Most of us are familiar with our bank’s online and offline banking, but how safe is it? Banks spend a lot of money educating customers, ensuring the security is up to date. No matter how good the security is, or how much we trust them, there will be a vulnerability somewhere that a criminal isMost of us are familiar with our bank’s online and offline banking, but how safe is it?
Banks spend a lot of money educating customers, ensuring the security is up to date. No matter how good the security is, or how much we trust them, there will be a vulnerability somewhere that a criminal is just waiting to exploit. So how do we ensure we stay safe and secure?
Take sensible precautions
There are many things the average user can do to greatly reduce the likelihood that they will become a victim of theft. We must take some responsibility when trying to ensure our banking is safe. We can do this by taking simple steps to prevent criminals from taking advantage.
ATM common sense
There are many things you can do to try to minimize the risk of using an ATM. Always put the money away before leaving the machine. This helps to reduce the risk an opportunistic thief will grab it out your hands. If you want to count the money, leave the area before doing so. If there is a door to where the ATM is located make sure you close and lock it behind you. Try to use a machine in a well-lit area, preferably one that features CCTV. Even if you regularly use the same ATM, try to remain vigilant.
Be vigilant with your calls and e-mail
It’s also wise to never send any of your login details over e-mail. No genuine bank will ever ask for any of your security details over e-mail. The same applies to phone calls. Never discuss any private information with anyone that has called you.
Use a VPN
There’s one big thing people forget when asking: are online banks safe? Wi-fi has an inherent vulnerability. The fact data needs to be transferred wirelessly means it can be intercepted. The online banking fraud figures have been rising at an alarming rate over the last decade, and millions of people have been attacked through this vulnerability, known as ‘Krack’ (Key Reinstallation AttaCK).
If you use a VPN (Virtual Private Network) you take your security to the next level. It hides your identity and adds a level of encryption to the data transfers, which is even more crucial when using public wi-fi hotspots.
Check in regularly
If your details are ever compromised, the sooner you notice the better. Despite their best efforts, banks are still regularly subject to fraud. Forms can be forged and the average banking customer can fall prey to identity theft. Keeping a regular eye on your transactions and balance will raise the alarm if there are any transactions or changes you weren’t expecting.
Overall, banks and financial institutions do a good job of keeping our money and data safe, but no matter how much money they invest in security there will always be weaknesses because we are human and we make mistakes. Creating a secure routine you stick to when dealing with your bank will help ensure you stay secure.