Online banking security problems
Fri 06 Jul 2018
There is a lot to like about on line banking, it’s extremely convenient as you can access your account from anywhere you are in the world. Online banks also offer better saving rates making you able to keep more money in your pocket. However underneath all these positive facts about online banking, lies the serious question, does online banking really provide a safe and secure place where we can store our bank details and other personal information?
Most people view it as a secure enough thing to use on a daily basis, but we can’t deny that there have been several security failures over the years. Those of us who use online banking have most likely become comfortable with things like online banking card readers and mobile payment methods. Part of that workflow is being made to use mobile apps developed by the bank branches themselves. The problem with this is that smartphones have security flaws which can make it extremely dangerous to conduct transactions using a mobile device. An example of this would be that fraudsters could use reverse engineering and mobile malware infections which make it entirely possible for a bank app to be compromised and to have your credentials stolen and intercepted or intercepted.
No matter how secure a banks system may be, it will never be perfect and there will always be someone who can override it and exploit a weakness. However there are a few things you can do to protect yourself. Online banking is great as long as you take proper measures for example using unique usernames and passwords, scanning for malware regularly and do not check accounts on public WI-FI as someone could be snooping around your connection to steal login credentials. Your safest bet is to check your bank account when you are in the safety of your own home.