Convenience at the cost of Security ?? Bad Deal !!

Convenience over securityA few days back, I went to pick up my daughter from her school. The school has a good system wherein whoever comes to pickup the child, has to show the bearer card, so that the teacher knows that the child is being picked up by the authorised person.

All of a sudden I saw one househelp staff asking a teacher to hand over a child to him. When she asked for the bearer card, he said “its in the child’s bag”. The teacher was astonished. She immediately called up the parent to verify and if they knew about this practice being done with their child. She was further shocked by parents’ reply.

“Its more convenient to keep it in child’s bag.” They said, “Many a times we forget to carry the bearer card or to send the card with the staff.”

“What’s the purpose of asking for the bearer card then ?” the teacher asked “anyone can ask for the child and I will have to hand it over. How can you place convenience over security of the child?”

I came across a somewhat similar story with a colleague. She kept forgetting her ATM PIN. So she wrote it on the backside of the ATM Card. I accidently saw it, and asked “isn’t that dangerous? If someone steals your ATM card, he also has the PIN readily available with him.”

“May be” she said, “but it’s convenient. I keep forgetting it”

The above 2 incidences have one thing in common. Many people give up on security so that life becomes convenient.

This attitude gives enough room to fraudsters to play their foul tactics. People use their smartphones for doing fund transfers, online payments etc and stuff up their phones with truck-loads of “Apps” which they themselves aren’t sure of the utility and source. These Apps make you agree that they will access all the personal information on your mobile and then actually do it.

This makes you vulnerable to online frauds. A few cases have been reported wherein the credit card details or netbanking details were used for unauthorised withdrawals or payments. It’s good to be tech-savvy but we need to draw a line wherein we are not letting convenience score over security. A few tips listed below could be helpful :

  1. Rather than using your credit card everytime for paying utility bills, you can opt for an automatic bill payment facility using the same credit card. This would require your signature for first time authorisation and later on it becomes automatic. Thus, it saves you from putting your card details everytime you make online payments. These days even your browsers store a lot of information which is used by the browser developers.
  1. As we move towards a paperless world, don’t make yourself totally aloof from basic paperwork. While entering into a new agreement / investment product / policy, it is better to go the traditional paper way for the first time and get it automated later. If you automate it from the beginning, then you neither have the copy of the terms and conditions that you have agreed, nor you always have bright chances of asking for it later.
  1. Set an upper limit to all your credit cards / debit cards / netbanking for making fund transfer. This will provide you some cushion if you are exposed to a fraud. For example, you try paying / donating Rs. 100 to some unknown site and later it might use your details to transfer Rs. 5 Lakhs to themselves. If you have a limit of say Rs. 20,000-25,000 set for online transfers, then the loss could be minimized. For larger amounts, I would suggest to still use the traditional cheque method as far as possible. (This is only for online payments. If you are swiping your card in your presence, risk could be relatively lesser).

The above tips might sound making life difficult which has become very convenient off-late. But lets remember that if we sacrifice security for the sake of convenience, the damage could be much bigger. The inconvenience or the additional effort required could be worth to protect the big damage.

We look forward to your valuable comments and feedback. Please feel free to contact us on if you have any questions.

(The views mentioned in the article are personal opinion of the author)







