Saturday, December 25, 2010

Feeling Secure While Doing Online Banking

Feeling secure doing online banking is a myth to some people. In fact I have a friend that will not opt for online banking no matter what you say or do. I quite understand that increased number of us "online bankers" has fallen for one prank or the other that has caused us our hard earned money.

However, any suggestion at all, to cancel our Online Banking services should be ignored (you too say that is dumb, right!). Instead we need to look closely at identifying various pranks/tricks, threats and weaknesses that are being used to steal our cash. This article is aimed at empowering you with the right knowledge and skill for enjoying the immense services through Safe Online Banking.

We will briefly discuss tips to help you Feel Secure Doing Online Banking.

Login Details -Safe guard this credentials. I am referring to your Username (In most case - Account Number) and Password. Do not write them down somewhere, not even in your bedside diary (except you are 80 years and above! Jor you have Multi-factor authentication). This is the only key into your account. Although this may sometimes not transfer money (if you are using multifactor authentication) but I bet you don't want to open your personal account details to your roommates.

Multi-factor Authentication- This is a method at which you use more than one form to login into your bank account(s). This is very hard to fool. Security experts sometimes refer to this as strong authentication - What you say you are (e.g. Username), What you have (e.g. Pass Code (Token), Pass phrase or password), Who you are (Signature - e.g. Finger print) equals to your true identity.

I was glad when the Banks I use started issuing Tokens for Online Banking transactions. Tokens are small hardware that generates random numbers dedicated to you at every time to further protect your login/authorization processes. Token will make it difficult for anybody to guess the password or authorization code for you transactions. Even the next number your token will generate is not determined by you!

You need to request for multi-factor authentication from your bank or move your account. Token will give you the right feeling of control.

Internet Browser Separation - Online banking is done mainly through an internet browser. Internet Explorer, Firefox, Safari, Chrome, Opera weaknesses have all been exploited by scammers, hackers and all sort and make away with our money without any trace. I have therefore devised a method to reduce my exposure.

* Use of different browser for different purposes- For example I use my Firefox, Chrome and Safari to do general browsing while I use Internet Explorer solely and STRICTLY for my ONLINE BANKING. The first reason being that as you browse different sites you download their cookies (knowingly or unknowingly) and some add-ons (e.g. Password Keepers and Auto-fills amongst others) on those browsers could be the same sending your details out. Another is the fact that most Online Banking Platforms are more Internet Explorer friendly (my conclusion after several use).

* No add-ons. Please do not add any add-ons to the Internet Browser you have selected. Firefox recently announced pulling down from their list; a password keeper add-on that was sending users details to a remote server. Can you imagine how many records they would have gathered before being detected?

* Protected Mode -Enable Protected Mode on your preferred browser. This is will allow browser application to function in a Sandbox (a kind of containment or confinement of function) which increase the security of your browser.

Secure Website - Any website with "HTTP:" (Hypertext Transfer Protocol) indicate that your transaction is not secure (no encryption). "HTTPS:" (HTTPSecure) is for encrypted services which guarantee that you are talking to the right server with the use of what is called sessions. You can identify this by padlock sign at the Top (IE) or at the bottom right (Firefox) of your browser. Fortunately all registered banks uses secure websites for their online banking platform

If the site is not secure (i.e. HTTPS), please don't do your Online Banking on it neither leave your Credit card nor ATM details on such sites. Always lookout for this sign PLEASE!

More- You can get more tips and tricks in our report The #1 Online Privacy Secrets.

The report covers:

* Anonymity Online - Encrypted Connection through local internet provider
* Identify Fraudulent websites and Emails
* Stop Spam -
* Browse Restricted
* Classified Information on Facebook- FB Advance Configuration
* In depth Internet Security tips

This is large library of winning Online Security tips and tricks that will bring you a great feeling of confidence while online.

By: Olayemi Oyeniyi
email -
If you are interested please send "Online Privacy Secrets" to

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