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Soumya Patnaik

Know the Risks of Using ATM and Online Banking

May 22, 2013
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Estimated reading time: 3 minutes

As convenient and user-friendly as the ATM (automated teller machine) and online banking services are, they have their own share of security risks. This blog entails the security risks of using ATMs and online banking, and discusses some valuable safety measures users can take.

Risks Involved with ATMs
The greatest security risk of using an ATM is falling prey to “card skimming”. It is an illegal activity carried out by criminals to obtain the data embedded in the magnetic strip of credit or debit cards that are used in ATMs. You can read more on card skimming, and get some important security tips here.

Risks Involved with Online Banking

fake-website

Fake ICICI Bank website

Phishing Scam
A phishing scam involves sending emails to a target. The emails are skilfully designed to look like a genuine communication from a trustworthy entity – in this case, a bank. Such emails contain links to websites that almost appear as the customer’s bank’s website. Once the user lands on the fraudulent website, they are asked for their bank account details.

phishing-email

Phishing email

Pharming
Pharming is a type of phishing activity, where, even if a user types in the correct URL of their bank’s website, they get redirected to a fake website, that looks identical to the legitimate one. In short, pharming is a method that an attacker uses to hijack a bank’s URL.

Key Logging
If you usually carry out online banking in a public network like cyber cafes, then you are risking yourself to keylogging. Keylogging is a method of capturing the keyboard keys you strike during your online activity. With this data, it is not difficult for criminals to track your online banking details, and use the info to make illegal transactions.

A hardware-keylogger

A hardware keylogger

Man-in-the-Browser Attack

The man-in-the-browser (MitB) is a Trojan horse. Once this malware infects your system, it sits dormant in your system’s browser. When you visit a banking site, the malware gets activated and displays a fake login page (similar to the login page of your bank). The fake page will ask for your bank credentials and other security information. Providing all these details will let the attacker hijack your bank account, and change the destination account you are transferring your money to, and even the amount. The hijacker can also modify and adjust transactions so that you do not sense any changes in your account.

Some Online Banking Safety Tips:

1. Always do online banking from a secured connection at home. Avoid doing it from a cyber cafe, a shared computer, or over an unsecured Wi-Fi network.

2. Always look for the “padlock” icon in the window of the browser (it won’t be present in the web page itself). Also, ensure that the URL of the bank’s website begins with “https”. Both these things indicate that you are on a secure website.

3. Change your banking password regularly, and do not keep one common password for multiple online banking accounts.

4. Monitor your bank account on a regular basis.

5. Always remember to LOGOUT from your bank’s website, once your work is done.

6. Avoid clicking external links in mails or elsewhere, which offers to take you to your bank’s website.

7. It is a good practice to check your last login history, whenever you login to your bank’s website.

8. Consider using the virtual keyboard while entering your banking password. Taking this security measure significantly reduces the risk of keylogging. Alternatively, you can also make use of the Onscreen Keyboard, which is freely available in PC and Mac.

9. If you are using a mobile banking application, then be certain that it has been downloaded from your bank’s website and not from any other source. It is also essential that you review the permissions of the application.

To conclude, always employ a reliable antivirus and ensure that the software is up-to-date so that you can keep your system, and other crucial details safe and secure.

Have something to add to this story? Share it in the comments.

123 Comments

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  1. Naik SatishMay 22, 2013 at 5:04 PM

    good post regarding security tip..

    Reply
  2. Bishnupada GhoshMay 22, 2013 at 5:05 PM

    I am using Quick Heal Total Internet Security for a long time. Recently my Laptop has been infected with JS/Obfuscator.Q. My anti virus continuously quarantining it but removing the quarantined file is not helping. It is coming back again & again. Pl. help me out.

    Reply
  3. Arpan BhattacharyaMay 22, 2013 at 5:12 PM

    great info

    Reply
  4. Anjay KumarMay 22, 2013 at 5:14 PM

    Thanks you! Madam, This is very useful information………ッ.

    Reply
  5. Pranav DaveMay 22, 2013 at 5:47 PM

    Thanks for sending me the chance of frauds if using the ATM deals.
    many more must be extra careful.

    Reply
  6. A VERY USEFUL TIPS I HAVE RECEIVED FROM HERE DO PASS ON TO OTHER MANY
    USER SO THEY CAN ME MORE ALERT FOR THEIR FUTURE TRANSACTIONS

    THANKS……………….THANKS……………….THANKS

    Reply
  7. Thanks Soumya, for Nice and Helpful Information.

    Reply
  8. Very informative. Thanks
    Mohan

    Reply
  9. It’s useful information….. thanks for post.

