Tips for safe online banking

An important aspect of safe investing is fraud avoidance. My bank provided me with the following 10 tips for safe online banking [1]

1. Avoid using public terminals (such as Internet cafes) for Internet banking.
2. Be aware of the higher risk of interception during a wireless connection. Only do your banking via a wireless hotspot if you are certain of the integrity of the connection.
3. Ensure that you have an updated anti-virus and spyware programme and perform regular system scans. (See note 2).
4. Never access the site via a link. Rather type the address (URL) of your bank into the browser address bar or save the address as a "Favourite".
5. Do not open other websites while logged into Internet Banking; only have a single browser window open.
6. Choose a User ID and password that cannot be easily guessed and change these regularly.
7. Ensure your computer software is up-to-date.
8. Check for the padlock in the lower right of your browser window (it indicates a secure site for safe investing). You can click on this padlock to verify the site "owners".
   When you complete your online banking tasks, log off and close the browser window.
9. Never provide your password over the Internet (by email) or over the telephone to anyone (including persons identifying themselves as bank officials). (See my Blog on Phishing)
10. Don't trust a PDF payment proof unless verified by the bank - these documents can be manipulated by fraudsters.

1. First National Bank (South Africa)

2. Symantec Norton 360, MacAfee and Kaspersky are leading anti-virus prorammes. Try MacroVirus On-Call, especially if you have a less powerful PC and/or an old version of Windows.