Part II: Is Internet banking safe? Is online banking safe? How do I prevent Internet banking fraud?

Continued from Part I: Is Internet banking safe? Is online banking safe?

Actions you should take to ensure security

You have an important role to play in ensuring the safety of Internet banking transactions. Some of the recommended actions that you, as a bank customer, should practise are:
- Do not reveal your login ID and password or PIN
  
  - Memorise it and do not write it down anywhere
  
  - Do not send any personal information particularly your password or PIN via ordinary e-mail
  
  - Do not store your login ID and password or PIN on the computer
  
  - Change your password or PIN regularly and avoid using easy-to-guess passwords such as names or birthdays. Ideally, your password should be a combination of characters (uppercase and lowercase) and numbers
  
  - Do not respond to any request for your login ID and password or PIN over the phone, through fax, e-mail or pop-up message, no matter how official or important it may seem
  
  - Change your password or PIN immediately and notify your banking institution if you suspect any unauthorised use of your accounts or that someone else may know your password or PIN
  
  - Check your transaction history details and statements regularly to make sure that there are no unauthorised transactions on your accounts or additions to the list of registered payees
- Check for the right and secure website
  
  - Always enter the URL of the website directly into the web browser. You should avoid being re-directed to the website, or hyperlink to it from an e-mail or another website
  
  - Make sure that you are in the correct website before doing any online transactions or providing personal information
  
  - Ensure that you are in a 'secure' website by checking the Universal Resource Locators (URLs) to ensure that it begins with https:// instead of http:// and look for a display of a closed padlock symbol on the status bar of your browser. However, you are cautioned that the URL and the closed padlock symbol, which represents the Secure Sockets Layer (SSL) certificate, could also be forged. Therefore, you should exercise greater vigilance by checking the URL and the SSL certificate from the Page Properties tab to confirm the authenticity of the website
  
  - Install a web browser toolbar that alerts you of any known phishing fraud website to minimise the risk of falling into phishing scams
- Subscribe to a better user authentication methodology
  
  - Sign up for two-factor authentication method with your banking institution to add a second level of authentication and secure your transaction
- Protect your personal computer from hackers, viruses and malicious programmes
  
  - Install a personal firewall and a reputable anti-virus programme to protect your personal computer from virus attacks, spyware or malicious programmes such as 'Trojan Horse'
  
  - Ensure that the anti-virus and antispyware programmes are up-to-date and are running at all times
  
  - Keep your operating system and web browser up-to-date with the latest security patches in order to protect against weaknesses or vulnerabilities
  
  - Configure your browser to reject ActiveX controls to reduce the likelihood that spyware could be installed on your computer
- Be careful when downloading software
  
  - Always check the programme or attachment received with an updated anti-virus programme to ensure that it does not contain any virus that could attack your computer
  
  - Never download any file or software from sites or sources, which you are not familiar with or click on hyperlinks sent to you by strangers. Opening such a file, software or hyperlink could expose your system to a computer virus that could hijack your personal information, including your password or PIN
- Do not leave your computer unattended when logged in
  
  - Log-off from the Internet banking site when you leave your computer unattended, even if it is for a short while
- Always remember to log-off
  
  - Always log-off when you have completed your banking transactions
  
  - Clear the memory cache and transaction history after logging out from the website to remove your account information. This would avoid stored information from being retrieved by unwanted parties
- Other measures
  
  - Do not have other browser windows open while you are banking online
  
  - Avoid using shared or 'planted' or public personal computers, e.g at Internet cafes, to conduct your Internet banking transactions
  
  - Disable the file and printer sharing feature on your operating system
  
  - Contact your banking institution to discuss any security concern you may have on your online accounts, including remedies required