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The digital world is full of opportunities but also risks. Cyber fraud is becoming increasingly sophisticated, which is why it’s important to know how to protect your money and data. Coop Pank's Head of Fraud Prevention, Toomas Tuuling, and Chief Information Security Officer, Sander Eesmaa, share practical tips for staying safe online.

1. Recognize scam websites

Many scammers create online stores that mimic well-known businesses, with the sole purpose of stealing data or money. Although some scam websites are carefully crafted, they often include minor discrepancies.

The very first thing to check is the website’s URL. Well-imitated scam sites may have slight differences compared to the legitimate website. Additionally, the absence of a secure “https” connection can be a red flag. However, a missing secure connection doesn’t always indicate a scam, just as a secure connection doesn’t automatically mean the site is trustworthy.

Scam websites also tend to include content or design mistakes, incomplete information, and broken links. Unrealistically low prices are another common indicator that something might not be right.

The safest way to avoid scam websites is to manually type the website’s address into your browser instead of clicking on suspicious links.

2. Pay safely online

While online payments are convenient, they come with risks that can be reduced through careful behavior.

In Estonia, bank links are one of the most popular and secure payment methods, as transactions occur directly in the bank’s environment. This eliminates the need to share card details with third parties.

It’s also a good idea to set up a separate account with a virtual card specifically for online shopping. Keeping a limited amount of money in this account ensures that con artists cannot access larger sums. Transfer money to the account only when making an actual purchase. You can also link a virtual card or a physical bank card to the account for added convenience.

3. Set reasonable limits

Setting card and account limits is one of the most effective ways to reduce risks during online transactions. Reasonable limits can significantly minimize potential losses.

Account limits control how much money can be transferred from the account, while card limits restrict how much can be spent in stores or online. It’s wise to keep limits low enough to cover daily expenses and adjust them as needed before making larger purchases. Coop Pank allows you to easily change these limits through internet or mobile banking under “Limits and rights”. Regularly reviewing and adjusting limits to suit your needs helps ensure optimal security.

You can also temporarily disable online card transactions if you know you won’t be making any purchases in the near future. This can be done with a single click in your online or mobile bank.

4. Protect your accounts with two-factor authentication

Two-factor authentication (2FA) adds an extra layer of security when logging in or confirming payments. It ensures that passwords or card details alone are not enough—additional verification is required, such as an SMS code, confirmation through a mobile app, or biometric authentication.

To maximize security, activate two-factor authentication wherever possible, including on social media platforms. Always verify that you’re approving only transactions or actions that you initiated yourself.

5. Never share personal data with strangers over the phone

Phone scams are another common tactic used by con artists to obtain personal data or money. These scams are often well-planned and convincing, with con artists frequently impersonating trusted authorities such as bank employees, police officers, or customer service agents.

They typically create a sense of urgency, claiming, for example, that suspicious transactions have been detected on your account and asking you to share PIN codes or other security details. Stay calm and remember that no bank or authority will ever ask for PINs, passwords, or account details over the phone.

If a call seems suspicious, hang up immediately and contact the organization directly using the official contact information from their website.

6. Keep your passwords secure

Managing multiple passwords can be challenging, so it’s a good idea to use password managers like KeePass, Google Password Manager, Samsung Pass, or Apple Keychain. These tools securely store and generate strong passwords, eliminating the need to remember them.

Alternatively, you can save passwords as hints in your phonebook in a way that only you understand. Just make sure that your phone itself is protected with a PIN code or biometric authentication.

It’s also worth considering doing regular data backups. Backing up your data ensures you can recover important information in case of a lost or damaged device, preventing significant financial or emotional loss.

7. Talk to your loved ones and offer help

While anyone can fall victim to scams, older people tend to be targeted more often, as they may be less familiar with technology and common fraud schemes.

Take time to share practical advice with your loved ones and help them recognize scams. Use simple, relatable examples, such as describing a typical phone scam scenario, to make the information easier to understand.

Encourage them to contact their bank, the police, or a family member if they’re unsure about a situation.

Take action today: review your limits, activate two-factor authentication, and talk to your loved ones about online safety to keep your money and data protected!