portal for transact online, without issuing insecurity for the confidential information of the users. Even, has an excellent Customer Service department that can solve any problem.

alibaba.com

Another of the leading e-commerce companies Alibaba that has become a world power from China. Regarding its operation, we limit that it allows to negotiate any type of products between users from anywhere in the world and, in addition, brings together different Chinese companies and international companies.

Now, unlike Amazon, Alibaba it does not contain an inventory or participate in logistics such as warehousing, sourcing, or shipping. Since, it simply facilitates the execution of transactions and receives a commission for it. In this way, it has generated great confidence among Internet users who use it, thanks to the fact that the platform is based on a service called “Trade Assurance” whose main objective is carry out foreign trade transactions with total security.

eBay

It is considered one of the largest online sales platforms worldwide and registers more than 162 million buyers. Which, focuses its operating model on the auction and therefore, Internet users have the possibility of offering what they want to sell from there. With which, supports internationalization, positioning and reduction in investment.

In addition to that, it is estimated that It is a website that provides remarkable security and confidence, both to buyers and sellers, since it works as an intermediary to carry out this type of transaction. Valuing that, uses the strictest security controls to safeguard user data. Besides, it supports several payment methods that you can choose according to your preferences.

MercadoLibre.com

In Latin America, this consider the largest ecommerce and it is the fourth most visited in the world. Thus, it is a web page that allows its users, easily promote and sell your products by building remarkable trust. Since the platform acts as an intermediary and thus focuses on Check that the terms and conditions for making payments are met.

Thus, Mercado Libre provides various payment methodsamong which are: credit card, debit card, deposits, bank transfers and a system known as “MercadoPago” which has the ability to protect the buyer’s money until he receives the item in question. Additionally, it usually forces sellers to deliver the order within one or two business days.

Rakuten

Consists in Japan’s largest online store and it has spread worldwide to the point of having more than 50 million registered users today. Regarding its mode of operation, we emphasize that it is an ecommerce that brings together countless stores and allows you to participate in its points program for purchases, to later redeem them and thus obtain other products or services.

On the other hand, to make purchases from Rakuten, you will have to find the product that interests you the most and add it to your cart. After that, you must fill in your shipping information (location and agency where you will receive the purchase), as well as the payment data, selecting the method to use and then the store will take care of shipping the product. A) Yes, its reliability is guaranteedalthough some users point out that it can also be improved.