Online Banking: Modern times require actions such as checking the available balance, paying billsand managing finances to be part of the user's daily life, and as is normal to be carried out while connected. As security problems often arise during online banking, ESET offers a good opportunity to learn about the basic principles for safer online banking transactions and payments, with the advice of Ondrej Kubovič, IT Security Specialist at ESET.
1. Use a trusted device. The first and most basic principle is that to log into online account, we must use a trusted device. Our own computer, tablet or smartphone is the best choice, as we are more likely to notice if there has been suspicious activity, or if the device is acting strangely, while it is good to avoid using borrowed or public devices.
2. Be careful where you connect. Not every internet connection is secure enough to use for online banking or payments. Public Wi-Fi at your favorite coffee shop or a random network available in the town square may not be the best options for checking your savings or paying bills. If you must use this type of connection, use a virtual private network (VPN) to keep your communication encrypted and therefore inaccessible to eavesdropping attempts.
3. Keep your computer up to date. Up-to-date systems and software close the gaps that hackers look for to infect your computer. To save time and maximize your protection, many programs offer automatic updates, checking for patches and new versions without requiring your attention.
4. Use a reliable and up-to-date solution . Before logging into your bank account or making any payment, it is essential to install a reliable, multi-layered and up-to-date security solution. This solution will protect you from many types of malware, as malware can be disguised as seemingly innocent emails or websites that trick you into revealing personal data.
5. Create a strong password and don’t reuse it. If you’re not sure what a secure password is, you can use this super easy quick guide to creating strong passwords. It’s equally important, however, not to reuse it, as using the same password for your bank, social media , and other accounts can lead to big problems if one of them is leaked. Alternatively, it’s very useful and easy to remember a passphrase .Let’s not forget, of course, the ability to use a password manager.
6. Use two-factor authentication. If your bank offers two-factor authentication (2FA), use it. This way, the bank can double-check that it’s really you logging in for a transaction, using something that only you have – like your smartphone. So even if your password ends up in the wrong hands, without the second verification it’s useless.
7. Beware of traps. Cybercriminals will do literally anything to extract sensitive information or data: they will pretend to be your bank, they will appear as an important notification, they will ask you to change your password via a link in the email you just received, and much more. If you get a message asking you to change your credentials or click on a link, double-check that it is authentic, and even better, contact the sender by phone for confirmation.
8. Use logout. Don't forget to log out of your account when you're finished with your transaction. It's harder for an attacker to harm you when you're not logged into your account.
9. alerts SMS. If you are one of those who checks online banking account once a month or even less, enable alerts on your phone. Having information about all current movements makes it much easier to recognize any suspicious activity.
