Online Banking Guide
What can you do to protect your Online Banking?
1. If your bank does not provide Two-Factor authentication (token/key), consider switching to a bank which does.
2. Password Protection
a. Ensure your bank account password is a unique password to you. Using the same password with other websites such as Social Networking websites, Message Boards, Webmail and Job Recruitment Websites must be avoided at all costs. The bad guys hack these types of websites to specifically lift individual username and passwords for the purpose for trying against their online banking websites.
b. Change your password at least once a year, once a quarter is what I personally recommend.
c. Ensure your password is strong. By strong I mean use upper, lower case letters, at least one number, but most of all include at least one “special character”. By “special characters” I mean @, ”, $, %. However I know of one recently taken over Yorkshire based bank which actually prevents you from using special characters in your password!
3. Email Security
a. We all know about phishing Emails now, but it’s still a major problem and a favourite attack by deployed by cybercriminals to harvest online bank details. Phishing Emails are becoming more realistic and more specifically targeted. Unfortunately this attack still works, people are still suckered in by these Emails. So no matter how genuine an Email looks, never click on the links, a bank will (should) never request your accounts details or ask for you to login for any reason via an Email. Remember a phishing Email always prays on the emotion of greed (you won something) or fear (your account has been compromised, change your details).
b. Never send your bank details by Email, no matter what legitimate company or person requests it, be strong and always resist, just say no!
4. Ensure your Operating System is patched up to date, and you have Anti-Virus and Anti-Spyware applications running at all times, and make sure they are kept up to date
The bad guys like to deploy key logging malware onto unsuspecting user PCs, who then have not idea their key strokes are being recorded and sent on to fraudsters, key strokes including those bank account access details, namely the username and password.
5. Check your bank statements regularly
UK banks are getting better at detecting bank fraud but it’s far from perfect. Therefore it’s important you take responsibility and check through your statements regularly looking for fraudulent transactions. Pay particular attention to internet transactions and transfers out.
