bankingciooutlook

Three Ways to Secure Online Banking Information

Banking CIO Outlook | Friday, June 11, 2021

Phishing is one of the most popular ways for identity thieves to steal personal and financial details. This type of con typically involves duping you into handing over your personal information.

Fremont, CA: Online and mobile banking make managing finances easy and convenient. There’s just one big concern to keep in mind when banking online: security.

Concerns over online banking security are something to take seriously. After all, you work hard for your money, and protecting it is priority number one. Banks rely on various security measures, such as 128-bit or 256-bit data encryption, to protect their customers.

Here are three ways to secure online banking:

Be Wary of Phishing Scams

Phishing is one of the most popular ways for identity thieves to steal personal and financial details. This type of con typically involves duping you into handing over your personal information.

Check the email’s sender address. Then, rather than clicking on links, hover over them to see where the link text takes you. If you receive an email from your bank requesting information, contact your nearest branch or customer service to confirm that the request is genuine before providing any information.

The same is true if your bank or someone else calls you and asks for your banking details. If you get a call like this, hang up and call the number back, or do a Google search for the number to make sure it’s legitimate. This is a simple way to see if the call is legitimate.

Choose Wisely When Downloading Financial Apps

Financial applications, including mobile banking apps, will assist you with anything from banking to bill payment to money transfer to shopping. In the security department, though, they are not all made equal.

The first step in using mobile apps to the bank is to make sure you’re using the bank’s official app. The next move is to be cautious about who you give access to your online and mobile banking information.

Sign Up for Banking Alerts

One of the simplest ways to stay on top of your banking activity and track security is to use banking alerts and reminders. You will be able to participate in email or text updates to receive messages, depending on how your bank runs.

Notifications for new credit and debit purchases, failed login warnings, password update alerts, and outgoing wire transfer alerts are all examples of alerts you would want to set up. Notifications will also help if your account is hacked and a fraudulent transaction is made. You can immediately alert your bank if your online banking credentials have been compromised to avoid fraudulent activity.

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