Online banking is an attractive target for hackers as most people conduct their banking online these days. The risks that come with online banking include:
- Phishing
Tricking people into clicking a link in an email message to gather their username and password.
- Identity Theft
When your personal information is stolen and used to gain access to your finances.
- Keylogging
A spyware activity that records keyboard activity in order to gain access to confidential information.
- Pharming
An online scam that uses a malicious code that has been installed on a victim’s device to redirect them to a malicious website.
How to stay safe while online banking
- Do not access online banking or perform transactions when you are connected to unsecured or public wi-fi.
- When accessing your bank’s website, check for the padlock icon to ensure that the site and your transactions are secure.
- When typing in your bank’s URL, check for spelling errors as malicious sites can be created with minor spelling errors in the web address.
- Only download verified official apps from your bank from the App Store or Google Play.
- Ensure that you use multi-factor authentication in addition to PINs and passwords when performing online banking transactions.
- When you receive an e-mail from your bank, check that the sender’s email address is an official email address.
- Always have the latest antivirus software installed on your computer and ensure that all your software are patched with latest security updates.
- Avoid selecting the option “Remember your computer” as it allows you to skip security questions that banks tend to ask.
- Make use of Virtual Private Network (VPN) so that your online activities will not be tracked.