    Reply
  10. Sheetal MauryaMay 22, 2013 at 7:06 PM

    great info thanks

    Reply
  11. Amol SagvekarMay 22, 2013 at 7:26 PM

    Thank You Mam! A very Useful Tip.

    Reply
  12. Kedar Krishna DasMay 22, 2013 at 7:40 PM

    Thank you so much Soumya…its really useful
    Regards Kedar

    Reply
  13. S.S. RajpalMay 22, 2013 at 7:55 PM

    First of all, I would thank to your valuable suggestions, as part of quick heal team, taking care of online banking and ATM users. Everyone must follow such instructions, when we use internet especially, at the time of money transactions.

    Further, My suggestion is, we must open a separate joint account with ATM facility, for online banking, e.g. having not more than Rs. 10 or 20 thousand balance. at a given time for essential online small expenditures, i.e. for paying electricity bill, water-tax, property-tax, milk-pass, railway reservation, bus fare ticket etc. After monthly payments, we can top-up this account by depositing with not more than 10 or 20000 Rs. or so.

    Reply
  14. Parikshit MenonMay 22, 2013 at 8:02 PM

    Thanks Soumya for this valuable information. Please continue with such topics of topical interest.

    Reply
  15. Milind PanditMay 22, 2013 at 8:14 PM

    Really impressed by the info. I had been looking for the same security measures during last some days and it was like: ‘where there is a will, there is a way’. I really extend my sincere thank-you to the QH team for the timely yet amply significant updates.

    Reply
  16. Dr. H.BasumataMay 22, 2013 at 8:16 PM

    Thank you very much for the most useful tips…

    Reply
  17. very useful hints delivered. Thanks a lot !!! Pl. pass on such msgs aoften. Tks.

    Reply
  18. karan aroraMay 22, 2013 at 8:24 PM

    thanks for the great info…

    Reply
  19. Very informative post.
    Good. keep it up.
    Thanks.

    Reply
  20. manish kumarMay 22, 2013 at 8:40 PM

    What are most ueful tips!!!!Thanks

    Reply
  21. BALKRISHNAMay 22, 2013 at 8:59 PM

    THANX FOR IMPORTANT MESSAGE.

    THANX AGAIN

    Reply
  22. Thanks for sending me the chance of frauds if using the ATM deals.
    many more must be extra careful.

    Reply
  23. Interesting & useful article…Thanks..

    Reply
  24. ajay shuklaMay 22, 2013 at 10:20 PM

    thank you for providing information i was not aware

    Reply
  25. Milind TalukdarMay 22, 2013 at 11:02 PM

    Useful information

    Thanks

    Reply
  26. thanks rajpal n thanx all

    Reply
  27. Sanjay sahooMay 23, 2013 at 7:59 AM

    Good Advice, Thanks Madam.

    Reply
  28. Vijay Anand DelhiMay 23, 2013 at 8:23 AM

    One must be very care full while using these facilities.

    Reply
  29. Vijay Anand DelhiMay 23, 2013 at 8:26 AM

    One Must be very Carefull while Using these fcilities.

    Reply
  30. Animesh PatelMay 23, 2013 at 8:35 AM

    Usueful information… thks to Quick Heal as well as Ms. Soumya Patnaik.. regards

    Reply
  31. Thank You God bless you

    Reply
  32. Dr.Nitin OkeMay 23, 2013 at 9:03 AM

    It was really useful perticulerly for people like me who are scared of using net banking. Thanks. But it is difficult to remember different pass words for different operations, any solution?

    Reply
  33. Sunil VinchuMay 23, 2013 at 9:38 AM

    Thanks Maam for enlightening on the ATM frauds as also for the practical suggestions of onling banking. Keep it up and do share such valuable practical experiances. Thanks to Quick Heal to have published the thoughts of Maam. God bless You both Soumya Maam and Quick Heal Team too…!

    Reply
  34. Athar QaziMay 23, 2013 at 10:00 AM

    That piece of information is very useful and I thank Soumya for the same. Keep continuing to publish such useful tips and keep sharing.

    Reply
  35. Dipak GhatageMay 23, 2013 at 10:18 AM

    Very informative,, thanx alot

    Reply
  36. Thnx…Gud Infrmtn

    Reply
  37. Thanks madam for your tips.

    Reply
  38. Suraj SahMay 23, 2013 at 10:37 AM

    Thank’s it’s great information

    Reply
  39. Very Good Info…Wish to share with all

    Reply
  40. Have a Nice day

    Reply
  41. SOURAV MAHESHWARIMay 23, 2013 at 12:08 PM

    THESE TIPS ARE VERY ESSENTIAL AND TO BE KEPT IN MIND ALWAYS WHILE USING ONLINE BANKING, I CARE BUT AFTER READING THIS MESSAGE I FOUND MYSELF IGNORANT ON LOT OF THINGS.
    THANK YOU

    Reply
  42. Manoj TocheMay 23, 2013 at 1:57 PM

    Thanks for this useful information.

