Online banking is one of the resultant effects following the disruption by technology.
There are lots of mobile banking applications from the various financial institution in the country.
Meanwhile, when you take a look at the rate at which hackers operate, you feel anxious about using some of the mobile banking applications.
As mentioned earlier, one of the sectors that strongly felt the disruption posed by technology is the banking industry. We have seen a serious revolution in the banking sector.
The way banking was in the last decade isn’t the same as today. Banking is so simplified and easy today, but security still poses the biggest threat. We need to protect our financial details from hackers.
Nowadays, you just sit in your bedroom and make a huge transfer of funds in less than 3minutes to someone without necessarily visiting the bank. That’s resounding and remarkable, but security remains the key.
According to reliable reports, Nigerian Deposit Money Banks, DMBs, lost N2.19 billion to fraudsters through electronic channels in 2016 fiscal period
When using the mobile banking apps, your data stored on your device can be compromised or hacked via connections that are not safe, the same applies to when you visit a site that is not safe.
Hacking or stealing people’s information has been approached in a more sophisticated way by hackers. They adopt different strategies, such as
hijacking your Wi-Fi routers, spreading malware and steal data from connected devices.
To put simply, here are some of the things you should be doing to ensure that your financial details remain intact and free from compromise.
Don’t go Public: I see people carry out online banking transactions in a cyber cafe, this is bad. Avoid accessing your banking details using computers in the office, cyber cafe or somebody’s.
The truth is that public Wi-Fi is most likely prone to vulnerability. If you needed to carry out any transaction online, I recommend you download an app from a trusted source.
Antivirus: It is advisable to download, install and use good antivirus or anti-malware.
A good antivirus will detect any malware and get you notified. Sometimes, you log on to an e-commerce website to make purchases; it has to be safe.
Frequent Change of Password: Do password rotation, in other words, keep changing the password. This strategy keeps hackers on a continuous guess. Avoid sticking to one password for a long time.
Use Secured Browser: It is advisable to access banking from a sandboxed browser. Any website that has no SSL installed on it is not safe to carry out any monetary transaction
Ensure Complete Privacy: Do not reveal your banking details to your bank account manager, or any team member from your bank.
Sometimes, we received fraudulent text messages from hackers concerning our BVN. By the time, you give them attention. They tell you to send your bank details. You should be smart about this and just ignore.
Be Careful Online Transaction: Do not trust any bank website without going through the reviews or contacting them before doing any online transaction.
The e-commerce site is a practical example where you need to use your credit card to make purchases. At that point of payment, you are giving out your confidential information to the web, if you’re going to do that, it should be a website that is very much advanced in security.
The simple truth is that internet banking has brought tremendous significance. However, check where you’re erring and start doing the right thing. You don’t have to be a victim before doing the needful.
