Online banking security tips , dos and don’t , avoid email phishing and fraudsters

Online banking is one of the core technology advancement nowadays, more and more users are getting attracted to this facility every day. Even though online banking provides many benefits if it is used without at most care , it can turn to be a disaster. Following points need to be taken care while you respond to any emails and deal with your online banking transactions.   All technologies have associated risks which can be avoided or reduced by using it in a careful and sensible manner.

While responding to emails

• Banks will never ask for any confidential information such as password, customer ID, Credit Card number or PIN, CVV, DOB, and so on over an email
• A phishing email will normally have a tone of urgency – like “Your account will be temporarily suspended” and therefore please “Login to keep your account active.”
• Please remember the bank will NEVER send such emails to its customers.
• If you are doubtful about the credibility of the email, please DO NOT click on any link provided in the email. This may trigger malicious codes being installed on your PC.
• Before you share any information on a website in response to an email, always assure that the URL shown in the email matches the URL of the bank website. If it does not, you have valid reason to suspect there’s something fishy.
• Check for the security pad lock icon at the bottom right side of the webpage, when you are connected to the NetBanking site.

Ensure your Personal Computer is protected:

Fraudsters send genuine-looking emails that contain viruses and Trojans (A Trojan refers to a program that appears to be safe, but hidden inside, is usually something harmful, probably a virus). These viruses / Trojans, install a malicious code on your PC without your knowledge. They extract your confidential information that fraudsters use to access your bank account.

Here are a few important action points that you should bear in mind:

• Keep your PC updated with the latest anti-virus / anti-spyware software
• Install a personal firewall on your PC to protect your account
• Keep your PC updated with the latest security patches and, most importantly,
• Do not click on links or open attachments in unknown or unsolicited (spam) emails
• Do not to make purchases on unknown sites or sites whose credentials are doubtful

DO NOT transfer funds to OR share your account details with, unknown / non-validated sources:

Many phishing fraudsters are located overseas. They need a Money Mule to route the money into their country of origin. A Money Mule is someone who receives the illegal funds into his account, withdraws it and sends it to the fraudster after keeping his commission. This may be easy money, but is illegal. Such requests could come to you through emails, advertisements on genuine recruitment web sites, instant messaging / SMS, and advertisements in newspapers and even on social networking websites.

Follow these Dos and Don’ts:

• Do not be conned by emails offering you a chance to make ‘easy money’, especially if it is coming from overseas
• Check out the company making you a job offer if any fund transfer to them is involved. Check their contact details to find out if they are genuine
• NEVER share your bank details
• Beware of ads / notices seeking ‘UK Representatives’ or ‘Agents’ to act on their behalf for a period of time

Tags: hdfc, tips