McAfee will soon feature new security solutions to protect e-wallets

The relentless march of digitization is pushing the world toward a cashless economic, which is quite comfortable and effective but involves a fair share of risks as online threats are emerging nowadays, and many people are opting for online transactions. The uncontrollable demand of digitization and online transactions gave birth to digital wallets, which is similar to a personal wallet; however, the only difference is that you don’t have to carry it in your pocket so reduces the risk of theft or snatching. However, whenever a new technology arises, hackers and cybercriminals intensify their attempts to break in.

mcafee e-wallet protection

That’s why it would be a great improvement to know how to make a safe online transaction without any interruptions of unethical activities. Digital world is expanding at a rapid pace, spreading like a wildfire across the world.  However, many of us are digital immigrants and hesitate at the thought of making transaction via digital wallets as it involves a considerable risk of frauds and Scams.

To keep your e-wallets protected from such threats, McAfee Company in India that employs a quarter of its global workforce based in Bengaluru developing Antivirus products has stepped forward to build a new security feature.

McAfee Company in India unveils plan to introduce e-wallet security

Indian has a population of over 1.3 Billion, which means India has the largest number of e-wallets in contrast to any other country. The growing figure of e-wallets in India is exaggerating and is expanding to economically inferior regions, which is an open opportunity for fraudsters and scammers to trick users out of their money. Unfortunately, the incidents of frauds and Scams with e-wallet users are set in motion and gaining pace with each passing day.

The scale of e-wallet users is mammoth and so building a security feature that covers all of them is quite a daunting task, said Anand Ramamoorthy, Managing Director of the South Asia branch of McAfee. He claims that users are troubled with fake apps, fake transactions and a whole set of issues that are exclusive in India. Keeping all these issues in mind, we are building a program that covers almost every aspect of digital security.

He noted a massive increase of such frauds all across the country where fraudsters are sending fake wallet payment confirmation messages to buy products from retailers.

To safeguard e-wallets from fraudsters, the Headquarter of McAfee Company based in US analyzed how these apps get access to user’s personal data such as bank details, images, address book and then takes serious measures to block access to fake apps. Moreover, McAfee allows users to locate their lost mobile device on map via another mobile, or make it scream so you can find it fast, or locks, backs up or wipes out all data, depending on your security needs.

Smith Leo the writer of this article has worked in a wide range of tech jobs from tech support to software testing for over four years. Later on, he chose to become a technical writer for sharing his vast knowledge with the readers looking out for some technical help in different products, including printers, security software, email services antivirus, like McAfee activate and more.

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