    Reply
  43. Manoj TocheMay 23, 2013 at 2:02 PM

    Thanks for very useful information.

    Reply
  44. thanku madam your tips

    Reply
  45. Ansumay DattaMay 23, 2013 at 2:56 PM

    Thanks for the important tips.

    Reply
  46. rakesh navikMay 23, 2013 at 3:00 PM

    thak you so much……….

    Reply
  47. Pravin PataneMay 23, 2013 at 4:03 PM

    good tips regarding online security

    Reply
  48. MrityunjayMay 23, 2013 at 4:09 PM

    Very important info……

    Reply
  49. very useful information provided, thnx a lot mam…..

    Reply
  50. The information is very Vital, the magnetic strip on Dr. or Cr. card have gone out of the US and European country. Why can’t we also go for advance change having chip card instead of magnetic tapes??

    Bank should advance their security updates and alerts on regular basis. All banks should send alerts on cell phones of their customers on regular basis as now a days there are so many junk mails popping up in the box people hardly pay attention on the mails.

    There should be some advance mode of operations while using ATM cards (Dr. or Cr. card) bank should set up additional pin number to punch in when customer is making transaction above ‘X’ sum. This will be like double fire wall. Its mare a suggestion from my side. how it should work I dnt know I am not from IT sector.

    Reply
  51. i buy quick heal total security (5 users) last month..so i installed on 5 pc…but my last pc was damaged due to many things etc..so, can i still use the last key for another pc..plz help..do i need to uninstall first..urgernt..plz help

    Reply
  52. Amit Kumar JhaMay 23, 2013 at 6:47 PM

    Its a great information for ATM USER’S. I will take care of all that information while using ATM CARD.

    THANKS………..

    Reply
  53. Thank you for such a useful information …. really one must take care while making online transactions!

    Reply
  54. good info….thanks

    Reply
  55. M VijaykumarMay 23, 2013 at 9:06 PM

    Good Info On Online Banking, Thanks.

    Reply
  56. vinod athavaleMay 23, 2013 at 9:07 PM

    great… share it to all users… very useful & valuable tips

    Reply
  57. Thanx for useful info.

    Reply
  58. Thanks to Tips for using ATM & Net banking.

    Reply
  59. ——-Attention———–
    Today when i was using my facebook account, i got a web link “http:/xmyvideos.tk/” from my friend saying “You were tagged in a photo”.
    As i clicked on the link a new web page opened in other language and a file started downloading of some 400kb approx. and suddenly google chrome shut down automatically. I already have quickheal installed and updated, it detected the virus but could not do anything. Then the activities that went on my facebook account were not in my control and it automatically forwarded the virus to all other friends. I tried to post it on my timeline, but my account was blocked for two days. I have a report which just popped up as clicked that link, which deactivated security. Even my mobile is not functioning properly when i first tried to go to that link which i received through facebook alerts.Please help me out with this, i think my account has been hacked. I deleted my account immediately after this. What should i do next.
    Report for – Internet Security Virus Protection
    Thursday, 23 May, 2013, Time 20:06:00
    Internet Security Version – 13.00
    Virus database – 23 May 2013

    —————————————————————————————————————–
    Detected: Suspicious in
    C:Program FilesQuick HealQuick Heal Internet SecurityQuarantineDNATmpSytvsm.exe
    Action taken: Access denied

    Reply
  60. Hello Soumya
    Is using a password manager like lastpass etc. safe for online transactions as well as for other security purposes. Are such apps free from the attack of crackers, spyware programs. Which security should be used on a Linux Based OS like Xubuntu? And is the padlock icon only available at MS IE or I should ask which is the most secure browser without affecting performance.

    Reply
    • Hi Deepak

      Password managers like Lastpass and RoboForm are good but not full-proof. With these services you have all the eggs in one basket, which if you realize is both good and bad, if your password manager is compromised, so are your assets. If you are really serious about security, then step-up your game and have your data exported and saved in an encrypted format. However, don’t forget that your passwords need to be really strong in the first place.
      We have a security solution for Linux, do feel free to contact our execs who can help you decide.
      Any webpage that requests for sensitive information should be secured using SSL. So check the web page URL, a secure web URL would begin with ‘https’ then there is the de facto standard among web browsers to display a “lock” icon somewhere in the window of the browser. If you double click this icon you can get the security details of the website. This is important.

