With the digital world evolving at an extremely rapid pace, cyber crimes have picked up as well. As a result, it is also important to take precautions to protect your privacy in times of digital invasion. Recently, a financial advisor warned people against the risk of linking their debit cards to Apple Pay or any other digital wallet. According to a New York Post report, linking these digital wallets has a high risk of unauthorised transfers if someone gets access to the phone. The information was shared by Dean, of the TikTok duo Alexis and Dean, and has resonated with a lot of people on the internet.
In a video uploaded on a social media platform, Dean revealed that linking debit cards to digital wallets is riskier as they are directly linked to savings accounts. This can lead to potential invaders stealing all the money in the savings account. He laid emphasis on using credit cards as the companies offer more fraud protection for them. “If you want to be safe, remove your debit card from that platform and just use your credit card as the main payment,” he told the publication.
Many people link their debit cards with these wallets because of their convenience, but it is important to give priority to security. As per reports, there have been instances of thieves stealing money through digital wallets all around the world. In one such example, a thief in Minnesota, USA, got in touch with a youngster in a bar and stole $300,000 by accessing his phone. He then transferred the money to his own account using these digital wallets.
Here are some tips to protect your accounts from such crimes:
Regularly Monitor Statements: It is important to regularly check all the statements and transactions to get a hold of unauthorised payments from the account.
Remember the Pin: It is advised that one should remember their pin. They should avoid storing them digitally on notes.
Use Secured Sites: While doing online shopping, prefer websites that have a secure connection (https://) and a verified payment gateway.
Put a Transaction Limit: Put a transaction limit on the debit card. This will help in the case of unauthorised use.
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