Online Banking Fraud: Four actions to take before your next transaction

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By Our Reporter

It’s becoming increasingly easy to do almost everything on a phone; from banking, making purchases, attending classes and communicating with loved ones.

However, as we make these strides, fraudsters too are becoming increasingly tech-savvy using the latest tricks to manipulate internet users and steal their personal information—including banking details.

Always be alert and extremely vigilant of any unsolicited phone calls, text messages and emails from fraudsters. Don’t supply your personal and security information unless you are sure that it is safe to do so.

Additionally, you bank of will never ask you at any one moment to supply your personal identification number online. When the COVID19 hit the world, the most common cybercrimes have been financial targets on online banking applications.

The fraudsters also established fake news websites that claim to be tracking Covid 19 cases in real time hence attracting several unsuspecting users. Bankers say that never provide payment information on a website or call that you did not initiate.

According to Centenary Bank, here are a few tips to help you safeguard your devices against malware that could expose your banking data.

  1. Update your Operating system. Whether you’re using Android, iOS or Windows, using an updated operating system will help you keep out any potential threats. Your device will be at a higher risk if you are running an outdated system. If you are not sure how to update your system, turn on automatic updates or check your device user manual.
Be careful when using credit card online to make payments. Internet Photo

2. Install Anti-virus software. It doesn’t matter if you are using the latest device in 2020, you will be at a very high advantage if an anti-virus software can quickly detect malware as soon as it gets to your device. When spyware, malware or worms are on your phone or computer, they don’t just affect your device performance but put your personal information at risk as well.

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3. Avoid free or smaller applications. Are you the type that would rather download a 1MB Apk version of Facebook instead of a direct installation on PlayStore? You are at risk. These apps may contain files that are harmful to your device. Always install applications from trusted sources to minimize the risk.

4. Avoid suspicious links. Always avoid opening emails that contain links or attachments from sources you are not sure about. These sometimes contain phishing malware that can expose your data to fraudsters. Only click it, if you are absolutely sure it’s safe.

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