As of April 2012, it was estimated that about 423.5 million people worldwide have accessed an online banking site. This number represents 28.7% of the worldwide internet audience. It is more likely that the trends will increase as more and more bank clients discover the convenience brought by online banking.
However, patrons of online banking should understand and be aware of the security risks. Just like real life banking, the risks of online banking are manageable if precautions are followed.
1. Be sure you are on the right online banking web page. Cybercriminals can make a web page identical to the real one. In the process of logging into the fake website, you might expose your personal details and password. It is safer to enter the real URL on the address bar when making online banking transactions.
2. Scrutinize emails you receive from your banker. Most internet scam victims have received unsolicited emails. These emails provide “verify” or “update” buttons. When clicked, these buttons will ask for log in details and password. Never fall victim to this cybercrime. Legitimate bank correspondences will never ask you your personal details through emails.
Furthermore, take note of general greetings such as “Dear Sir or madam” or “Dear Valued Customer”. Your bank should be able to send you personalized emails indicating your name.
3. Secure your computer with updated anti-virus and keep your firewall enabled. Aside from protecting your PC, these measures add another layer of security to your online activities. When you provide for the URL, be sure that the URL starts with “https”, the secured communications protocol.
4. Be aware of other safety guidelines. Never give your log in details to friends or family. If you should write down your password, disguise it with some “codes” which only you can decipher. Use different passwords for your email, online shopping, and online banking. Use the security measures provided by your bank. Do not do your online banking transactions in public places or using public Wi-Fi connections. Log out your account properly after every transaction.