      Hope this helps.

      Regards,

      Reply
  61. mam!
    u haven’t cited any measure for pharming…
    nd how does a padlock icon looks like??

    Reply
    • A padlock is nothing but a lock. Whenever you login to a bank’s website look for it in the address bar of the browser, just before the “https”. Get a good av to avoid pharming.

      Reply
  62. Jagdish Singh Gurjar ChapranaMay 24, 2013 at 10:02 AM

    Thank you for giving the very good information for security basis Lot of thanks to you.

    Reply
  63. thanks quickheal……Great

    Reply
  64. thank you quickheal……Great

    Reply
  65. Rizwan AhmadMay 24, 2013 at 1:58 PM

    Thanking you madam for your share suggested to me

    Reply
  66. SHABBIR HUSSAINMay 24, 2013 at 3:05 PM

    Hrarty thanks for giving security alerts.

    Reply
  67. Hardik MiyaniMay 24, 2013 at 3:53 PM

    i’m using quick heal antivirus pro. and my problem is that when i attached a pen drive to the laptop , virus will automatically created the shortcuts for the pen drive data.

    Folder inside the pend rive are not affected but shortcuts created for the single files.
    PLEASE HELP ME…

    Reply
  68. SANJEEV KUMARMay 24, 2013 at 3:53 PM

    Very Precious Knowledge

    Thanks for sharing it’s.

    Reply
  69. Debasis PradhanMay 24, 2013 at 10:13 PM

    Thanks for the information.

    Reply
  70. Shivendra Saini (Sikkim)May 25, 2013 at 9:34 AM

    Thanks for useful information.

    Reply
  71. Prabhat Kumar SinghMay 25, 2013 at 9:53 AM

    A VERY USEFUL TIPS I HAVE RECEIVED FROM HERE DO PASS ON TO OTHER MANY
    USER SO THEY CAN ME MORE ALERT FOR THEIR FUTURE TRANSACTIONS

    THANKS……………….THANKS……………….THANKS

    Reply
  72. GANESH GAIKWADMay 25, 2013 at 3:25 PM

    Very good information for the online banking transaction security that’s the grate information about fake website thanks Quick heal Total Security

    Reply
  73. thanks alot for the info! wish to get other important ones

    Reply
  74. very valuable information for online bankers and ATM holders. Thanks and keep it coming in future.

    Reply
  75. P.N.SHARMAMay 25, 2013 at 6:59 PM

    Thank you.

    Reply
  76. SHYAMAL DEMay 25, 2013 at 10:36 PM

    THANKS, SOUMYAJI
    FOR NEEDFUL INFORMATION.
    YOU HAVE DONE YOUR RESPONSIBILITY.

    WITH REGARDS,
    SHYAMAL

    Reply
  77. khaleedsatMay 26, 2013 at 12:17 AM

    thank you for the help ,thank you madam

    Reply
  78. lots of thanks for give us important feedback……

    Reply
  79. Thank you for providing valuable security tips thanks for your alerts.

    Reply
  80. very good information.thanx

    Reply
  81. thanks

    Reply
  82. RajeshwariMay 26, 2013 at 8:33 PM

    Hi,

    extremely imp info..thanks a lot once again.

    I have some queries

    (1) About “PADLOCK ICON”———
    U have mentioned “Always look for the “padlock” icon in the window of the browser (it won’t be present in the web page itself). ”
    then how can v differentiate bet fake & genuine website as Padlock seems part of the browser?

    (2) about “ONSCREEN KEYBOARD”
    Pl give us a link from where we can download it. I have XP SP2 as OS.

    regards,

    Reply
    • Hi Rajeshwari

      We always try to keep our readers and users well informed, it’s a part of our responsibility as IT security leaders 🙂

      Here are the answers to your queries:

      1) Some Web browsers display a ‘padlock icon’ during a secure transaction (HTTPS) while using secure protocols such as public-key cryptography (transaction that involves two keys, one public and the other private, where one locks and the other unlocks). If you are carrying out an online transaction, and are redirected to your bank’s web page, ensure that the page URL displays https, look for the site’s security information in the address bar.
      Web browsers know how to trust HTTPS websites based on certificate authorities that come pre-installed in their software.
      Any webpage that requests for sensitive information should be secured using SSL. So check the web page URL, a secure web URL would begin with ‘https’ then there is the de facto standard among web browsers to display a “lock” icon somewhere in the window of the browser. If you double click this icon you can get the security details of the website. This is important.
      If you have a good security software installed then it also blocks access to phishing and pharming sites.

      2) For information on virtual keyboard, you can visit http://windows.microsoft.com/en-IN/windows-xp/help/on-screen-keyboard.

