Johannesburg – African Bank urges consumers to play their role in ensuring the security of online banking by making full use of the security features offered by banks and by implementing strong passwords.
African bank risk manager Piet Swanepoel says cybercriminals are always a threat and therefore it is up to banks to put in place the right online security features and their customers to understand and use them to the fullest. .
If you bank online, some standard measures your bank likely has in place include the use of virus protection, firewalls, fraud monitoring, and website encryption.
Swanepoel claims that online banking is only secure, however, when this kind of back-end technology meets savvy consumers at the front-end.
“As an account holder, you have a responsibility to make sure your bank accounts are protected. A lot of people think it couldn’t happen to them, but cybercrime is rampant.
“Getting your money out of your bank account with just a few keystrokes is much easier for a criminal than it is to rob a bank. Consumers should use online banking features to protect their money and personal information. “
Bank customers who are not yet registered with online banking must first register for this service before they can begin to regularly monitor their accounts to protect themselves from the risk of fraud.
Examples of online banking security features that mitigate the risk of fraud:
• If you are registered and use online banking and / or a banking app, protect your online banking profile. Your online banking profile is your online banking username, PIN and password. Never share them with anyone.
• Set online banking limits. This is a daily payment limit for all transactions in your account. The smaller the better!
• Configure SMS notifications so that you receive SMS alerts for all transactions in your account that are greater than R100.
• If your online banking information has been compromised, you should immediately change your PIN and password.
• If you have forgotten your online banking credentials (username, password, PIN code), you can reset them on your online banking profile.
“It’s a good idea to regularly change your login information. Use combinations that are difficult to guess, such as a mixture of upper and lower case letters, numbers and symbols. The more complex the password, the more difficult it will be to crack and the more protection it will offer against hackers, ”explains Swanepoel.
He adds that creating simple passwords for convenience does not protect your identity or your money. Consumers should make an effort to ensure their personal information and money are safe by striving to create strong passwords.
“One final tip regarding secure online banking is to avoid public Wi-Fi networks. The security of your private home network is better and if you need to connect away from home, use your cell phone data instead of public Wi-Fi.
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