1)Online Banking Security

Many banking functions are now available to you 24X7 and at

your finger tips via the mobile. But the flip side of the coin has
now shown up. With all the advantages that the world of internet
banking offers, there are certain risks involved, which remain
huge concerns for the users.

There are various ways in which fraudsters may try to deceive

you into giving them your personal and security details. Here are
some of the common online banking frauds that are prevalent –

Trojan: Trojan is an internet virus that gets installed in your

computer while browsing internet or downloading from unsecured
websites. . Once a Trojan is installed in your system the malware
monitors your online activities and reads/steals sensitive
information such as passwords and credit card numbers etc.

Phishing Emails: As the name suggests, these are fraudulent

emails, claiming to come from the authorised channel. Further
explaining the Phishing scams, Deepak Kinger, Vice President,
Banking and Financial Services, VirtusaPolaris, a financial
technology firm serving leading software vendors in banking &
financial services, said, "Phishing involves installing 'malware' or
'spyware' that reads sensitive client information including client
details, passwords and PINs at the point of contact on channel.
This channel could be an ATM, internet banking site, mobile
banking app or the payment interface on an ecommerce site."

Money mule / Additional income email scam: Money Mules are

unaware victims, invariably job-seekers and those seeking to
make easy-money online. They are lured by fraudsters posing as
coming from companies with websites and offering them high
commission to get a small job done or huge salary for a part time
work from home job.

Such fraudsters will either ask you for an upfront payment as an

investment, that will get you stupendous returns or offer you a
commission to make transactions using your account. He will ask
for your bank account details and deposit money in it and then
further direct you to transfer it to accounts of other money mules
on commission basis. This transferring of funds could lead you
into criminal misdemeanours.

Many users install apps on their phones that grant unconditional

access to their data and other apps installed on the phone. These
'malware' apps can then monitor your inputs on a mobile banking
app for example and retrieve sensitive data to be passed on to
the app owner.

Here are 8 tips to use internet banking safely:

1) Always use genuine anti-virus software:

To protect your computer from phishing, malware, and other

security threats always use genuine anti-virus software. Anti-
virus helps in detecting and removing spyware that can steal
your sensitive information.

2) Avoid Using Public Wi-Fi or Use VPN software:

The biggest threat of an open Wi-Fi network is that the

hacker can sit in between the end user and the hotspot and
can trace all the data without any difficulty. Hackers see
unsecured connection as an opportunity to introduce
 malware into your device. So, usage of public Wi-Fi hotspots
for internet or mobile banking and making payments on
ecommerce sites should be avoided.
However if you are a regular public Wi-Fi user, consider
setting up a VPN software on your computer. It creates a
secure tunnel between the computer and the internet and
prevents hackers from intercepting the traffic.

3) Check for latest updates of your Smartphone's

operating system:

Smartphone users should make sure their operating system

is updated with the latest security patches and updates.
They should also not remove the security controls from the
phone often called 'jail breaking' or 'rooting'. They should
always look to restrict access that apps ask for when being
installed to only what the app really needs.

4) Change your password regularly and ensure it's a

strong one:

This might sound clichéd but, it is important to keep your

account safe and helps you maintain confidentiality. And
needless to say, don't share your details with anyone. Your
bank will never ask for your confidential information via
phone or email. If you have written your banking passwords
in a notepad or a dairy, make sure it remains
confidential.Further, be sure to choose strong and long
passwords. For additional security to financial transactions
through Internet Banking, create and maintain different
passwords for log-in and for transactions.
5) Subscribe for mobile notifications:
 If you haven't done it already, do it now. These notifications
will alert you quickly of any suspicious transaction. Whether
the transaction exceeds the specified limit or is within it,
you'll get an alert which will tell you the remaining account
balance. Not just the transactions, the bank will alert you of
the unsuccessful login attempts to your net-banking account.

6) Avoid signing-in to your net-banking account via

mailers:

It is always safer to type the bank URL yourself than getting

redirected to it via a promotional mail or any other third party
website. As mentioned earlier a bank will never ask you to
for the login credentials to your account. So if there's a
fraudulent email which offers to redirect you to your bank's
website and you enter your personal details on landing page
after clicking it, there's a huge risk of your login credentials
being stolen. Hence, if you receive an email from a bank
asking for login details, treat it with suspicion.

7) Do not use public computers to login to net banking:

If you are using a public computer, the risk of compromising

your login credentials is higher. However if you have to login
from such places, make sure you clear the cache and
browsing history, and delete all the temporary files from the
computer. Also, never allow the browser to remember your
ID and password. Or just go incognito.

8) Check your account regularly:

Most banks have a 'last logged in' or 'login history' tab on
their web sites. So, if you notice irregularities change your
password and get in touch with your bank immediately.
How can I tell if a web page is secured?
Usually, while browsing internet, the URLs of the website begin
with the letters "http". However, over a secure connection the
address displayed should begin with "https" - note the "s" at the
end.

So, while logging on, check for 'https://' in the URL, which assures
that all communications between your browser and the website
are encrypted and ensure that it is your bank's authentic website.
Further, the lock icon before the 'https://' is an assurance for a
secure connection.

