How to experience Secure Banking with VPN?

People often forget, while performing online transactions, that their bank accounts may be vulnerable to attacks by cyber criminals. Nonetheless online accounts are easier targets for hackers as compared to robbing an actual bank. A cybercriminal could simply steal all the money in your bank account through a couple of keystrokes, instead of robbing a bank.

To protect their customers’ cash and take protective measures against hacks, banks and credit unions employ a number of policies. The standard measures to ensure safety of online transactions include utilizing anti-viruses, firewalls, fraud monitoring and website encryption, which mix up the data so that only the specific recipient can access and read it. If you perform online transactions there is a hundred percent chance that your bank employs such security protocols. 

So can online banking already considered to be safe?

Online banking can be safe when a secure bank technology on the back end is combined with vigilant customers on the front end. As an account holder it is also your responsibility to make sure that your accounts are protected. For example do not reply to emails that seem too good or bad, for that matter, to be believable.

Only large scale violations of data make it to the headlines, but cyber criminals also carry out these activities on a smaller scale by hacking users directly. For example, cybercriminals often employ a so-called phishing scam, in which they send out multiple emails pretending to represent a financial institution such as a bank in the hope of deceiving an unaware user.

The email could be such that it would suggest there is a problem with your bank account and would inquire about your bank PIN code or social security number. The email could also say that you’ve won one hundred million dollars, but in order to transfer that amount your account information is required.

Hence any unsuspecting customer who would reply to the email, by sending their account details, would enable the hackers to make purchases or even withdraw money from the bank account.

Methods of securing your online transactions:

1. Steer clear of public Wi-Fi for private banking:

While you are using a public Wi-Fi there is no surety that your online activity is not being watched by anyone else, unless every page that you access is encrypted. Your private home network is very ideal in this regard. If you are away from home prefer to use your own cellular data instead of a public Wi-Fi, or even use a Virtual Private Network (VPN). Whatever way you choose to log onto the internet always check for the web page encryption status by ensuring that the web address on the browser begins with “https”. The “s” in the beginning part of the web address indicates that the web address is safe to access.

2. Keep an updated anti-virus software:

Get an effective anti-virus software on the devices you use to access the internet and make sure that it is the latest version or an updated one.

3. Choose a bank that employs industry-standard security protocols:

While getting a bank that offers accounts with high interest rates and low fees, it should also be a top priority to consider banks that offer the highest level of security. Again make sure that the bank backs its online accounts by a robust technology.

For example certain banks use a multifactor authentication, in order to identify that it is actually you who is making the online transactions. A unique passcode could be sent to you, through a text message, or even your own fingerprint that you would have to enter in order to prove your identity for security purposes. Several larger online banks employ these security protocols hence it should be very easy to find out the most suited to you.

4. Change your passwords regularly:

When coming up with a password for your bank and online accounts, use combinations that are difficult to guess or those which may not be related to you in any way. Use multiple characters such as a mix of uppercase and lowercase letters, numbers and symbols. The more complex the password of your account, the harder it will be for hackers to breach your online transactions or bank accounts.

5. Subscribe to your bank’s text alerts:

Almost all financial institutions allow their customers the facility of text or email alerts whenever transactions take place through their bank accounts, or if the account balance passes a certain limit. Through these notifications users can get in touch with their banks immediately if they see anything out of the ordinary in their banking activity or online transactions.

6. Protect your personal Information:

Your personal information is very crucial hence you should not post data such as your full date of birth on social networks such as Facebook. Any type of personal information that you post online can be breached and stolen hence you should keep a check on the information that is available on you.

7. Ensure your email’s security:

If you access a website, chat request, instant message or an email that comes across as suspicious to you, close your web browser, email programs and even shut down your device for some time. Restart your device and run a security scan through an anti-virus software before logging back onto the internet.

As a worst case scenario if you ever feel that your credit card or personal information has been stolen or being used without your permission, you should immediately contact your major credit reporting agencies to place a scam alert on your credit report. Alert your credit card provider of the suspicious activity or unauthorized use of your information immediately.

8. Use A VPN

Using a VPN everytime your bank online might be last on our list but should be the first on yours. Not only will your connection be private, your data will be encrypted and invisible to anyone trying to snoop on you. Technically speaking, there cannot be secure banking without a VPN, so remember to connect or use a VPN for every online banking transaction.

Reporting any sort of illicit activity that take place on your credit card or bank account so that you are are eligible for any fraud or theft liability protection. Taking necessary measure to protect your financial transactions and online purchases are very crucial in order to avoid any theft of your financial assets.