Internet banking: 10 things you should never do

Internet banking has become almost an integral part of most of our lives. Many of us may not even remember our last visit to a bank’s branch. But sadly with the rise of internet baking, the crimes related to it too have risen. It is no longer rare to find cybercriminals emptying bank accounts using security loopholes. In fact as the digital payments rise, criminals are constantly devising new ways to bypass security measures and steal money from internet banking users. However, there are some simple tips that can go a long way in ensuring that you don’t become the next victim of such hacking/cybercrime attack. Here are 10 must-dos to follow while using your internet banking account.

1. Never use internet banking in public Wi-Fi network

Never-ever (unless extremely essential) access internet banking on shared or unprotected Wi-Fi. It is a strict no, both on computer as well smartphone and other mobile devices. Also, avoid making any payments using your debit or credit cards from public-Wi-Fi network. Such Wi-Fi networks are prone to hacking and other cyberattacks.

2. Change your password regularly

Another simplest of the security tip is changing your password regularly. And always keep a strong password. Best way to have a strong password is to have a mix of upper and lower-case letters with numbers and special characters. Strictly abstain from using your name or those of your spouse or child. Using date of birth is another big no-no. Also, if you have several bank accounts, never use the same password for all of them.

3. Never sign-in to your net-banking account via e-mailers

Signing into your net-banking account via mailer can be sure-shot way of falling into a trap. The e-mailer can be a phising mail aimed at making your share your confidential information. Most of these mailers look exactly like actual mailers and the websites they lead to, too are likely to be an exact replica of your bank’s website (so be wary). The links given in such mailers too are likely to be malware-ridden.

4. Always look for ‘s’ in the url, ‘https’

Always check the address bar, the URL of the website you login to. Always check that it begins with ‘https’, ‘s’ being the key security layer here. This ensures that you are logging into an encrypted website.

5. Never forget to log out once you are done

Another important tip is to always log-out once the transaction is complete. As it saves you to a large extent from falling prey to hacking attacks like session hijacking and cross-site scripting exploits. It is also advisable to clear your browser cache once post the transaction.

6. Always use bank’s official app for mobile banking

For mobile banking, it is highly advisable to use only the bank’s official app, this means the app provided by the bank. Also, always download the app only from official app stores like Apple’s App Store or Google’s Play Store. Strictly, avoid ‘aggregator’ apps that may claim to provide you a consolidate account views across banks. Such apps may be dangerous and malware-ridden.

7. Always keep your PC’s anti-virus updated

This is basic and critical — always keep your PC’s anti-virus updated. Though this surely not 100% protection, but it still goes a long way in safeguarding all your online transactions.

8. Never use public or shared computers to access your account

Just like public-Wi-Fi networks, another big no for using internet banking are public or shared computers. As there are strong chances that these computers are unprotected and may also malware in them. There’s also a risk of keyloggers which too can save all the information that you add. Also, never leave your PC unattended while doing a transaction.

9. Always look for padlock during transactions

Just like ‘hhtps’ in the url, another thing that you need to look for is the padlock. Always look for the padlock icon at the upper or bottom right corner of the webpage during transactions. A closed lock or padlock shows that the website that you are using is secure.

10. Do not transfer funds to or share your account details with unknown/non-validated source

Another big danger can be transfering funds to or sharing your account details with unknown/non-validated sources. Cybercriminals often send mails luring innocent poeople with commission or attractive offers and ask them to transfer money. This may also result in you ending up becoming a money mule.