Security Advisory

Safe Online Shopping

Orchard Road is continuously getting crowded with the rise of new malls one after the other. Are you planning on joining the crowds at the malls or will you be shopping in the quiet and convenience of your own home at your favourite 24-hour online store?

The latest survey on online shopping habits by MasterCard worldwide revealed that in Asia Pacific, Middle East & Africa, the online shoppers across this region spent an average of US$667 in Q4 2008 versus US$633 in Q4 2007. This is an average of 3.3 purchases up from 3.1 in 2007. In Singapore, the number of online shoppers has been increasing over the past 5 years with 30% of shoppers clicking their purchases. A huge part of this figures fall under fraudulent transactions.

While you're shopping for your friends and family, don't give the hackers an extra package too. Take charge of your security and safeguard yourself by following these tips for a safer and smarter online shopping experience :

• Shop at trusted merchants.
  You should shop at online merchants that are known and trusted. Singapore merchants with sound online business practices can be awarded the TrustSG seal. Alternatively, check online reviews of the merchant.
• Enter financial details on protected sites only.
  The security lock should be displayed on the bottom of the page you are entering your credit card or personal details. This provides encryption of the data you are sending to the merchant, and prevents it from being captured by hackers.
• Install anti-malware software and keep it updated.
  Use a trusted PC with anti-virus, anti-spyware and firewalls installed, for online shopping. To be effective against blocking the latest viruses and spyware, they should receive updates frequently.
• Keep your passwords secure.
  Never share your Internet passwords with anyone. Use different passwords for different websites. Remember DBS will never ask for your passwords.
• Check your credit card and bank accounts.
  Always monitor your credit cards and bank account activities to ensure they are not being misused. You can check them online instead of waiting for the bills to come possibly one month later.

Happy Shopping!!

Reference :
Cybersource : http://www.cybersource.com/news_and_events/view.xml?page_id=1649
Ecommerce Journal : http://www.ecommerce-journal.com/news/
15370_mastercard_survey_reveals_a_growth_in_online_shopping_despite_economic_crisis
Forrester survey : http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt082.shtm
Trustsg : http://www.trustsg.com.sg
IDA survey : http://www.ida.gov.sg/Publications/20070822125451.aspx