Being armed with information on our fingertips brings with it a host of interesting challenges though, especially when it comes to online transactions.

The rise in various services shifting towards online platforms has also meant higher risk of financial breaches for consumers.

Cyberattacks in digital transactions could be executed in the form of phishing, man-in-the-middle attacks, and data breaches, among others.

Phishing is when criminals impersonate a trustworthy entity, such as a bank, company, or government agency, to trick individuals into revealing sensitive information, such as passwords, credit card numbers, and so on, says Mehta.

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