and make purchases.
Unfortunately, cyber criminals also find online banking convenient for rip- ping off unwary consumers, using a variety of scams to get access to passwords and account numbers.
The Week tells you how you can safeguard your money online[break]
stay clear of random emails
Never directly answer or respond to an email from your bank. Cyber thieves often copy the graphics and logos of financial institu- tions, so a fraudulent email can be virtually indistin- guishable from a legitimate message. Instead, try con- tacting your bank to verify if they have indeed sent you an email first if you are not sure. Be wary of requests for information, particularly if asked for the last three digits on the signature strip of your card. The Bank will never ask you for these numbers and your PIN number.
One of the cyber dangers cited in the so-called Bang- kok Syndrome besetting tourists in Thailand is the likelihood of one’s password being asked to be repeated by the ATM machine. If this happens, the best advice is: Simply withdraw your card and go elsewhere.
use a safe Browser
Use a browser that auto- matically warns you of sus- pect websites, which can steal security codes and account numbers. Google’s Chrome browser is safer than others and warns you when it thinks there’s some- thing wrong. It has auto- matic phishing (fake email and website scams) and malware protection, which will warn you if a site you’re about to visit is suspected of criminal activity.
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Pick a stronG Password
There are programs that scan Facebook accounts, for example,lookingforpersonal information that can then be used to guess passwords. So don’t use pet names and birthdates. Use a password that’s a combination of let- ters and symbols.Your online bank account should not have the same password as any other account such as email or social media. It is also important to have dif- ferent passwords for differ- ent sites, so that if your pass- word is cracked, only one site is compromised. Don’t store password information on a mobile device or any- where where it can be easily accessed by another person.
For extra security, make sure you change your passwords every couple of months.
siGn uP for email or text messaGe alerts
Most banking websites allow users to sign up for notifications. You’ll then receive an email or a text message whenever a speci- fied amount of money is withdrawn or deposited to your account, or if there is unusual activity. This way you’ll be notified of every transaction made from your account. By monitoring your daily account activ- ity, you’ll be able to identify any unauthorized transac- tions or other indications that your account has been hacked. Most banks these days offer this service and it’s very easy to sign up for it, if you haven’t already done so.
Get antivirus
Use an antivirus soft- ware to periodically scan your computer. There are plenty of reputable free programs from the likes of Kaspersky, Avast, AVG, and Bitdefender. Keep it up to date and always turned on. You should also scan your computer for viruses, spy- ware and other malware on a regular basis. This will guard you against cyber threats that can steal your passwords. More and more people are saving valuable time by using their mobile phones to carry out their banking chores. However, the same threats that exist in a PC also exist in cell phones. So use a security program even on your phone. Also, it’s wise to download only those files from sources you trust and reputable websites even if you have an antivirus program installed.
stay safe on the move
Online banking offers the convenience of paying bills when you are on the road. But you should never use a friend’s computer or a public PC. Don’t use pub- lic computers to do online banking because account data may be accidentally stored in the computer and then possibly be accessible to others. If you’re using a laptop, never conduct financial transactions over an unsecured public WiFi network. If using a router at home, make sure your broadcast signal is suf- ficiently encrypted. Most importantly, don’t forget to log out of the site when you’re done making online payments.
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