What are the threats around online banking?
Whether you are using your banking services to pay bills or just to transfer money, you have to be aware of the threats that exist online. These threats can come in the form of phishing scams, ATM skimmers, and fake SSL certificates.
Using online banking to access your money has become increasingly popular, as it gives you the ability to quickly check your balance and transfer money. However, scammers have found a number of ways to get into your accounts.
In order to make this happen, a scammer needs to know some of your personal information. They might have it already or they may learn it from a data breach. They may also use fear tactics. If you give them access to your account, they can access your money and your identity.
Phishing scams are one of the most common ways a criminal can get into your online banking account. They usually use text messages or emails to make their attempts to get your personal information. They may also try to spoof your phone number. Fortunately, there are a few steps you can take to protect yourself.
Among the major threats to online banking is ATM skimming. This scheme involves installing a device inside the ATM that records the PIN information of the users. This data is then used by the scam artist to generate fake cards and make fraudulent transactions.
Depending on the type of skimming device, fraudsters can create fake cards, cash out a compromised account, and make fraudulent online payments. This type of fraudulent activity can lead to a loss of significant amounts of money.
Among the most common ATM skimming devices are card reader overlays and hidden cameras. They fit over the card reader slot to record PIN information. Oftentimes, these devices are placed in tourist areas and other locations where the risk of detection is low.
When entering your PIN at an ATM, it is important to cover your hands. If your cards are stolen, you should report it to the credit card company and the Federal Trade Commission. Also, you can sign up for account alerts to learn about suspicious charges.
Fake SSL certificates
Whether you’re online shopping at popular ecommerce sites, banking online, or logging into social networking sites, a fake SSL certificate can be a threat. These fraudulent credentials allow attackers to read and decrypt encrypted traffic and may also be used for man-in-the-middle attacks.
Lookout recently posted a blog detailing a recent attack that targeted U.N. humanitarian organizations, a mobile-aware malware campaign, and the malware used in the attack. These are just a few of the examples of the types of threats that are on the rise.
A recent study found that 40 percent of mobile banking apps were vulnerable to man-in-the-middle (MITM) attacks. These attacks allow attackers to read and decrypt encrypted online traffic and can also leave the victim unaware of the attack.
The attackers were able to steal SSL certificates, allowing them to read encrypted traffic and access confidential information. This information could have been used to steal banking information from the victim. The hackers also used fraudulent certificates to impersonate Google, Apple iTunes, and the POP email server from GoDaddy.
Remote work in the banking sector
Having a remote work arrangement can have several benefits for the employer and the employee. The employee benefits include the ability to work at times that are convenient for them. The employer benefits include flexibility and productivity. This is especially true for small and medium-sized institutions, which may need more flexibility in order to meet their employees’ needs.
In addition, banks must consider the security of remote workers. Security concerns include preventing unauthorized access to sensitive information. Employees will need to ensure that their personal devices are managed by the institution. Banks must also ensure that their employees have access to corporate-issued devices. This may include personal computers and company-issued phones.
Adding an extra security measure to online accounts can help protect your personal information from hackers. However, two-factor authentication isn’t foolproof.
The best way to protect your accounts is to remove remote access privileges. This way, you don’t have to worry about hackers gaining access to your personal information.
One of the best methods of securing your online account is to enable two-factor authentication. This is an extra security measure that will help you to derail hackers’ plans. It’s also a step you can take to protect yourself against phishing emails.