Payday loans are on the increase with the aid of technology and many people could get hundreds of pounds within fifteen minutes of applying for their loan, often without even speaking to a member of staff. How confident can we be in an industry with no face and how could we feel secure with online money transactions? Are we getting credit from a licensed company? Are we cyber-safe? What is happening with our personal information? We should look at what users can do to be safe and feel protected when taking online loans.
Contacting companies who are not authorized to trade is a big danger on the Internet. Not all lenders or brokers online would be licensed, make sure you check their FAQ section, bottom of their website or information tab for license number. Not having the right to trade means that the company would not be subjected to regulation and there are less legal restrictions to what they can and cannot do, and might not be subjected to the same laws that apply to most payday loan companies. This could mean that you might have less or different grounds to defend yourself in courts of law, if you should.
Certain websites and certain operational systems could be targeted by hackers. You should always make sure you have working anti-virus protection and firewall, as well as regularly update your software and operational system in order to plug any possible hole a hacker can get through. However, the internet is safe, that is why big online stores such as Amazon and websites like eBay are doing well!
Certain websites use online encryption – if they do, the link bar should turn green or padlock symbol would appear. Encryption is amongst the forms of online protection, it means that the website you are visiting is authentic and that your connection to them is encrypted. Any data transfer is a lot safer and your information would not be passed on to another website without the knowledge of the receiver.
Any website accepting your details is responsible of keeping them safe. There any numerous organizations which investigate and enforce customer information safety. There are European and UK laws which expect companies not to use your details for anything other than what you allowed them to, for a specified amount of time. Make sure you check the FAQ, information tab or the bottom of the company website and check if they have a Data Protection number.
Banks are responsible of keeping your money safe so they would stop any suspicious transfers. Make sure you contact your bank if you hesitate about certain websites which would require your bank details. There are cyber-policemen who monitor the Internet, as well as cyber-teams with each bank who make sure their bank is protected from online attacks.
Most importantly, feel safe. If you think that something does not feel right, you could always try contacting the loan company over the phone. If that is not the issue and you simply feel uncertain about the company itself, re-evaluate and think things through, search for other companies or speak with your bank.
We can say that the Internet offers a lot of opportunities for users to find good offers and for companies to be competitive and have many customers. There are certain dangers but licensed companies would make sure their business thrives through good trade and within the law. Online encryption is an amazing tool of online protection and is difficult to break. It also allows for developers and cyber-teams to be able to fight criminals more effectively and is only given to legitimate businesses.
Your details and bank account are protected by people who foresee the dangers in the Internet and make sure businesses and individuals are safe. As long as you follow our instructions, your transaction should be smooth and care-free.