Tips to stay safe from online banking frauds

Because of Covid-19 lockdowns, the banking world across the globe has switched to the online banking plan. For all the basic needs, people need not visit the bank premises on a physical note. As they can opt for online banking services, to quench all their account needs.

But as soon as the world started taking the help of online banking, it started giving multiple opportunities to cyber criminals to exploit the users and siphon money from their accounts.

To block such online banking frauds, here are some tips that can help in making your online presence safe and secure.

Often change your password– It is better if you change your online bank account password every month. Also ensure that the password is a minimum of 12-15 characters and is mixed with alpha-numeric characters tucked into one or two special characters.

Avoid using public Wi-Fi’s- Some people have a habit of using public Wi-Fi’s in airports and transit stations for their online banking needs. Remember, such public routers are always messy, as they can be induced by spying malware by criminals who then prey on the user accounts to siphon money at a later stage.

Always use genuine banking apps– The Internet is filled with many fake and malicious websites and applications. So, online users should be vigilant while using such applications and use a 2FA for accessing their accounts online.

Beware of phishing and Vishing scams- Phishing is a kind of online fraud where hackers use fake websites of companies to fraud users. Like they can create a login webpage of a noted bank and send a link to victims to urgently update their personal details of their account by following the malicious link. As the web page looks similar, the victim never gets suspicion and hands over the credentials by typing them onto the webpage. Vishing is a similar scam where hackers make phone calls or leave voice messages purporting to be from genuine companies. But in reality, they just entice the user to reveal personal info, such as card numbers to fraud them.

Secure the PC or the smart phone with the best anti-malware solution as it will keep all kinds of security issues at bay.

Avoid revealing debit or credit card info– Better to avoid revealing debit or credit card PINs or CVV numbers data is high on demand on the dark web and can be used by criminals.

Hope, the above stated information saves online banking users from all kinds of cyber frauds!


Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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