A survey by global cybersecurity solutions firm Kaspersky shows that 38% of Filipinos respondents felt secure using digital payments. The increase in digital financial transactions (e-payments, bank mobile apps, online payments) saw a significant rise amid the pandemic as businesses and consumers were forced to adapt to digital means.
The Kaspersky survey, which was done in July 2021 consists of more than 1,000 respondents from Asia Pacific, including the Philippines. It shows that 73% of Filipinos use digital means for remittances, household utility payments, and online shopping. The survey also reveals that 54% of Filipino respondents appear to be somewhat confident that electronic banking and e-wallet platforms are very secure that they use these services at least several times a week.
Because of this, apps or any other payment gateway have become a target of cyber attacks as well as phishing, scam, or fraud.
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Kaspersky studied the behavior of consumers when they believed that their data have been compromised. Experts constantly advise people to immediately call the bank or service company that the money was sent through.
“Notifying the proper institutions promptly is crucial to hopefully get the funds back, avoid further losses and protect oneself from repeat incidents,” Kaspersky said.
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The Kaspersky study, however, shows that 65% of respondents said changing the passwords on their bank or digital wallet accounts and apps were top of the list. On the other hand, half (51%) of surveyed Filipino victims of online scammers and fraudsters admitted that informing their family and friends of what happened was what they did before anything else.
The study shows 43% of respondents follow the advice — only the third in terms of action taken — of security experts, which is to contact the bank or financial service company to report the incident was their immediate course of action.
“Unfortunately, the likelihood of failing to claim the funds back plus a heightened emotional stress would be higher in this scenario because of the delay in seeking help from financial institutions,” said Yeo Siang Tiong, GM for Southeast Asia at Kaspersky. “This is where prevention is essential. The detection of a scam or fraud early on in the transaction means less headache for you and your family and your hard-earned money stays intact.”
“Apart from using a strong password, enabling all security features of the device and apps, and keeping an eye on red flags,” Yeo said. “Practicing good cyber hygiene includes considering dependable software protection even before an unfortunate event takes place and not after encountering an incident.”
Solutions
Kaspersky Total Security (KTS) is among the solutions available in the market today. This is Kaspersky’s premium product that offers a complete, family-oriented defense against cyberthreats.
KTS is bundled with a virtual private network (VPN) so you are assured that your online actions are not logged and hackers are prevented from reading your emails, photos, and bank details. It has a Password Manager that generates strong passwords for you and will help you track multiple passwords which are all secured in a private vault, away from the prying eyes of cybercriminals.
The Safe Money feature of KTS is exactly what regular users of financial services would find beneficial as it protects one’s money, identity, and privacy.
With a KTS installed in a device, payments are made via an encrypted browser so that financial data is not intercepted by hackers while you shop and bank online. It also comes with an extra security feature for locking Android apps and locating Android mobile devices.
It has an Anti-Hacking capability that prevents unauthorized access and hijacking of your Android device and suspicious activities are blocked instantly. It has a Malicious Link Detector that analyzes links on webpages you open and alerts you of the malicious web address based on their threat level. The advanced Anti-Malware feature of KTS neutralizes threats including spyware, adware, keyloggers, spear-phishing, and hard-to-detect fileless attacks.
Kaspersky Total Security is compatible with PC and Mac computers as well as iOS and Android devices. It retails for P1,390 for a one-year license for one device. KTS is currently available in all leading IT stores nationwide, including Lazada and Shopee.
Vaccinated customers can also enjoy GCash or PayMaya credits for every purchase of Kaspersky Total Security. All they need to do is to present their vaccination card to participating stores. Full promo mechanics are available here.
Promo runs from Feb. 15 to March 15, 2022.