Learning Centre : Safe Online Banking | Cyber Security Information Portal

Learning Purpose

Online banking can be a convenient way to manage finances and transactions from anywhere. But if users do not take adequate precautions, they may fall into the traps of cyber criminals. This course reminds users with the security threats and good practices to protect their financial information and assets when using online banking services.

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What are the security threats?

Authentication information for online banking including username and password can be leaked to cyber criminals through phishing attack, spyware and other cyber attacks.
Some malware can use advanced technique to intercept messages of online session and gather information including one-time password to complete the two factor authentication process and cheat money through online banking transfers.
Cyber criminals can use malicious mobile application to steal one time SMS authentication password in mobile device.

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How can you protect yourself when using online banking services?

Enter URL of bank website directly into web browser or using a bookmark and avoid access bank website through –
- hyperlink embedded in e-mail
- internet search engine
- suspicious pop-up window

How can you protect yourself when using online bankng services?(Continued)

Beware of unusual log in process including –
- unusual pop-up screen or window
- abnormal slow computer response
- unexpected steps or information required for log in
Make sure you are using a secure Internet connection for online banking by identifying “https” at the start of the web address and an image of a padlock in the browser.

How can you protect yourself when using online banking services?(Continued)

Set a strong password to reduce the risk of password guessing.
Have a different password for each of your online accounts, in particular online banking accounts.
Do not access online banking services with jailbroken/ rooted mobile device.
Never disclose log in details of your online banking account in any occasions, including email, pop-up window and even someone claiming to be from the bank or the police.

How can you protect yourself when using online banking services?(Continued)

Always keep the electronic receipt for fund transfer, bill payment and other financial transactions.
Check your bank statement regularly and report any unusual transactions to the bank immediately.
Check your account regularly to identify any suspicious activity.

Good practices for protecting sensitive
information and online activities

Use a trusted and secured computer/ mobile device and keep software up-to-date, particularly your web browser, anti-malware software and firewall.
Avoid using unknown or insecure network connections.
Protect online user account with a strong and frequently changed password.

Good practices for protecting sensitive
information and online activities(Continued)

Select service provider which can provide strong authentication mechanism, such as two-factor authentication.
Always log out website or system after use and clear browser cache.
Encrypt sensitive information during data transmission.
Don't respond to any suspicious email or pop-up message which asks for financial or other sensitive information.

Summary

Use trusted and secured computer/ mobile device for online banking.
Keep software up-to-date, particularly your web browser, anti-malware software and firewall.
Never disclose log in details of your online banking account in any occasions, including email, pop-up windows and even someone claiming to be from the bank or the police.