Tips to prevent digital banking fraud during the festive season


Many people utilize online mediums to carry out their financial and banking transactions nowadays, and this is a development that shows no sign of vanishing. Due to the increased usage of online banking especially during the festive season, there is always an increase in fraudulent activities by cyber criminals because customers get more bonuses from work and are usually in a more relaxed mood.

Although banks make provision of certain security protocols to protect customers, they cannot be held liable by some of the customers who fail to take advantage and implement these security protocols.

From virus attacks to key loggers, amongst others, it is essential that people learn how to protect themselves from digital banking fraud during this festive period using the following tips.

They include;

What to do to prevent digital banking fraud

  • Ensure that your computer is protected with an efficient antivirus which would fight off any malware that might try to access and steal your personal information.
  • Make sure you keep your system updated with the latest security patches from your OEM or device manufacturer.
  • Do not click links or websites whose origins you’re mnot sure of, that ask for your private card information.
  • Do not divulge your pin and other valuable login details to anyone.
  • Before you give your full name and other personal details to an organisation, make sure it is a reputable one.
  • Be cautious of phone calls or emails that offer you mouth watering deals. If an offer seems too good to be true, then it probably is. Do not accept to give your details without making your findings.
  • If you plan on accessing information using a wireless network, make sure the network is secure as doing so over an unsecure network could let cybercriminals gain access to your computer and steal personal information.
  • Ensure your PIN and password are always kept secure. If you have the feeling that your password or PIN has been exposed, its best to change it instantly either via the nearest ATM, online banking or the closest bank branch.
  • Be wary of shady antivirus software that are free as they may contain malware that steal your info.
  • Ensure you carry out registration on your bank’s platform so you can receive messages and notifications regarding your account transactions, so you can keep track 24/7.
  • Ensure you inform your bank whenever you change phone numbers so they can help update your information on their system.
  • If you notice that you have no service for a long period of time, ensure you check what the problem might be immediately as you may have been a victim of illegal sim swap. Report to your bank if you notice any discrepancy.
  • Endeavour to have your passwords and Pins replaced at regular intervals.
  • Never utilize the same password and username for banking as you make use of in other websites and apps like email and social media.
  • Ensure you log in to the website of your Bank by inputing the web address by yourself as doing it through Google search could direct you to a spoofed site.
  • Ensure you carry out internet banking using a computer that you utilize regularly at home or at work that is secure. Do not carry out Online banking in public locations like internet Cafes or shared computers, as you may hardly realize what software has been installed that may expose or leak your transactions.
  • Ensure your Smartphone and computer are updated with the most recent software and app updates.
  • Don’t open emails or attachments which seem suspicious or unfamiliar. Also, do not click links in SMS’s or mails you don’t recognize because criminals have the ability to make mails seem legitimate.
  • Criminals may place calls to you sometimes pretending to be from your bank, service provider or any retailer that is reputable. In the process of the conversation, they might ask you to make verification on personal and banking information. It is safer for you to end the call and contact the company directly to make sure the call is legitimate.
  • Only buy things online using your card on websites that have good reputations and have been verified as secure sites (this can be done by looking for the lock icon in your browser and making sure the address begins with https://).
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Although the above tips are not entirely certain, they will assist in making sure that the money of consumers are kept secure over the festive period. You gotta save that money up to enjoy during Christmas and New Year, not lose it to some good-for-nothing cyber frausdster prowling the internet 😉 .


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