Finance Banking

Home Banking And Hackers

Published at 07/14/2011 11:34:33

Home banking is nothing but internet banking or online banking. Home banking can also be done through phone hence it is also called as phone banking. Home banking facility was started by multi-national banks to increase their customer base and it proved to be a very innovative and hit concept among people. In home banking one does not have to visit a bank because as the name suggests you can do all banking transactions by sitting in your home. Home banking and security co-relate with each other because both are essential part for delivering fast and reliable service to the clients over the internet and through phone.

When we think about saving our hard earned money in a bank the first thing that comes across our mind is security. We want our money to be safe that’s why we opt for a bank and in return our actual amount gets increased due to interest they offer so the customer is always going to gain when he keeps his money in a bank. Keeping money at home always has danger of theft hence everyone prefers to keep their money in banks because banks are more secure.


Burglars know that banks have lots of money and history shows that there have been direct attack on banks but rate of such burglary is very low and also there is greater risk of getting caught because banks have high security level. With use of technology in banking the burglars have become hi-tech and are into hacking of online bank accounts. When online banking was started hackers tried to hack the network of banks. Hacking a banks network is not at all easy that is why hackers are continuously targeting clients who use home banking and other services through banks.

Home banking was started so that customers do not have to visit their bank for transactions. With home banking service one can even deposit or withdraw amount by using a phone while if someone wants to transfer money or pay bills internet banking can be used but in both phone banking and online banking there is lots of security issues because in both cases hackers try to crack bank accounts to siphon-off their money.

With concept of internet banking hacking activity got increased and many cases of online fraud started surfacing which resulted in world-wide awakening among banks and its customers. The banks made their network security stronger so the customers are the only point of hacking for the hackers. Not every bank has strong network and such banks are susceptible to hacking, these are usually small local banks.

Banking and hacking have become synonymous with online banking that is why banks have updated their network security with latest high-end technology and they have also educated their customers so that hackers do not fool them and hack their online account. Banks also provide security token to its online customers to prevent hacking of their account. Security token are unique and they come with certain hardware or can also be software based which completely depends on your bank.

Tips and comments:

  •  If you want to be safe with home banking never give away your username and password to anyone.
  •  Always type website address of your bank and then enter your data. 
  • Never click and enter your protected data in the links inside your emails asking for your home banking information. Always use secure internet connection. 
  • You should keep changing your password from time to time. 
  • Do not use internet banking service through shared computer.
  •  Most banks provide key token hardware which is used to identify a person and the online bank account. Key token is for security and it prevents hacking of your online account.

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