All online banking services provide encryption services using Secured Sockets Layer (SSL) and password protection online bank accounts. However, even with the best banking security, account customers still find their accounts hacked. Some people have thousands of dollars withdrawn from the account. These tips help secure your online bank account and avoid online banking fraud.
Internet Banking Security and Phishing Emails
One of the biggest security holes in online bank accounts is fraud due to phishing emails. Phishing emails look like legitimate correspondence from your banking institution. A phishing email attempts to scam the reader into typing the online bank checking account user name and password by providing a link that harvests private information. The link in the email goes to a fake online banking website, and the user name and password is used to gain access to an otherwise safe and secure bank account page.
The Best Online Banks Require Strong Password Protection
Online banking security includes difficult passwords. This means you do not use any private information or a simple dictionary word as your password value. The best online banks require strong passwords, which means they should have alphanumeric values with special characters. There should also be a minimum length. When you open a bank account online, the banking software asks for a configured password. Online sign up for an online bank account that has password protection rules to make it more difficult for strangers to access the account.
Online Banking Services and Other Personal Accounts
Some people create the same passwords for all online activities. This is a mistake. Using the same password across all online sites means your online bank account is more susceptible to successful hack attempts. For instance, if you use the same online bank account password as one used on a site that does not encrypt passwords and that site is hacked, the hacker now has your password. This password can be used to phish for your bank account details, email account access or other online websites. The increase of susceptibility increases if you use the same account name and password across all websites.
Online Internet Banking and Web Browser Security
Older web browsers such as Internet Explorer 6 (IE 6) are more susceptible to hacks and security breaches. Always keep the computer’s web browser up-to-date. Web browser security also includes updating the latest Windows update patch. Newer Windows operating systems including Windows XP, Windows 7 and Vista have an update service that downloads and installs the latest patches, protecting your computer from security hacks.