With more and more users adopting Internet banking and with many banks also introducing mobile banking, online banking has gained in popularity and acceptance in Indonesia. However, given the significant challenges posed by cyber crime, it is important that we take appropriate security measures to ensure a safe and seamless Internet banking experience. Here, we’ve tried to put together a few tips to help you out:
Internet Banking Security Measures
▪ Use the right and secure website. Such websites will begin with “https” and will display a closed padlock icon on the status bar of the browser. Beware of “look-alikes” that use a very similar URL or website name.
▪ Be alert to phishing emails – they have the same look and feel as the emails sent by your bank but redirect you to an URL that is not your bank’s.
▪ Keep your login Id and password confidential, use hard-to-guess passwords and regularly change your passwords.
▪ Use a reputable anti-virus program or “firewall” that will protect your computer or mobile from viruses and other malicious programs.
▪ Remember to log-off by clicking on the Sign Off or Log Out buttons and clear the memory cache once your transaction has been completed.
Mobile Banking Security Measures
▪ Keep your device protected. Use the latest security updates and a strong anti-virus software. Also enable screen lock and password protection on your mobile to prevent unauthorised access.
▪ Keep your PIN safe. Do not store your Internet banking username and password and your mobile banking PIN on your mobile. Do not disclose such information to anyone including to purported callers and SMSers from the bank.
▪ Use only trusted Wi-Fi networks and security providers and whenever possible use Wi-Fi security measures like the Wi-Fi Protected Access (WPA).
▪ Download your mobile banking app only from the location specified by your bank. If you are using other apps on your phone, download and use only those apps from trusted sources. And, make sure you go through the app’s data sharing and terms of usage policy.
▪ When you are accessing your bank’s mobile website, type in the website address to avoid going to similar-sounding fraudulent websites. Use default browsers provided with the mobile or download browsers from the most trusted sources only.
General Banking Security Measures
▪ Sign up for transaction alert services; many banks provide such alerts both through SMS and via email. It will help you get on top of any possible fraud fast.
▪ If you are a credit card user make it a point to check your card and card statements and compare it against receipts and transaction stubs.
▪ Shop online at reputable merchants; use prepaid cards (they can be easily generated online for short-term, online use) for online shopping and use security verification systems like Verified by Visa or Mastercard SecureCode.
▪ Make security a habit whether you are using a public or private mobile/computer over a public network and you can be reasonably sure of the safety of your transaction.
Despite all your efforts if you think you are a victim of online fraud, report it to your bank immediately and take steps to register a police complaint as soon as possible.