In today’s world, as the number of financial institutions increases and financial services show greater diversity, consumers have easier access to financial resources and manage their money with ease as borrowing money becomes relatively simple.
On the other hand, greater access to financial services, along with the development of digital technologies, has also given rise to new risks of financial fraud. If third parties are able to access your personal data, there is an increased risk that they will use this information to their advantage. For example, they can misappropriate your cash using your card data. Sometimes, for granting access to your personal data, all it takes is for you to to neglect the card, give it to another person or activate ‘spy’ software on your PS after receiving a viral message.
It is advisable to be aware of what financial security is and why it is important, which types of financial fraud are the most common, what scheme is used by each of them and how you can avoid it. By following the tips and practical steps you will be able to ensure your financial security by protecting your own accounts, cards or devices.
More information on these and other issues is available on the Financial Education Portal (Text available only in Georgian).