Is it save to bank online

Online banks mostly have a set of rules and regulations for online dealing which they explain prominently on their website. To ensure safety of your data, online banks usually go for the direct-modem connection rather than the open access internet. If the latter is the case, very capable computer geniuses use encryption codes with high end algorithms such that your data cannot be accessed (hacked) by anyone other than the intended user. Other than that passwords and your PIN (personal identification number) are to be provided each time an online transaction is made. Both can be changed as many times as you like.

Also you need to be sure the security is operating properly e.g. on internet browser you will see a padlock symbol which reads “SSL Secured (128 bit)”. This SSL protocol ensures a high security level of the encrypted kind between your web browser and the bank’s server. Finally, you need to keep your eyes open to see the address bar and make sure the exact URL of the bank. Banks have to maintain high level security to save important data and win the trust of customers.
Reads https: instead of http: the extra ‘s’ is proof of a secure connection.

There are instances when online banking isn’t so safe. Firstly, it can be the attacked of hackers into the main banking computer system. Secondly, those cute little hyperlinks urging you to ‘click’ do NOT take you to your bank’s site, but somewhere else totally. Thirdly, ‘spy ware’, which comes from installed software, gathers your private information for advertising purposes by a background mafia. Fourthly, employee theft cannot be ignored. There is not much you can do here as you are prone to this risk even when paying your restaurant bills.

If you like to educate yourself and get protection against online transactional risks you can do the following things.
• Do not respond to amateurish looking emails (seemingly) from your bank that’s prompts you to enter your account details on a website.
• Use virus doctors which monitor your spyware or adware if any have crept into your computer.
• Besides the bank having a firewall you can opt for one too so that it monitors all dealings on your internet connection.
• Anti-virus software helps a lot too by checking all software that you download besides warning you of any creepy, suspicious files, videos etc.
• Don’t tick the option that asks you ‘do you want Windows to remember your password” as anyone can easily access your info by pressing enter.
• Do not use PCs at unknown places like internet café or even friend’s place.
• Don’t use very common words like your name, sir name DOB as password.

In any case, just be on your toes and keep your eyes open to any news in circulation about online transaction safety.