Safety with E24|7: Banking online

We all do online banking, mostly because it’s convenient. But, we often fail to realise the risks involved if we don't take adequate steps to secure our accounts.

So, we look at some steps that you can take to ensure you are aware of the threats online, and how to stay protected.

Many experts warn of phishing e-mails that request you to enter login details on a website, or phishing phone calls that ask you to reveal your login details to overcome a 'problem'.

Here are some top tips, sourced from online experts around the world.

Never share your password

Never disclose passwords or other personal information through email, phone call or letter. You must remember that banks will never send you e-mails asking you to divulge such information.

Check your internet

Always ensure you are using a secure internet connection when logging on to your bank. Never use free public Wi-Fi, or public computers to do so, as this may not be secure.

Ensure you have updated your antivirus/antispyware software and firewall and ensure they are running before you log in.

Always use strong passwords and PINs

As tough it may be, try and keep different passwords and PINs for each website. And, never write them down. It's important you change your password often, to keep your account protected. Always create a strong password, and avoid using your name or date of birth in it.

Keep a tab on your accounts

Ensure you have your mobile phone alerts, and always check your statements. If you notice any unusual transactions, report them immediately to your bank. Some experts say the it’s better to have mobile alerts rather than paper statements, as these can be “easily intercepted and read”.

Sign up for ‘two-factor authentication’

When signing up, opt for two-level authentication, over simply using passwords. It’s called “two-factor authentication” because it’s something you already know (like your username and password) and something that’s sent to you, possibly generated to your mobile device. These are exclusive to every time it’s generated.

Additional security software

Experts say some banks are looking at offering additional security software for their online customers. This will be additional to your internet security software.

Never share your account details through e-mails

No bank will ask your account details via e-mail, so never provide your personal or details. So, if you receive any e-mail that appears to be from your bank, treat it with suspicion. Always check with the bank.

Always log out when you are done

You must always log out of your online banking account, and this will reduce the chances of being hijacked by hackers. You must also clear your browser's cache after each session, just to be doubly secure.

Shop online, only where secure ordering is allowed

When you make purchases online, always check if the shopping website uses a secure server before handing out your credit card details. If the web address starts with "https://" then the site is secure.

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