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How do you use the internet banking safely?

Internet banking has now offered a convenient mean to access your financial needs right from the comfort of your home. Moreover, with the ever progressing technology, mobile banking is now making its way alongside this form of internet banking.

But the flip side of these convenient banking means is the risks that are involved. There is always a risk that a user’s data will be compromised or even an unauthorised access the user’s account is given. In fact, you may not be aware that your account or funds have been accessed by an unknown party until it is too late.

So how can you use internet banking without it affecting your investments and funds? Here are some tips you can keep in mind:

Opt for a genuine anti – virus software: In order to protect your computer, phone or laptop from any attempts of phishing, malware and other security threats, you will need to use a genuine anti – virus software. This software helps in detecting and eliminating adware, malware and spyware that can access any sensitive information or unauthorised data.

Avoid using public Wi – Fi: One of the biggest drawbacks of an open Wi – Fi network, is that between the end user and the hotspot, a hacker can easily trace all data, without any difficulty. Unsecured connections are a perfect opportunity to introduce malware unknowingly into the device you will be using. If you must use the public internet network, avoid using it to access sensitive information.

Opt for VPN software: When accessing a public network, there is a risk that the data at your end or the source will be either compromised or exposed. On connection, you risk exposing your data or providing a gateway of exposure. But with a VPN software, the connection and data are kept secure and encrypted. In this way, your internet and mobile banking will be kept away from prying eyes.

Update your OS regularly: Be it your phone, your computer or laptop, your operating system needs to be regularly updated. These updates normally comprise of the latest security patches and updates which help protect your system against evolving viruses, malware or adware which can affect your internet banking. At the same time, avoid ‘rooting’ or replacing the original software of your systems with pirated systems as they can have glitches in them, allowing unauthorised access to your devices.

Update your passwords regularly to a strong one: While this may be a tedious job, it is important for you to keep your account safe while maintaining confidentiality. While it is a given that you don’t need to share your details with anyone, you should also be aware that you shouldn’t share your information even when you are requested for it. Regularly change your passwords to new and strong ones. For additional security, create and maintain different passwords for logins and transactions.

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