When dealing with online customers, online banks display their transaction policy on a designated section of their website. To ensure safety of your data, online banks usually go for the direct-modem connection rather than the open access internet. However, if internet banking is unavoidable, banks take the services of computer experts to form encryption codes embedded with a string of bits forming an algorithm which prevents data from being hacked. Other safety measures for online transactions include: providing your password and PIN (personal identification number). Both can be changed as many times as you like and also you need to be sure the security is operating properly e.g. on internet browser you will see a padlock symbol which reads “SSL Secured (128 bit)”. This SSL protocol ensures a high security level of the encrypted kind between your web browser and the bank’s server. You also need to watch the address bar closely and make sure it reads https: and not http:, the latter being a proof of a secured connection is denoted by an extra ’s’.
There are instances when online banking isn’t so safe. Firstly it can be the attacked of hackers into the main banking computer system. Secondly, those cute little hyper links urging you to ‘click’ do NOT take you to your bank’s site, but somewhere else totally. Thirdly, you need to be cautious of ’spyware’ a by-product of software installed online- which collects your information and transfers it for corrupt advertising purpose. Fourthly, employee theft cannot be ignored. There is not much you can do here as you are prone to this risk even when paying your restaurant bills.
The good news if you like to educate yourself and get protection against online transactional risks you can do the following things.
-Do not be prompted by spam emails, claiming to be from your banking institution, , to give out your account details.
-Use virus doctors which monitor your spyware or adware if any have crept into your computer.
-Besides the financial institution is having a firewall and you can opt for one too so that it monitors all dealings on your internet connection.
-Anti-virus software helps a lot too by checking all software that you download besides warning you of any creepy, suspicious files, videos etc.
-Don’t tick the option that asks you “Do you want Windows to remember your password” as anyone can easily access your info by pressing enter.
-Do not use PCs at unknown places like internet cafes or even friend’s place.
-Don’t use very common words like your name, sir name, or DOB as password.
Finally, try to be aware of any news item that attempts to warn online user of any upcoming or present-day virus.
If you want to learn more about national banks, please go to banking terms to learn more.
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Tags: banking, banking terms, checking account, credit, Debt, finance, loans, mortgage, Mortgage Debt, online banking, savings account