Posted on July 13, 2017 at 4:28 PM

Easy Tips To Prevent E-Banking Fraud

No wonder about it how convenient e-banking is for all of us. But this should come as no surprise; it is even more convenient for all the frauds out there. It’s because cyber criminals do not need to risk them as real time snatchers do, having guns and looting the people’s valuables. Comparatively, all they need to do is to just crack the password of your online account and get started with transferring all your money in their account. To that end, here we are to help you out with several easy tips to prevent e-banking fraud.

Tips To Prevent E-Banking Fraud:

“WE ARE VULNERABLE IN THE MILITARY AND OUR GOVERNMENTS, BUT I THINK WE’RE MOST VULNERABLE TO CYBER ATTACKS COMMERCIALLY. THIS CHALLENGE IS GOING TO SIGNIFICANTLY INCREASE. IT’S NOT GOING TO GO AWAY.”

-Michael Mullen

Have a close look at each of the following tips to ensure your e-banking security.

Keep A Strong Password:

Since a password is the most crucial thing to save. If the cybercriminal successfully could crack your e-banking account password, then what they would do, will be certainly irreversible. So, keeping a strong and unique password the most important tip to prevent e-banking fraud. Think about it, how you can make your password strong! Firstly, be sure not to set any password that depicts your life event or anything that describes your life. Secondly, try to think out a long password, because longer is harder to guess. And lastly, try to mix up alphabets with numerics and other special characters.

Change Your Password Often:

Changing your password routinely will prevent your password from getting cracked. This way you can also feel satisfied with the safety of your password. But be sure not to forget your password!

Beware Of Trojan:

Trojan is known to be an internet virus that gets installed in your system while downloading any software via unsecured websites. This virus tends to monitor all your internet activity and steals the sensitive information like the password of your e-banking account. So, always beware of Trojan and avoid downloading anything from an untrusted site.

Don’t Fall Victim For Phishing:

Phishing scams have become very common these days. Sometimes they lead to the next level of cyber crime that is ransomware. And mostly it works by sending a bulk of random emails and waiting for the prey to get trapped. These emails have links that redirect the user to a website asking for their financial credentials. If the user provided that, it would cause him to lose the money in his online account. So simply stated, never click the links in the emails from an unknown source in order to protect e-banking fraud.

Don’t Use Public Wifi For E-Banking:

Subsequently, public WiFi is not safe because it hikes up the risk of hacking and intrusion in the system that can end up with losing your financial details. Moreover, hackers sometimes fake Wifi connections to trap the users. So, avoid making the online transaction while using free public Wifis to prevent e-banking fraud.

Use Genuine Anti-Virus Software:

Inevitably, Anti-virus software is a real time saver! But it should be the genuine one. It is because there are tons of Anti-virus software in the market, claiming to provide 100% security. However, not every anti-virus fulfills their promise. Thus, go for a reputed and reliable anti-virus to feel protected and prevent e-banking fraud.

Activate Mobile Notification:

This tip can save you big time; it is because if somehow you caught into the net and any cyber crook made the transaction from your account. And also set a limit for each transaction so that if any suspicious transaction made, you would get notified. This way, you can take the immediate option and save rest of your money.

Https Only:

Https site is considered as the most secure websites that use https connection. These websites do not preserve your logs and remove cookies once you are done with the site. So, make sure your bank account’s website has https protocol so as not to lose your financial information via unsecured websites.

Use a VPN:

Last but not the least, VPN software is among the leading cyber security suites that work by encrypting your network connection. This strong end-to-end encryption is almost impossible for any crook to intercept and make his ways to your sensitive information and then your financial account. Therefore, using a VPN is a wise way to protect your e-banking details from being vulnerable to hackers.

Regularly Go Through Your Bank Statement:

Checking your bank statement once in awhile would keep you informed of all the transactions made from the account. This would enable you to keep a check whether or not all the transactions belong to you. If not, then you can take action on time before it gets too late.

Conclusion- Prevent E-Banking Fraud:

You see, it is always better to be safe than sorry. So, use e-banking carefully and try as much as you can to follow all the above-mentioned easy tips if you want to prevent e-banking fraud. Alarmingly, cyber crooks are smarter than you think, in fact, they are getting more and more with the time. Thus, it is safer to play your part and make your e-banking experience safe with the tips we came up with.