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Banking Safely When You Bank Online

Take Control of Your Security

Most online banks go to extraneous measures to protect your privacy and keep your information secure. There are limits to what they can do, however, and there are ways that you can help their efforts.

• Select a complex password and keep it secret: Your password should be something that is easy for you to remember, but difficult for anyone else to guess. Birthdays, last names, and other common details of your life are not good candidates for passwords because they take little effort to figure out. Once you have selected a sufficiently complex code be sure to keep it secret. Do not share your code with anyone and if you suspect that someone know it, change it.
• Do not Get Hooked by a Phishing Expedition: Phishing is a strategy that thieves use to bait people into willingly passing over details about themselves and their accounts. Often phishing takes place in the form of an email that has been designed to look like a message from your bank. The email will ask you to confirm your security information and password, and may even direct you to a fake website that looks similar to that of your bank. By entering your information, you will be putting it directly in the hands of the thief. To keep yourself safe, do not ever respond to one of these emails without first calling your bank to confirm that they are the ones who sent it to you.
• Limit your use of public computers: banking and other sensitive online activities are best limited to your home computer. There are some technologies, such as keystroke recorders, that allow thieves to monitor what you are typing into a public keyboard. With the right motivation, this thief could then search for your passwords.

Your Computer is Your First Line of Defence

If you are banking online then it is likely that your computer is storing banking information. If accessed by the wrong people, this information could lead to identity theft. The first thing that you must do is ensure that your computer is secure and safe.

• Update your antivirus: Simply owning antivirus software is not enough. You must ensure that this software is up to date since new viruses and malware are developed daily. If your antivirus software does not update itself automatically, consider purchasing a new version that does. You should also ensure that your computer has been scanned recently and that it is clean from any viruses or malware that could already be present.
• Set up a firewall: A firewall works like a checkpoint between the internet and your computer. Essentially, it stands as a locked door, ensuring that no one obtains unauthorized admittance into your files. Without a firewall hackers from the internet can sneak in through backdoors and access your computer's hard drive and, consequently, your banking information. If you already have a firewall, ensure that it has been set to monitor the flow of information in both directions. This means that the firewall will work to prevent unauthorized information from being sent as well. It is a scary thought, but some malware will work behind the scenes on your computer and send your files home, without your knowledge.
• Back up your information: In addition to the threat of others gaining access to your computer files, computer banking without back ups can also create a situation were information is lost when a hard drive collapses. Back up your information regularly and keep the disks separate from your computer so that one will be secure in the event of a fire or other destructive disaster.
  

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