Prevent Internet Banking Fraud

There is probably a time that you, a friend, or a family member has become a victim of internet banking fraud. In today’s world where technology and the internet are booming, it’s not impossible to become prey. With this circumstance, you need to learn how to prevent fraudulent activity from happening. Understand the ways to keep you away from internet banking fraud while performing your transactions online.


Deliberate Compromise – Some people deliberately give out their internet banking details and cards to individuals they truly trust. The sole purpose of this is to provide trusted people with authority to carry out transactions on their behalf. But what seems to be the problem in this method is the other person’s capability of handling fraudulent scenarios. That is because not everyone is proactive or security conscious as others are. With this unfortunate condition, the best way to protect the account and card details is never to disclose it to anyone. Whether it is your close friend or someone in your family, never try to give out information that might get used to accessing the bank details and transactions.

Scam Email Of Added Beneficiary – Scam emails of the added beneficiary are common nowadays in internet banking. It is where the customer gets a fraudulent email saying that a new recipient appears to be part of his internet banking profile. The email contains a link that advice the customer to delete the beneficiary provided the suggested person is not one of his choices. With that click bait, it becomes a logical reaction to open the link and then start to fill out the details to delete the wrongly added name of the beneficiary. One way to stay away from this fraudulent process is to ALWAYS PUT IN MIND that no banks will ever ask you to fill out any desirable-looking applications without personal confrontation. No banks will ask for an update on your personal information and require you to provide pin codes and passwords, except the ones you already registered on their website. So never follow any purported links that direct you to any sites. Also, always make it a habit to visit the bank for confirmation regarding the information it requires you to give.


Scam Email Of Impersonation – Usually, scam email of impersonation starts by asking a person to visit a fraudulent shopping site or other store websites that looks normal. The site will request information such as your name, shipping address, phone number, email address, as well as bank card details. The fraudsters usually pretend to be someone from merchandising companies or card services that require codes to access most of their victim’s transactions. In this process, these individuals call their customers to ask for their token system codes for them to conclude the fraudulent act. So once again, this method is something that the bank will never do. The bank will never ask a customer to fill in additional details in the customer’s online account, mainly if it is something related to pin codes and one-time passwords. Though it may seem convincing because you encounter a personal conversation with someone, you need to double check the credibility of the person on the other line. Allow yourself to ask for the caller/ email sender and never give what he or she wants without the personal appearance in the bank.

Card Usage On Unsecured Websites – You have to bear in mind that your bank details can easily get compromised if you visit an unsecured website on the internet. Regardless of what the particulars it may ask, you have to be cautious in putting up personal information that leads fraudsters to access your bank account. It is understandable that this may seem to be a tough security battle because hackers and experts continually build websites that resemble genuine ones. But never worry because one of the best ways to instantly identify that a site is safe from fraudulent activity is to ensure that the address bar contains a padlock symbol and followed by an address that starts with “HTTPS.”


Mishandling Of Log-In Details – One of the most noteworthy thing that you have to remember is never to write log-in details where it can easily get accessed by someone. Since people are fond of using anniversaries and birthdays as their pin codes and password, this habit has to stop. Always create a password that you can commit to memorizing. It doesn’t have to be complicated or too simple, as long as it is anything that anyone can hardly guess. Ensure that your bank details are always in your custody and never allow other people to safeguard it for you.

In conclusion, these tips and guidelines are pretty much easy to understand. However, don’t underestimate the fraudsters’ capability of tracking, accessing, and getting bank information from you.

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