Mumbai: Most people use online banking. But it also enable scammers to exploit vulnerabilities. Protecting your bank account from fraud is an important step. Here are 5 effective ways to secure your financial information:
1. Use strong and unique passwords
Avoid easy-to-guess passwords like ‘123456’, ‘000000’ or your name.
You must opt for longer and more complex passwords.
You must combine upper and lowercase letters, numbers and symbols in one password to make it tough to unlock for any random person.
One must keep changing their passwords on-and-off, (periodically) and avoid reusing them for multiple accounts.
2. Enable Two-Factor Authentication (2FA)
Two-factor authentication does add an extra layer of security by requiring a code sent to your phone or email along with your password. This will ensure that even if your password is stolen, the scammers will still not be able to access your account without the second code.
3. Beware of Phishing Scams
Scammers have been sending emails or messages pretending to be your bank, asking for sensitive information. Always verify the sender’s authenticity and avoid clicking on suspicious links. When in doubt, contact your bank directly.
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4. Monitor Bank statements regularly
Review your bank statements regularly, to detect unauthorized transactions. Many banks will further offer alerts for unusual activities, which will enable you to act swiftly if anything seems amiss.
5. Avoid public Wi-Fi for transactions
Using public Wi-Fi could expose your data to hackers. Always conduct banking activities on secure networks or use a trusted VPN to encrypt your online activities.
Use secure banking apps only:
Stick to official banking apps only, and download them from official/trusted sources.
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