5 Tips To Stay Safe From Banking Fraud

Safe Banking Tips (Image Courtesy: Tripwire)

Internet usage in the world is growing very fast. There has been an increase in the growth of mobile internet. Online banking is also fast growing. These digital channels are also being used for banking and payment so that they are simple, convenient and quick. Digital channels have revolutionized savings, investment, money transfer, bill payment, and online shopping methods. In spite of these, the Internet is also not untouched by fraud. Banks have set up such systems and equipment so that transactions can be ensured from a secure server. Customers also must take precautions to avoid fraud, because vigilance is the only defense.

5 Tips To Stay Safe From Banking Fraud

Secure Network Access (Image Courtesy: austinmarketing.co.uk)
Secure Network Access (Image Courtesy: austinmarketing.co.uk)

Secure Network Access Account Access: Ensure that your router is password-locked, access to internet banking account with cyber café. Most online banking websites are accessed from home or from the workplace, where it is necessary for logging off the computer and cleaning the cash memory. Also check the site’s safeguards while doing online transactions, such as the lock icon or ‘https’ URL on the browser status bar, where’s’ tells the safe.

Latest Information To Bank (Image Courtesy: zeto.ie)
Latest Information To Bank (Image Courtesy: zeto.ie)

Give Your Latest Information To The Bank: It is essential to let your bank know about your most recent contact information. This helps in sending you information about any changes that occur on the Bank’s website. It is also useful to check your account at least twice a week and keep track of transactions. Your account is now also accessible from your cell phone. Therefore, it will be easy to be active with mobile banking and see your transaction regularly.

Phishing (Image Courtesy: Big stock)
Phishing (Image Courtesy: Big stock)

Beware Of ‘Phishing’: ‘Phishing’ is the email that appears to be sent from the bank or any popular shopping website or institute. They are tried to gain personal information of the customer. Clicking on the links on them opens the fake website that looks like real. Your risk of online security increases as soon as you enter your user id and password. Your important information like mobile number, log-in ID, password, debit card information, CVV, birth date, mother’s first name can be stolen. Emails, calls, and SMS received from unknown sources should be cautious.

Strong Password (Image Courtesy: kaspersky Lab)
Strong Password (Image Courtesy: Kaspersky Lab)

Make Your Password Strong And Keep Changing: Using strong passwords is a simple and effective solution, which should be kept in mind. The password you set to make sure it must contain at least eight characters, including numbers, letters, and symbols. Do not use generalized information such as your birth date and so on. The password should be changed in less than 60 days.

Anti-Virus (Image Courtesy: Pixel privacy)
Anti-Virus (Image Courtesy: Pixel privacy)

Use Anti-Virus And Latest Security Measures: We protect our devices from viruses. Buy and use the reputable company’s anti-virus only. Keep updating the updates sent by that software. By ignoring or delaying update messages of websites and vendors, your device may be a virus victim. Finally, if you find any transaction in your account that you have not done, contact your bank immediately and inform them.

Avoid Open Wi-Fi (image Courtesy: Shellvoide)
Avoid Open Wi-Fi (image Courtesy: Shellvoide)

Avoid Using Public Wi-Fi Or Use VPN Software: The biggest treat of open Wi-Fi networks is that hackers can sit between the user and hot spots and keep track of all your data without any hassle. The hacker sees an unsecured connection as an opportunity, where it can quickly convey malware to your system. For that reason, avoid using any internet banking or e-commerce site using public Wi-Fi. If you regularly use this kind of network, then set up VPN software on your computer or mobile. This will help in establishing security between the computer and the internet connection. This hacker will not be able to hack your data easily.

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