Online Banking Security

In current digital times, online/internet/web banking is a service that offers customers access to banking services at the click of a button. It facilitates and enables customers to perform a wide range of financial transactions comfortably at their convenience from anywhere at any time.

In current digital times, online/internet/web banking is a service that offers customers access to banking services at the click of a button.

 It has many benefits like -

• Offers easy access round the clock, convenience and saves time.
• Offers banking services on the go through mobile banking app service.
• Monitor accounts, pay bills, transfer funds, view  and download statements etc.,

Online banking  service offers customers access to banking services at the click of a button and facilitates customers to perform a range of financial transactions at their own convenience.

Online banking is prone to security threats, as cyber fraudsters try to come up with new ways to defraud digital users for financial gains.

Some very common online banking related threats include:  

Phishing, Vishing, Smishing 

Online banking enables customers of banks to perform a range of financial transactions comfortably at their convenience from anywhere at any time.

However, while utilizing its benefits, the digital users also need to be aware about possible threats and the means through which these threats can be encountered by them in the real world. This awareness is necessary to enable them to be alert and be prepared to effectively counter them with necessary security measures.

Online banking offers easy access round the clock, convenience and saves time, it offers  banking services on the go.

However, while making use of online banking services, the digital users also need to be aware about possible threats and the ways and means in which these threats can be encountered by them in the real world. This will safeguard them from possible phishing, vishing & smishing attacks.

Digital users should be aware of the dos and don'ts and should practice them, while making use of online banking services.

While making use of online banking services, the digital users also need to be aware about possible threats and the ways to encounter these threats.

There are some indicators that serve as warning signs or identifying factors for indicating a possible attempt of fraud. Some of the warning signs for identifying a phishing attack include - 

• Grammatical and spelling errors in the emails and text messages
• Use web addresses that resemble the names of well-known companies but are slightly altered or misspelled.
• Creating a false impression of urgency to act immediately. etc.,

While making use of online banking services, the digital users also need to be aware about possible threats and the action steps that need to be initiated in case they find themselves victims of phishing/vishing/smishing attack. 

Users should initiate certain steps immediately, to minimize any damage in case they have responded to a phishing/vishing/smishing scam with personal or financial information.  These steps include-

• Change the passwords or PINs of all online accounts that could be compromised.
• Contact the bank and report the incident.
• Block the card or freeze the account etc.,