KATHMANDU: Online banking has made managing money easier than it has ever been. We don't have to go to the bank to transfer funds or wait for our next paper statement to see how much money we have. All of this information is available to us. While online banking has simplified our lives, it has also simplified the lives of thieves.
Criminals no longer need to plan a heist to rob someone's bank account. They can either wait for you to let down your guard and provide your personal information, or they can send out a virus that collects the information. You may prevent being a thief's next victim by properly safeguarding your personal information and following these online banking safety suggestions.
1. Don't use public Wi-Fi to access your financial accounts
Hackers can more easily access your computer and steal personal information when you're using public Wi-Fi. Unless you're on a secure Wi-Fi network with a password or using your own cell phone data connection, you should never access your bank's website using a computer, tablet, or mobile phone. Thieves will have a much harder time hacking this, therefore your information will be safer.
2. Save your login information as little as possible
Some websites let you save your login details for later use, but if someone else uses your computer or mobile device after you, they could gain access to your bank accounts. To help avoid this, many banking sites now time out after a certain number of minutes of inactivity and do not save your information.
3. Use strong passwords and change them often
Passwords with a mix of upper and lowercase characters, digits, and symbols are considered strong. Many banks now demand that you use a password that meets these criteria for your online accounts. You should also update your password every few months and use different passwords for all of your online accounts to make it more difficult for hackers to obtain access to your data.
4. Use two-factor authentication whenever possible
Many banks are now offering two-factor authentication as the next level of protection. When you log in online, you usually provide your bank your phone number, and it SMS you a code. You can also request a code via email or phone call from some banks. To log in, you must enter this code in addition to your password. This way, even if your password is compromised, no one can access your account. It's an extra step, but it could help keep your money safe, so if your bank offers it, take advantage of it.
5. Always keep your PC up to date
Computers and mobile devices that are more than ten years old may not be secure enough to protect your personal and financial information from the latest computer viruses. A hacker could acquire access to your bank accounts without you knowing until your money is gone if your computer is infected with a virus. Always apply suggested updates to your computer as soon as they become available, and make sure you have antivirus software installed.
6. Always type the web address of your bank into your browser yourself
Hackers send "phishing" emails that look like they're from your bank. They're hoping you'll use their false version of the bank's website to submit your login details. Even if they appear to be from your bank, never click on links in emails that purport to be from them. Instead, manually type the bank's online address into the URL box or use a search engine to locate the appropriate web page. You can bookmark the right page for later use.
7. Monitor your account regularly
Following the steps outlined above should help to prevent outsiders out of your bank account. The only way to be certain is to check your account balances and transaction history on a frequent basis to ensure that your money isn't going somewhere it shouldn't. If you observe any strange activity, reset your account password as soon as possible and inform your bank.
Although most of these rules should be self-evident, you should never let your guard down. It's your money on the line, and you might not be able to get it back after it's gone. If you haven't updated your computer software, set two-factor authentication, or changed your bank account password in a while, now is the time to do it.
