Security in electronic banking
As we have already mentioned, e-banking is very convenient but requires special care. This section discusses in depth how to use electronic banking safely. For more information on cyber security, see Module 5.
Protecting your login details and passwords
Strong passwords: passwords
Password should be long and contain upper and lower case letters, numbers and special characters. Avoid easy-to-guess combinations
PINs for cards and applications
Never write them down on a piece of paper and give them to anyone, not even a bank employee
Two-factor authentication
Logging in to your account often requires not only a password, but also additional confirmation, e.g. via an SMS code or an in-app notification
Identifying fraud
Fake e-mails and text messages
Fraudsters impersonate banks, asking for login details, card number or PIN. The bank never asks for this!
Fake websites
Always check the address of the bank’s website in the browser bar. It should start with https:// and have a padlock symbol. Fake websites can look identical to the original ones
Phone calls from fraudsters
Fraudsters call claiming to be from your bank to trick you into giving them your details. The bank will not ask you over the phone to install software, provide a password or PIN.
Using devices safely
Public Wi-Fi
Do not use online banking on unsecured Wi-Fi networks (e.g. in cafes) as hackers can intercept your data
Updates
Update the software on your computer and smartphone regularly. Updates include important security patches
Antivirus software
Install antivirus software and keep it updated