Net banking is an advantageous facility offered by the banks to its customers. But the safety issues pertaining net banking are significant. There can be unsafe circumstances in the net banking facility but one can definitely practice net banking with safe measures. That is the inter-connection between the two.
You must have heard about net banking scams in newspapers and seen on TV channels. The loss due to these net banking scams is enormous. Moreover, it is difficult to trace the hackers involved in these scams. While going through these scams, one is confused whether to use net banking facility or not. You utilize net banking services from your personal computer. Yet, it can prove a threat to your bank account balance. Let us understand in detail about how banks have safeguarded the net banking practices with security measures.
Instructions and information by banks
Banks provide certain instructions to the users regarding usage of passwords and known frauds in internet banking. Banks are certainly aware about the net banking scams. They need to create awareness in the minds of users so that the users can implement certain security measures while operating a bank account online. Thus, the security information provided by the banks is certainly useful for its users.
Security software
For safe net banking practices, banks must design and implement security software for protecting users. Banks have built certain security measures such as providing virtual keyboard, authentication key, authentication keyboard, password options, five secret questions about your personal life, etc. Each time you transact, the bank website verifies with these authentication measures. If the details entered matches with the feed, then the transaction is taken to further step. But it there is considerable difference between the entered information and the feed, then the transaction is declined. The bank’s website understands that it is another user trying to hack the account or accessing the account with the username and password.
Banks can also come up with voice recognition or fingerprint recognition software for accessing the bank account
Authentication
Banks also built two-way authentication measure for determining whether the correct user has logged in. These authentication measures are personal as you are the one who have entered at the time of sign-in.
Banks must increase their security levels and measures by introducing new software. The users must be protected during net banking transactions. For instance, introducing downloadable software for preventing the hackers enter the website or access your details. Banks can also come up with voice recognition or fingerprint recognition software for accessing the bank account. Well, it seems a bit complicated but it will surely enhance the confidence of the online bank account users.
Safe net banking – 99% is in your hands
It is true that hackers and other unethical users can prove a threat to your bank accounts. But finally, it is up to you and the way in which you handle your net banking account. For instance, if you are operating your net banking account from a cyber café, then net banking will not be a safe platform for you. If you are using your online bank account in a wireless network or a public network, then do not blame that net banking is unsafe.
Thus, if you are following the instructions properly and are alert enough, then net banking is surely a safe practice.
