Would you like to apply for a loan online? What about your data safety? Could your data be intercepted, or used for any purpose other than your loan request? Brief overview of the precautions to be taken before making an online loan request.
When making an online loan request, you have to fill in a form. This form includes basic questions (name, contat information), but more confidential information as well: income, employeer’s name, birthdate, … When you submit this form, your data is being sent to the loan agency in charge of the website.
There is a risk of data in-transit interception by cyber criminals, whether by using a security breach or by hacking the website. Thus, your confidential information could get into wrong hands. If this happens, your data can be used for:
The risk is fortunately low, but still exists, and the damage can be severe. In order to adress thos security issues, more and more websites use a security certificate.
When you make an online loan request (or if you enter any information in any online form), there is an easy way to theck if the website is secured. If the web address begins with https://, then the website is protected with an SSL certificate. An SSL certificate ensures that any communication between the website and the site owner (the loan agency) won’t be intercepted by third parties.
Today, there are many loan agencies offering the possibility to make a secured online loan request. For example:
The data security is not the only problem. How can you be sure that your data will be used to nothing more than to process the request? Can your data be used for anything else, or be given to third parties? In order to check this, you should verify the disclaimer of the loan agency:
All in all, the first thing that should come into your mind before submitting an online form is asking yourself: who will receive my data? Is that a real company (with a real postal address)? Is this company trustworthy?