How To Keep Your Bank Account Safe & Secure

Over a decade ago, people were very wary when it came to online banking, due to the fear of becoming prey to fraudsters and the threat of having your bank account hacked.Nowadays, almost all bank provides their customers with the latest technologies like 32-bit encryption, verification through one-time password (OTP), SSL certification, verification based on geo location, and 2-step verification, to provide safe fund transfer modes on your fingertips.Although banks provide encryptions and security, hacking incidents are becoming even more common. This article is focused on how to know if your bank account is hacked and the measure you can take against it.

How to know if you are hacked?

Unusual purchase of large amounts from your account which you did not make, warning about suspicious login attempt, notification or link for generating new password can be a sign that you might have been hacked. If you notice such activities from your account or credit/debit cards, immediately get your card blocked and inform your bank to cancel all the payments.

How to keep yourself protected from online hackers and banking fraud?

We will discuss three type of transactions prone to hacking and measures to prevent them from occurring: Credit and Debit Card Payment, Online or Mobile Payment, and Telephone Queries.

Card Payments

Never write down your card pin on a piece of paper or anywhere where it can be discoveredCheck the ATM machines before using your card at any ATM. The fraudster might insert a camera over the keypad and RFID reader to capture your pin and your card detailsAlways enter your PIN yourself whenever using your cards at restaurants or petrol pumps.Never give your PIN to a store manager, restaurant waiter or anyone at any other place. When making your payment, always cover the keypad as you enter your PIN.

Online/Mobile Banking

Change your password regularly, such as your internet banking passwords, credit and debit card PIN numbers, etc.Keep your passwords complex. Use the special characters and case-sensitive words to increase the password strength.Avoid auto-saving your login details on your internet browsers. Your customer ID and passwords can be hacked via cookies.Frequently delete cookies from your browser. Malware and Trojans can get inserted through these cookies especially from the temporary files.Always use secured portals for making a transaction. Never share your bank details or account details with a website which operate through HTTP. Make sure it says HTTPS i.e. the page is encrypted and the transaction is secured.When changing your mobile phone or your PC, always format it or reset it to the factory settings

Telephone Queries

Often times, fraud callers impersonating as bank employees ask your personal details. Never share your personal details on such calls. If they are offering something, collect the details and tell them you will apply to the bank.

To keep you bank account secured, always use your account credentials to transact with trusted merchants and websites only. Don’t reveal your card details, pin account number etc. on fishy calls. Never share OTP with anyone, because banks will never ask OTP from their customers. Follow the above steps and yourself and your family protected.