Advancement in technology has brought with it an easy and efficient way of getting things done and internet banking is one of them. Internet, online or electronic banking is a channel through which you can perform banking transactions conveniently on the internet without going to the banking hall and it is available 24hrs daily, 7 days a week, but what are the risks?
You might have had your Facebook or Twitter account hacked in the past or may have received a scam mail before, but while these cyber criminals might be interested in stealing your password or chatting-up with your social media community, their actual interest is your money and they will do whatever it takes to get to it. What criminal doesn’t what money?
How do you protect your information and account from cyber criminals There is no need for panic as banks are doing their utmost best to ensure that your deposits are safe but you need to be cautious of that fact that danger lurk at every turn on the internet. These are ways you can protect yourself:
Usernames and Passwords
Using the same password and username for all your online accounts, leaves you vulnerable on the internet, this is because it makes the job of the hacker easy as one hack means all your online accounts has been hacked. To avoid this, make your password long and a mix of upper and lower cases, numbers, and special characters.
The easiest way you can be compromised is if you click a link and enter your information on a site that looks like your banks but actually isn’t. A lot of people have fallen victim to this simple trick employed by cyber criminals who clone bank websites and ask unsuspecting customers to login their details. To protect yourself from this, when ‘your bank’ sends you an email asking you to log in, don’t click the link provided in the email. Rather open a new browser window and log in to your banking account that way.
It is nice to discover a great deal on the internet, but don’t be carried away by the bargain. Before embarking on the shopping spree, be sure to ascertain the authenticity of the web link or site before surrendering your bank details.
It is advised not to perform a banking transaction on an open network as this is usually prone to attacks and hacks. But banking on a mobile network has a degree of protection as it is a lot difficult for cyber criminals to sniff your cellular data stream than to steal passwords from open network traffic.
After your banking transaction, make sure you logout of the site or app. This is one sure way to protect your information from dodgy activities on the internet.
Online banking is a convenient way to carryout banking transaction but it is equally a convenient way for the criminals to get your money this is why you should protect yourself at all times.