Internet Banking Security Tips
Internet banking has always been a convenient and popular service among customers. Whether it is bill payments, fund transfers or opening of fixed deposits, Internet banking enables users to carry out these activities from the comfort of one’s home or office. For this reason, the rate of adoption and usage of Internet banking has witnessed a rapid increase in the current coronavirus pandemic situation. It is because of this increase in the usage of Internet banking that there has been a sharp rise in the number of financial frauds that has been reported during the pandemic. Users need to be even more careful when they use Internet banking.
By observing the following precautions, you can avoid falling victim to frauds –
- Always change the default password that is provided for logging in to Internet banking for the first time. Choose a strong alphanumeric password, and keep changing passwords at frequent intervals or as may be recommended by the bank.
- Avoid logging in to your bank account from public computers. In crowded places, the risk of exposure of your password increases. If you have to login from such places, make sure you clear the cache and browsing history, and delete all temporary files from the public computer before and after use. Do not allow the browser on the public computer to remember your login ID and password. It is recommended to use ‘incognito mode’ or ‘private mode’ within the browser to avoid storage of information or passwords.
- Your bank will never ask for your confidential information via phone or email. Never share your login information over call or email requesting for the same. Use your login ID and password only on the official login page of the bank. Login pages of banks are hosted on secure websites. Look for “https://” in the URL when logging in.
- Check your account after making any online transaction. Verify whether the right amount has been deducted from your account. If you notice any discrepancies, inform the Bank immediately.
- Always use licensed anti-virus software on your personal devices to protect against new viruses. Keep your anti-virus software updated always to ensure that your confidential information stays protected.
- Malicious users can access your device via an internet connection and steal your confidential banking information. Always log out from the banking site once your work is done, and disconnect your device from the internet when you are not using it. When transacting through mobile phones, it is advisable to use mobile banking applications rather than using internet banking through the browser.
- Always type the URL of the bank in the address bar of the browser rather than clicking on links given in an email or a message. Individuals with malicious intent may send emails with fraudulent website links that are designed exactly like the bank’s original website. Once you enter the login details on such websites, they may record those and use that information to gain access to your accounts and steal from you.
Remember, Internet banking is for your convenience and ease. Just a few safe practices help you in maintaining the security of your banking accounts and use Internet banking without a worry.