Finance Banking

Online Banking Security

Published at 07/03/2011 22:38:59

Technology advancement has lead to boom in online banking. All major banks have upgraded their banking systems and now they are all in core banking. Core banking allows them to track transaction from any branch across the globe. Core banking has been only possible due to advent of internet and server technology. Online banking is part of core banking concept and it helps a bank to increase its customer base to all corners of the globe. With Online banking there is always a risk of security. There are many hackers who have mastered the art of cracking bank accounts of customers who do online transaction via internet. Banking online is easy but it has many loop-holes which allows’ a hacker to crack information of banks customers.

Over the years there have been many online fraud cases where customers using online services of bank have been cheated by hackers. Banking online is not easy because hackers are always up with new tricks to crack your bank account and siphon-off all your money. Hackers continuously use Trojans to get all information from your hard-disk which helps them to read all important details which might be related to your banking activities. There are many people who store their username and password in a file on their hard disk, such information is targeted by the hackers to crack bank accounts. Hackers sent virus to capture data from your hard disk. Many-a-times hackers use phishing to crack your bank account. In case of phishing, hackers falsely claim to be bank authority and they generate exactly same kind of web-page like your bank through which they request your username and password. Some people unknowingly get trapped by such phishing activity and they lose their money.

Banks have become very smart these days and they have increased online banking security by many folds to stop hackers from cracking their network. Today banking online is much safer because banks are using very high data encryption service which makes it very difficult to crack banks network or account of a customer when data is transferred by the customer or the bank. To achieve high rate of security banks continuously keep updating their online security model according to the latest fool-proof technology which helps them in securing more online customers.

Tips and comments:

One should always enter username and password on the banks web address only and for that you need to check the web-address before entering any data. If you see wrong website address then it could be handiwork of hackers who might be in phishing activity to get your information. Always enter web-address manually and avoid using links provided through emails to protect your bank account from phishing activity. Banks should always have very high data encryption so that cracking the banks network becomes very difficult for the hackers.  


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