In the ceremonious wake of e-commerce, mobile money transactions and money transfers from bank account applications will be witnessed more than ever.
Needless to say, the online space being convenient especially with the prevailing situation, it is never 100 per cent safe. Hackers, money launderers, online con artists, are alert more than ever at such times. Just as you hear people getting mugged or robbed, ATM cards also get cloned and money is stolen.Transactions need to be safe1. Countercheck till numbers, account numbersBefore you send money to any number or make payments to any till numbers, cross-check the numbers carefully. Be sure not to miss a single digit, lest you send money to the wrong number or till.2. Create strong passwordsYou need a non-predictable password for your mobile banking application, one that none can guess or try to go around to alter transactions. The password, however, must not be complicated that you cannot remember it. Avoid using common words, phrases and do not show anyone your password.Best passwords are alphanumeric with a mix of characters, upper case, and lowercase letters. Never write it down anywhere especially in line with your user Identity. Set up account notifications wherever you can to receive notifications when transactions are made. Most banks today have mobile banking notification messages through text messages but only if you sign up for them.3. Avoid public Wi-Fi’sWhen logging in to check account balances or statements, use personal data or home Wi-Fi. Avoid public Wi-Fi from Public service vehicles, shopping malls, offices, and recreational parks. Even secured networks can be risky.Using public Wi-Fi risks from having your account data intercepted by third parties. This is because hackers can position themselves between your bank account and you who are using the Wi-Fi and the connection point. Hence they can see most of your details and access your money.Today, most telecommunication companies have Mi-Fi.Mi-Fi’s are portable routers that provide internet connectivity with subscription packages that are affordable to the consumer. You can consider taking any of these with you, as they work just fine like the mobile data.4. Computer SecurityIf you mostly transact from your desktop or laptop, ensure your security software is up to date. Log out once you finish using the banking software or website so that no one comes to find your account open, in case you share the computer with other people.Avoid using cyber café computers when you want to access your banking app.Also, do not auto-save your password in any communally used computers.Remember to clear your browser history and cache after an internet banking session.5. Avoid click baitsAvoid clicking through emails and other notifications asking you to submit your account details.No financial institution worth their salt will ever ask you to send your account login details. Do not trust all links or websites that redirect to your bank account details. These may store and use your account details against you.