Needless to say a lot of people have been a victim of electronic theft. But I must say it is usually due to our internet banking vulnerabilities. You need to be cautious if you don’t want to be a victim of digital theft. It is also important to note that these vulnerabilities are active because of our carelessness.
Internet Banking Vulnerabilities
The digital age makes a whole of lot of things easy, well, including stealing. I can brag that no stranger can ever steal my money online. Not even a bank staff can successfully stole my money via internet. Only the people I trust will be capable of transferring my money when I am not there. That is because I am cautious of how I use my electronic banking.
Recently, I saw a post trending in Nigeria; how a man lost some money to Airtime purchase on internet banking. The same bank that housed my 4 account types. I can paint the picture of what could have put him in such situation. The first question should be why would someone buy airtime worth 20k instead of withdrawing the money. The answer is however very simple. The transaction can never be traced beyond a sim card that is most likely not going to be in any phone.
I will just share basic tips on internet banking vulnerabilities and cautions.
ATM CARD (Credit/Debit Card) EXPOSURE
Somebody once bragged that her money is always safe because she doesn’t make use of any internet banking. I can only laugh so hard at such confidence. As a matter of fact, staying on the fence in this case expose you the more.
On a particular day, I went to her table where she usually drop her phone and ATM card. These two is enough to lose another 30k to an airtime purchase, I told her with a very big grin.
Anybody can make use of your ATM card to make purchases. This is much easier if they have your phone where OTP can be sent to. Another approach is signing you up for an internet banking profile; using your phone number and your ATM card number. Many merchants do not require your ATM pin to process your payment.
CAUTION: Hence, do not expose your ATM card at all, even if the person don’t know your pin.
Here comes the banger (laughs). This is the most common method of spamming either through sms or email. The details they usually want is your bank details and/or your Bank Verification Number (BVN). The email or sms might look like your bank sent you a wrong debit alert. Also they might just be a mouth watering offer that will canvass you into giving some key info. If you wonder how they get the authorization code in some cases, well, its also through the same method.
CAUTION: Do not give any information about your bank, or follow a link in an email asking you to input your bank information. Your bank keeps hammering that they will never ask you that online.
I think this is brief enough. The banking sector are really trying to increase the digital security. But, they can not help your carelessness.
- Do not give out your banking details to strangers even if you think its harmless.
- Do not click through emails to login into your account.
- Your bank wont ask you to call them to win a prize.
- Do not expose your atm card anywhere, not even in your sitting room.
- USE strong passwords.
I sincerely hope you have learnt the little mistakes that is causing our internet banking vulnerabilities. if you do get a question, as in the comment section or CLICK HERE. I am EKIAA, and I am just here to help.