8 Tips to Use Internet Banking Safely

Internet banking is on the rise mainly because it makes carrying out transactions convenient. Unfortunately, with this increase in adoption, there has also been an increase in hacker attacks. Here are the different ways in which you can enhance your internet baking security.

Avoid Email Sign-Ups for Banking Accounts

While most people have been aware of the potential dangers of phishing attacks, these attacks are still effective. This is because people who launch these attacks are increasingly using sophisticated techniques to enhance their effectiveness.

To avoid the risks of falling victim to such attacks, it is always advisable that you avoid clicking on any links that have anything to do with internet banking. For safety, always make sure that you manually type in your banking address every time you sign in to your account. Bookmarking the official site can help to make this process easier.

Use Secure Internet Connections

As a general rule, you should always avoid accessing your bank over public Wi-Fi. This is because these networks are insecure and they rarely feature the best security and privacy protections. Therefore, the risks of your traffic getting intercepted or getting spied on are high.

If you must access your account via networks that are generally considered unsafe, then it is advisable that you get an additional security layer. Using proxy servers, opting to secure your access with the Tor browser, or using a good VPN, are some of the ways through which you can boost your security. Therefore, you should avoid transacting over insecure networks, and if you can’t, taking advantage of services that provide an extra security blanket is advisable.

Two-Factor Authentication

Most banking establishments provide the option for multi-factor authentication. When you activate this option, in order to access your account, you will need to enter both your password and a code. This code is usually sent to your phone. This multi-faceted sign-up process makes it harder for hackers to gain access to your internet banking account.

Strong Passwords That Are Changed Regularly

When it comes to your banking account, you should always use strong passwords that contain letters, numbers, punctuation marks, and other unique characters. Such strong passwords are harder to guess. Even in cases where a hacker is using a script for brute force attacks, breaking into your account will be more of a challenge, something that might just be enough to deter them from trying. Making sure that you also change your banking password regularly will also help.

Genuine and Licensed Antivirus Software

In a bid to avoid paying for antivirus software, it is tempting to want to use cracked software. Some companies also offer free antivirus software that contains adware, and these programs can contain software that is designed to collect your details. Even in cases where the antivirus software is genuine, it may contain security vulnerabilities that hackers can potentially take advantage of.

To avoid exposing your computer, and your banking details, to these risks, it is always advisable that you only use genuine software that has been produced by companies that have a proven track record of creating good software. Also, staying away from cracked versions of good software is recommended. Given that you can try one of the best antivirus software by signing up for a free trial, there is no reason why you should assume the risks that such software poses.

Logging Out and Clearing Browser History

If you have no option but to use public Wi-Fi or devices that can be easily accessed, you need to make sure that you always log out and clear any details that may give malicious people a way to get your information. This is because these people can hijack your active banking session. Some even use scripts that can automatically take advantage of any active sessions on a cross-site basis.

Logging out of your banking out is an easy way of preventing such exploits. Doing so, in addition to clearing your search history, cookies, and any other information that your browser may have on your activity can go a long way towards enhancing your internet banking safety.

Subscribe To Banking Transaction Notifications

Most internet baking systems provide an option for users to receive alerts. These alerts range from account access alerts to withdrawal alerts. When it comes to internet banking, it is always advisable that you subscribe to as many alerts as you can. This includes maximizing the ways through which you can receive the alerts, that is, including both mobile and email alerts.

Doing so will ensure that you receive an instant notification as soon as anyone uses your account. This will come in handy in reducing the extent of damage that malicious people can do to your account. In cases where suspicious activity is detected early enough, it can even keep you from losing money.

Carry Out Regular System and App Updates

Hackers constantly try to find and exploit security vulnerabilities in software. Therefore, in order to ensure that their users are safe from hacker and malware attacks, software companies regularly update their software and apps. These updates come in the form of security updates or major updates.

If you are using a banking app to execute internet transactions, it is always advisable that you ensure that you update it as soon as an update is released. The same also applies to your computer’s operating system and any other applications that you are using on your computer. And if you don’t want to worry about missing updates, you should consider allowing automatic updates.

Making regular updates will ensure that you always have the latest in terms of access security. It will render any potential exploits useless, and this will go a long way towards securing your internet banking activities.

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