2)Online shopping guidelines and

recommendations

There's every reason in the world to shop online. The bargains

are there. The selection is mind-boggling. The shopping is secure.
Shipping is fast. Even returns are easy, with the right e-retailers.
Shopping has never been easier or more convenient for
consumers. Here are basic guidelines; use them and you can
shop with confidence.
Use Familiar Websites:
Start at a trusted site. Search results can be rigged to lead you
astray, especially when you drift past the first few pages of links. If
you know the site, chances are it's less likely to be a rip-off. We
all know Amazon.com carries everything under the sun; likewise,
just about every major retail outlet has an online store, from
Target to Best Buy to Home Depot. Beware of misspellings or
sites using a different top-level domain (.net instead of .com, for
example)—those are the oldest tricks in the book. Yes, sales on
these sites might look enticing, but that's how they trick you into
giving up your info.
Look For the Lock:
Never buy anything online using your credit card from a site that
doesn't have SSL (secure sockets layer) encryption installed—at
the very least. You'll know if the site has SSL because the URL
for the site will start with HTTPS—instead of just HTTP. An icon of
a locked padlock will appear, typically to the left of the URL in the
address bar or the status bar down below; it depends on your
browser. HTTPS is standard now even on non-shopping sites,
enough that Google Chrome flags any page without the extra S
as "not secure." So a site without it should stand out even more.
Don’t Overshare:
No online shopping e-retailer needs your Social Security number
or your birthday to do business. However, if crooks get
them and your credit card number, they can do a lot of damage.
The more scammers know, the easier it is to steal your identity.
When possible, default to giving up as little personal data as
possible. Major sites get breached all the time.
Check Statements Regularly:
Don't wait for your bill to come at the end of the month. Go online
regularly during the holiday season and look at electronic
statements for your credit card, debit card, and checking
accounts. Look for any fraudulent charges, even originating from
payment sites like PayPal and Venmo. (After all, there's more
than one way to get to your money.)

Speaking of, you should definitely only buy online with a credit
card. If your debit card is compromised, scammers have direct
access to your bank funds. Any seller that wants a different kind
of payment, like wired money, is a big red flag. The Fair Credit
Billing Act ensures that if you get scammed, you are only
responsible for up to $50 of charges you didn't authorize. There
are protections even if you're not happy with a purchase you did
make.

If you see something wrong, pick up the phone to address the

matter quickly. In the case of credit cards, pay the bill only when
you know all your charges are accurate. You have 30 days to
notify the bank or card issuer of problems, however; after that,
you might be liable for the charges anyway

Create Strong Passwords:

We once asked PCMag readers if they frequently changed their
passwords. Eleven percent claimed they did it every day, but
those people are either paranoid, liars, or paranoid liars. The vast
majority only change a password to protect privacy a few times a
year (27 percent) or more likely, never (35 percent).

If you're going to be like the latter group, we will again beat this
dead horse about making sure that you utilize uncrackable
passwords. It's never more important than when banking and
shopping online. Our old tips for creating a unique password can
come in handy during a time of year when shopping around
probably means creating new accounts on e-commerce sites.

Even your perfect password isn't perfect. The smarter move: use
a password manager to create uncrackable passwords for you. It
will keep track of them and enter them, so you don't have to think
about it.

Inoculate Your Computer:

Swindlers don't sit around waiting for you to give them data;
sometimes they give you a little something extra to help things
along. You need to protect against malware with regular updates
to your antivirus program. Better yet, pay for a full-blown security
suite, which will have antivirus software, but also will fight
spam, spear-phishing emails, and phishing attacks from websites
(the latter two try and steal your personal info by mimicking a
message or site that looks legit). Remember, it's not enough to
have it installed. Make sure your anti-malware tools are always up
to date. Otherwise, they can let in any new threats—and there are
always new threats.

Privatize Your Wi-Fi:

If you're shopping via a public hotspot, stick to known networks,
even if they're free, like those found at Starbucks or Barnes &
Noble stores. Any of the providers in our roundup of the Fastest
Free Nationwide Wi-Fi can generally be trusted, but you should
probably also use a virtual private network (VPN) to be safe.

Avoid Shopping in Public:

What about using your own laptop to shop while you're out? It's
one thing to hand over a credit card to get swiped at the checkout,
but when you have to enter the credit card number and expiration
date and 3-digit code on the back into a shopping site while
sitting in a public cafe, you're giving an over-the-shoulder snooper
plenty of time to see the goods. Think like a gangster: Sit in the
back, facing the door. Use sites that you trust that already have
your credit card stored, so you don't have to pull it out for more
than a latte. Better yet: stay home when online shopping.

Skip the Card, Use the Phone:

Paying for items using your smartphone is pretty standard these
days in brick-and-mortar stores, and is actually even more secure
than using your credit card. Using a mobile payment
app like Apple Pay generates a one-time-use authentication code
for the purchase that no one else could ever steal and use. Plus,
you're avoiding card skimmers—hell, you don't even need to take
your credit card with you if you only go places that accept phone-
based payments. How does that matter if you're online shopping?
Many a phone app will now accept payment using Apple Pay
and Google Pay. You just need your fingerprint, face, or passcode
to make it happen instantly.

Count the cards:

There are many gift card "exchanges" out there that are a great
idea—letting you trade away cards you don't want for the cards
that you do—but you can't trust everyone else using such a
service. You might get a card and find it's already been used.
Make sure the site you're using has a rock-solid guarantee policy.
Better yet, simply go directly to a retail brick-and-mortar store to
get the physical card.

Check the Seller:

If you're wary of a site, perform your due diligence. Google is full
of retailer reviews. Put companies through the wringer before you
plunk down your credit card number. There's a reason that non-
delivery/non-payment is the most common cybercrime complaint:
it hurts when that happens, financially and emotionally.

That said—online reviews can be gamed. If you see nothing but

positive feedback and can't tell if the writers are legitimate
customers, follow your instincts.

If nothing else, make absolutely sure you've got a concrete

address and a working phone number for the seller. If things go
bad, you have a place to take your complaint. In fact, call them
before you order so you can clarify a return policy and where to
go with any issues after the purchase.

Complain Loud and Proud:

Don't be embarrassed if you get taken for a ride while online
shopping. Instead, get very, very mad. Complain to the seller. If
you don't get satisfaction, report it.

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