Photo courtesy of Stripeyblue
Rule NUMBER ONE when it comes to protecting yourself when using internet banking services: Never log into your account via a third-party link. Repeat after me 3 times-
Once: Never log into my online banking account via a third party link!
Twice: Never log into my online banking account via a third party link!
Thrice: Never log into my online banking account via a third party link!
If you cannot adhere to this Number One rule, don’t use Internet Banking and stop reading this article.
Rule NUMBER TWO, don’t reveal your entire transaction details to anyone. Simple rule but apparently it’s not so easy to follow. Many scammers take advantage of your greed and make up stories of you winning a prize or qualifying you for a lucky draw. No, they don’t ask you for your ancestors’ names or your entire family tree history. They just need a few magic numbers from you and you instantly elevates your status to ‘God of Fortune‘.
After clicking on these bogus links, visitors are usually brought to a site that looks exactly like the bank's internet banking site, since the information are copy-pasted or linked directly from the actual sources.
Rule NUMBER THREE, don’t access your account from a public terminal (computer). Well, sometimes you really can’t help it, especially during an emergency, and the closest ‘ATM’ is the cybercafe down the road. There are many smart software such as key-logging software that runs on public computers which you might not be aware of. These key-logging software will then keep track of every single alphabets and numbers you have typed, and once you leave your seat, rest assure whatever secret love letters you’ve sent through the keyboard will be used against you!
Rule NUMBER FOUR, don’t save your passwords in the terminal. Never click on ‘Remember my password’, if there’s ever such a feature in your Internet Banking services provider. By the way, if there’s such a feature in your Internet Banking services provider, take out all your money right now and put it in a bank that doesn’t.
Photo courtesy of ul_Marga
If possible, only save your login details between your ears. It’s not as easy as it sounds. With so many accounts and profiles we have these days, it’s impossible to remember every passwords. My solution is that you use the same email for all your important accounts, and in the event you forgot the password, at the very least, you can still retrieve it from your email. Also, avoid storing banking information on your mobile phone or laptops, as it is very prone to theft and you wouldn’t want to know what these thieves do with your devices (remember Edison Chen?).
Rule NUMBER FIVE, change your passwords regularly. I don’t expect you to change your password with the same frequency you change your underwears, but try to do it at least once every quarter (3 months). It’s good for your brain cells.
Rule NUMBER SIX, use strong passwords. No, I don’t mean passwords like ‘muscular’, ‘powerful’, ‘terror’, ‘incredible’, ‘kuat-kuat’ or ‘tahan’. Strong passwords are combinations of lower caps, uppercaps, numbers and symbols. uK31L&@d%U^, now that’s a STRONG password!
Try not to generate password from a password generator for obvious reasons. Avoid using your personal numbers such as car number plates, birthdays, anniversary dates and the date you broke up with your girlfriend.
If you are using ABC123, God help you!
Rule NUMBER SEVEN, set a limit to your Internet Banking daily transaction. This can be easily done by going to the ATM or to any of the bank’s branches. A limit of RM1,000 should be sufficient for most personal internet banking activities. For bigger limit transactions, it’s worth taking a trip to the front counter.
Rule NUMBER EIGHT, log-in to your Internet Banking account at least once a week and keep track of every transactions made. You pay the price for your own complacency.
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