Published by professorbajaj

Prof. Saurabh Bajaj is an Author, Mentor, Motivational Speaker and Wealth Planner. He has done his MBA from Narsee Monjee Institute of Management Studies (NMIMS) Mumbai, one of the top 10 management institutes in India. He holds the prestigious FRM (Financial Risk Manager) degree awarded by Global Association of Risk Professionals (GARP), USA. Till date, there are less than 15,000 professionals in the world, who have been honored with this degree. He has also been awarded CFGP (Chartered Financial Goal Planner) Certification by AAFM (American Academy of Financial Management). After his MBA, he joined J P Morgan, the second largest Investment Bank in the world. He has worked with J P Morgan as Risk Analyst for more than two years. Prof. Bajaj also holds an Advisory certification awarded by AMFI (Association of Mutual Funds of India). During his stint at Bombay Stock Exchange, he has handled Investment Management and Treasury operations of the BSE Corpus. He has set up an entrepreneurship venture in the field of Wealth Planning and Investment Consulting under the name “Nidhi Investments” and holds the profile of CEO. Prof. Bajaj sits on the Expert Panel of and as Investment Expert. He is actively involved in investor education through his blog which has a readership from 78 Countries all over the world. His articles are also regularly published in , , ,, and . He has been awarded the title of “Best Article Writer” from in Jan 2012 and has been selected amongst “Top 5 Technical Writers” from all over India in Feb 2013. He has been invited by various TV Channels like SPIN TV, CNBC TV18, UTV Bloomberg Etc for programs like "Expert Advice" , "What Markets Want ", "Budget Analysis" etc. He has been invited by Several organisations like Lions Club, Rotary Club, Agrawal Welfare Foundation, Rajasthan Mandal, Agroha Vikas Trust, Union MF, UTI MF, Arthamitra Gurukulam, Vidyalankar Institute of Technology etc for expert lecture on "Smart Investing", "Life is A Celebration", "Financial Freedom", "The Digital IFA" etc. He was ranked 8th Merit at All India level NMAT which got him selected for MBA programme at NMIMS, Mumbai. He did his MBA with Capital Markets as his specialisation. Soft Skills has become an inevitable part of every selection process and teaching learning process these days. The students from small towns and tier II cities, in spite of being talented and well equipped with technical skills, are seen struggling in the selection process. This is because of their lack of exposure to these soft skills. Mr. Bajaj has a zeal for training candidates to develop these skills and has been imparting the same on since last two years. This zeal and passion inspired him to set up his own firm called “Knowledge Circle” which aims to train candidates for soft skills. Till date, he has trained more than 5000 participants from over 220 organizations across various fields of soft skills. He has been associated with MSBTE (Maharashtra State Board of Technical Education) to conduct Soft skills training workshop for the faculties of Polytechnic Colleges in Entire Maharashtra (Mumbai Region, Pune Region, Aurangabad Region and Nagpur Region) since last 8 years. He has also been associated with ICAI (Institute of Chartered Accountants of India) for training CA Students on various topics related to Communications skills, Group Discussions etc. He was invited by Fr. Agnel Polytechnic College, Vashi for a motivational workshop for faculties. He was also invited by Vivekanad Polytechnic College for "Communication Skills and Email Etiquette" training for non-teaching staff. Apart from these, he has conducted “Capacity Building Soft Skills workshop for Faculties” at ITI Gunj, ITI Pusad, ITI Digras and ITI Umarkhed. This was the first ever soft skills workshop for faculties in the history of ITI’s in Vidarbha. He was also invited by Shivaji Education Society to conduct similar Soft skills workshops for the faculties and office staff of Shivaji Junior College Pusad, Shivaji High School Pusad, Shivaji Vidyalaya Belora and Shivaji Vidyalaya Bhojla. He has conducted training workshop on “Effective Presentation Skills” for the relationship managers of HDFC Mutual Fund, Andheri Branch, Mumbai. He has also been invited at College of Management and Computer Science, Yavatmal, College of Dairy Technology, Warud, B N College of Engineering, Pusad, B D College of Engineering, Wardha, College of Engineering and Technology, Akola, Dr.N.P.Hirani Institute of Polytechnic, Pusad etc. for the Guest lecture on “Developing Interview Skills”.

4 thoughts on “Convenience at the cost of Security ?? Bad Deal !!

  1. Gud one bhai..Convenience at the cost of Security is applicable to all of us. Its in our blood to find an easy way out in almost everything. Thank you for simplifying the importance of health & term Ins in all your articles….

    1. Thanks Bhai.

      Yes I agree that we tend to find an easy way. But these days people are on look out to convert these easy ways to intrude our privacy. Thats why now we need to act ultra cautious.

      Thanks again for your visit and feedback. Looking forward to more in future.

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