Desk Report

28 March, 2023 02:45

How to protect yourself from cyber attacks in online banking

Photo: Collected

Online banking has become a vital part of our lives, providing us with the convenience of banking from anywhere and at any time.

what is Online banking
Online banking, also known as internet banking, is a service provided by banks and financial institutions that allows customers to access their banking services over the internet. With online banking, customers can perform a diversity of transactions and activities without visit a physical bank branch. These transactions include checking account balances, transferring funds between accounts, paying bills, and applying for loans and or credit cards, getting account statement. Online banking is typically accessed through a website or mobile app, and requires customers to have an internet connection and login credentials provided by their bank.

The use of online banking has become increasingly popular in recent years due to its convenience, accessibility, and flexibility. As such people choose the way day by day.

Online banking services can be accessed from anywhere in the world, 24 hours a day, 7 days a week, making it easier for customers to manage their finances on their own schedule. Here is no holidays, nothing; it’s always open and ready to serve. It also disregards the need to physically visit a bank or ATM, which can save time and money for customers. Moreover, online banking allows customers to view and track their transactions in real-time, making it easier to monitor account activity and detect potentially fraudulent activity if any.

Many online banking services also offer features such as mobile check deposit, which allows customers to deposit checks by taking a picture of the check with their smartphone. Hence, here no need to visit a bank branch or use an ATM to deposit a check. Another feature of online banking is the ability to set up automatic bill payments, which can save time and help customers avoid late fees.

Despite the many benefits of online banking, there are also some risks to be aware of. One of the major risks is the potential for cyber-attacks and online fraud. Cybercriminals are constantly seeking ways to gain access to sensitive information such as login credentials, debit and credit card numbers, and bank account details. Customers need to be watchful in protecting their personal information and take steps to ensure the security of their online banking accounts.

Another potential drawback of online banking is the possibility of technical bugs or errors. While rare, online banking systems can sometimes experience outages or other technical issues, which can cause troublesomeness and frustration for customers.

With the increasing use of online banking, the risk of cyber-attacks has also increased. Cybercriminals are always looking for ways to steal sensitive information, such as bank account details, credit card numbers, and personal identification numbers (PINs).

In this article, we are going to discuss how to protect yourself from cyber-attacks in online banking.

Keep Your Passwords Strong
One of the most significant things you can do to protect yourself from cyber-attacks in online banking is to keep your passwords strong. Your password is the key to your online banking account, and if it falls into the wrong hands, unauthorized person can gain access to your account.

Here are some tips to create strong passwords:

  • Use a combination of upper and lowercase letters, numbers, and symbols.
  • Avoid using personal information, such as your name, birthdate, or address, in your password.
  • Use a different password for each online account.
  • Change your password regularly.
  • Use Two-Factor Authentication

Two-factor authentication adds an extra layer of security to your online banking account. It requires you to provide two forms of identification to access your account. This could be something you know, such as a password, and something you have, such as a verification code i.e. OTP (One time password) sent to your mobile phone. Two-factor authentication makes it harder for unauthorized persons to access your account, even if they have your password.

Keep Your Software Up-to-Date
Keeping your software up-to-date is essential to protect yourself from cyber-attacks in online banking. Software updates often include security patches and bug fixes that address susceptibilities that could be exploited by cybercriminals. Make sure you regularly update your operating system, web browser, and any other software you use for online banking.

Use Antivirus Software
Antivirus software is designed to detect and remove malicious software, such as viruses and malware, from your computer/Laptop. It can also help prevent cyber-attacks by blocking suspicious websites and unwanted emails. Make sure you have antivirus software installed on your computer/laptop and keep it updated.

Avoid Public Wi-Fi
Public Wi-Fi networks are often unsecured, which makes it easy for unauthorized persons to intercept your internet traffic and steal sensitive information. Avoid using public Wi-Fi networks to access your online banking account. If you need to access your account while on the go, use a virtual private network (VPN) to encrypt your internet traffic and keep your information secure.

Be Wary of Phishing Scams
Phishing scams are one of the most common types of cyber-attacks used to steal sensitive information. Unauthorized persons use phishing emails and fake websites to track you into providing your personal and financial information. Be wary of any unwanted emails or messages asking for your login credentials or other sensitive information. Always verify the authenticity of the website before entering your login credentials.

Monitor Your Accounts Regularly
Regularly monitoring your online banking accounts can help you detect any unauthorized activity and prevent cyber-attacks. Make sure you review your account activity and transaction history regularly. If you notice any suspicious activity, contact your bank, and found if any you can reset immediately.

Finally, protecting yourself from cyber-attacks in online banking requires a combination of strong passwords, two-factor authentication, software updates, antivirus software, avoiding public Wi-Fi, being wary of phishing scams, and monitoring your accounts regularly. By following these tips, you can keep your online banking accounts secure and protect your sensitive information from unauthorized access.

আপনার মন্তব্য

আলোচিত