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How To Protect Your Online Bank Account – 5 Secret Tips

The number of people using internet banking has been increasing dramatically during the last several months.

Most people reduce their outdoor work and love to do indoor activities, such as working, shopping, banking transactions such as transferring money, or paying bills. You can take advantage of internet banking since it may keep you secure during pandemics and other emergencies. 

Having an online bank account in the United Arab Emirates is a great way to make use of this convenient service. With a few clicks or taps on your mobile device, you may do a wide range of transactions at any time from any location without having to wait in long queues.

Practicing Secure Online Banking

Even while internet banking has many advantages, you should be aware that it also has certain hazards. There are a variety of cyber hazards to deal with.

It is important for those who use online banking services to be alert to identity thefts, pharming, and phishing schemes. These bank scams may rob you of your funds, so be careful.

In addition, frauds may use the information they obtained from your bank account to target your credit card and other money.

It’s not necessary to give up the advantages of internet banking because of these concerns. It’s easy to keep your bank account safe so you may keep using these features.

Follow the tips & techniques are including: 

Protect Your Online Account 1: Don’t Use The Same Password

Due to advanced technology and cunning, hackers are able to get their hands on whatever data they want including your login credentials. 

Thus, avoid using the same passwords for all your online accounts and activities in order to secure sensitive information.

You should remember that your email and social media passwords should be separate from your bank and credit card information. If your bank account or credit card might be accessed by someone, you will lose all of the accounts which you have using similar passwords. 

Active the different passwords for each account to make it more difficult for hackers to gain access. One important note is that you can change your password for at least two to three months. 

Protect Your Online Account 2: Use Strong Passwords 

Hackers will have a harder time figuring out your passwords if they’re unusual or more unique. They might easily access it if you gave your birth date, child’s or mother’s names in your password. We recommend that you don’t use these kinds of passwords. Always comes up with new ideas and doesn’t stop till they’re powerful enough.

When inventing passwords, use your imagination. Make imaginative use of the letter, number, and symbol mash-ups to help you retain the information.

Consider using a password management tool, if you’re worried that having so many different passwords would make it difficult to remember them all. 

Protect Your Online Account 3: Don’t Share Your Password with Anyone

No matter how you need money from the bank or friend, you should never reveal your passwords or OTP. If you get a call from a bank representative, don’t share your details because no bank will call you to get your details. 

Do not give out your bank account password, even if you know the person well enough to give it to them. There’s always the possibility that they’ll leak this highly classified information to a thief.

Also, never give up your password to a stranger over the phone, email, or chat, even if they claim to be bank employees. In many cases, frauds have gotten all the information they need by claiming to be the institution’s representatives.

Keep in mind that no respectable businesses will ask you to provide your password. As a result, don’t be tricked into handing it off too readily.

Protect Your Online Account 4: Watch Out for Smishing

Smishing is another online banking fraud that you should be aware of, in addition to phone scams and phishing.

The term “smishing” refers to receiving a suspicious SMS message from someone claiming to be a bank employee.

Each time a security issue has been discovered, a toll-free number is normally included in the notification. They will be prompted for their account number and password or PIN during the phone call.

Scammers will use the information they’ve obtained to access the victim’s bank account.

Do not call the number in the SMS if you receive it. Consult the customer support department by calling the number or visiting the website listed on your monthly bank statement.

Protect Your Online Account 5: Multiple Factor Authentication 

MFA or Multiple Factor Authentication requires that they provide at least two pieces of proof to verify a user’s identity. 

Its proof must come from a variety of sources such as what you already know or something you have. Your fingerprint or facial scan can be used in conjunction with a password or a passcode to ensure that only you have access to your accounts.

As a last step, you’ll get a one-time password or code through text message to your mobile phone. This feature provides an additional degree of security for your data. As a result, fraudsters will have a tougher time stealing your personal information.

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