Online banks mostly have a set of rules and regulations for online dealing which they explain prominently on their website. Since customer data security is of utmost importance, online banks prefer direct-modem connection over the internet which is easily accessible and hence unsafe. If the latter is the case very capable computer geniuses use encryption codes with high end algorithms such that your data cannot be accessed (hacked) by anyone other than the intended user. Other safety measures for online transactions include: providing your password and PIN (personal identification number). Both can be changed as many times as you like and also you need to be sure the security is operating properly e.g. on internet browser you will see a padlock symbol which reads "SSL Secured (128 bit)". This SSL protocol ensures a high security level of the encrypted kind between your web browser and the bank's server. Finally, you need to keep your eyes open to see the address bar and make sure the bank URL reads (https: ) instead of (http: ); the extra 's' is proof of a secure connection.
There are instances when online banking isn't so safe. Hackers are always on the prowl around the main banking system. Secondly, those cute little hyper links urging you to 'click' do NOT take you to your bank's site, but somewhere else totally. Thirdly, you need to be cautious of 'spyware' a by-product of software installed online- which collects your information and transfers it for corrupt advertising purpose. Fourthly, employee theft cannot be ignored. There is not much you can do here as you are prone to this risk even when paying your restaurant bills.
The good news if you like to educate yourself and get protection against online transactional risks you can do the following things.
-Do not respond to amateurish looking emails, (seemingly) from your bank, , to give out your account details.
-In case virus has already crept in your system through spyware or adware, you need to get virus doctors (software) to undo the harm.
-Besides the financial institution is having a firewall and you can opt for one too so that it monitors all dealings on your internet connection.
-Installing ant-virus software checks your internet files beforehand and issue warning in case of malware when you are downloading.
-Never tick the option of password storage on Windows as this makes access easy to your account on a shared computer.
-Do not use PCs at unknown places like internet cafes or even friend's place.
-Don't use very common words like your name, sir name, or DOB as password.
In any case just be on your toes and keep your eyes open to any news in circulation about online transaction safety.
There are instances when online banking isn't so safe. Hackers are always on the prowl around the main banking system. Secondly, those cute little hyper links urging you to 'click' do NOT take you to your bank's site, but somewhere else totally. Thirdly, you need to be cautious of 'spyware' a by-product of software installed online- which collects your information and transfers it for corrupt advertising purpose. Fourthly, employee theft cannot be ignored. There is not much you can do here as you are prone to this risk even when paying your restaurant bills.
The good news if you like to educate yourself and get protection against online transactional risks you can do the following things.
-Do not respond to amateurish looking emails, (seemingly) from your bank, , to give out your account details.
-In case virus has already crept in your system through spyware or adware, you need to get virus doctors (software) to undo the harm.
-Besides the financial institution is having a firewall and you can opt for one too so that it monitors all dealings on your internet connection.
-Installing ant-virus software checks your internet files beforehand and issue warning in case of malware when you are downloading.
-Never tick the option of password storage on Windows as this makes access easy to your account on a shared computer.
-Do not use PCs at unknown places like internet cafes or even friend's place.
-Don't use very common words like your name, sir name, or DOB as password.
In any case just be on your toes and keep your eyes open to any news in circulation about online transaction safety.
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