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Online Banking Safety

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Online banking is an attractive target for hackers as most people conduct their banking online these days.  The risks that come with online banking include: 

  1. Phishing 
    Tricking people into clicking a link in an email message to gather their username and password. 
  1. Identity Theft 
    When your personal information is stolen and used to gain access to your finances. 
  1. Keylogging 
    A spyware activity that records keyboard activity in order to gain access to confidential information. 
  1. Pharming 
    An online scam that uses a malicious code that has been installed on a victim’s device to redirect them to a malicious website. 


How to stay safe while online banking 

  • Do not access online banking or perform transactions when you are connected to unsecured or public wi-fi. 
  • When accessing your bank’s website, check for the padlock icon to ensure that the site and your transactions are secure. 
  • When typing in your bank’s URL, check for spelling errors as malicious sites can be created with minor spelling errors in the web address. 
  • Only download verified official apps from your bank from the App Store or Google Play. 
  • Ensure that you use multi-factor authentication in addition to PINs and passwords when performing online banking transactions. 
  • When you receive an e-mail from your bank, check that the sender’s email address is an official email address. 
  • Always have the latest antivirus software installed on your computer and ensure that all your software are patched with latest security updates. 
  • Avoid selecting the option “Remember your computer” as it allows you to skip security questions that banks tend to ask. 
  • Make use of Virtual Private Network (VPN) so that your online activities will not be tracked.