      Hope this helps.
      Regards,

      Reply
  83. Very very useful informations. Thanks

    Reply
  84. LINGARAJ S SAJJANARMay 27, 2013 at 9:39 AM

    THANKS TO QUICK HEAL FOR THIS USEFUL INFORMATION ……………..

    Reply
  85. Makarand ThosarMay 27, 2013 at 10:18 AM

    Thanks of sharing.

    Reply
  86. Thanks for the useful information.

    Reply
  87. Steel IndiaMay 27, 2013 at 2:37 PM

    Hi! Madam,
    this is my 6th year using Quick Heal, when i scan,shows that, the effected files are automatically repaired or deleted, there must be an option for manual delete / repair … and 2ndly we need some option for Win32…
    thanks…

    Reply
  88. AJAY KUMAR RAMMay 27, 2013 at 2:38 PM

    THANKS TO QUICK HEAL FOR THIS USEFUL INFORMATION………………………………………………………………………………………………………………………………………..

    Reply
  89. Hifzur RehmanMay 27, 2013 at 3:00 PM

    Thanks for provide a useful tips for ATM & Net Banking

    Thanks Quick Heal

    Reply
  90. bappadittyaMay 27, 2013 at 3:42 PM

    THANKS TO QUICK HEAL FOR THIS USEFUL INFORMATION ……………

    Reply
  91. DEVARSHI SINGHMay 27, 2013 at 3:55 PM

    really helpful and evocating …….

    Reply
  92. bappadittyaMay 27, 2013 at 3:59 PM

    Very very useful informations. Thanks

    Reply
  93. Alok KumarMay 27, 2013 at 10:25 PM

    Thanx a lot for reminding. Actually we know these things but often forget to follow. We need to develop a habit of following these points.

    Reply
  94. thanks to inform….

    Reply
  95. Rakesh KuntalMay 28, 2013 at 1:06 PM

    Thanks this is correct information,this may be very helpful for net banking user plz take care.

    Reply
  96. Asit LahiriMay 28, 2013 at 2:30 PM

    Thanks for information.

    Reply
  97. Mayurkumar JainMay 28, 2013 at 3:15 PM

    Thanks, This is Very Important Information for Online Users.

    Reply
  98. RAMENDRA SUNDAR GHORAIMay 28, 2013 at 4:33 PM

    I have a net banking facility in UNITED BANK OF INDIA, some times when i sign in my account for 4 or more times & then i want to logged out, it could not be logged out succfully, & at this present I can not change my TRANSECTION PASSWORD, When I change my Transection pasword, it shows that your TRANSECTION PASSWORD WAS NOT VALLIED, so how I can change my Transection password? plz. tell me mam.

    Reply
  99. Meghajit SinghMay 28, 2013 at 10:07 PM

    Dear Friends,
    Technology is every man’s bridge to future. From the distress of the present, it is the first, decisive step on the road to recovery. But hope needs a companion. The world is emerging with new millennium. The unprecedented sophistication brought about by the explosion of information technologies and innovation has opened up unlimited possibilities that challenge every imagination mind. A dynamic and instant global connectivity has revolutionized communication and brought (A) and (B) closer on net and the same with (A) to (C) sharing of improve information system, track record or works management online day by day.
    The world is no longer as we perceived it. It has evolved to become more personal and intimate. Technologies has empowered with the means to demand better and faster over the world. Quick Hill Security offers the perfect platforms to Data Security. It provides security solution under one roof.Quick Hill Security is poised for the challenge of this new world in the field of security solution.

    Meghajit Singh

    Reply
  100. THANKS A LOT FOR VERY USEFUL INFORMATION.

    Reply
  101. Kailas MandageMay 29, 2013 at 9:51 AM

    Mostly Useful Blog. Every person Need the read this information and Alert.
    just commonly use online activity are speedly not alert everybody.
    Pl. this every guies online activity Alert.
    Thanks Quickheal.
    Thanks Soumyaji Patnaik. very Gr888 Observation & greatful Tips.
    All the Best ….

    Reply
  102. Nice and Helpful Information.

    Reply
  103. Sowmya BSJune 1, 2013 at 9:00 AM

    Thank you Soumya for useful security tips on usage of ATM and online banking.

    Reply
  104. manish jalanJune 1, 2013 at 11:48 AM

    thanks

    Reply
  105. Very useful & easy to understand information. I know new things about key logging. Keep informing. Thanks

    Reply
  106. Hello,

    A very informative article, very use full for every one, thanks sharing such use full information . i have SBI internet banking , recently i had transferred money to my friend . i went cyber cafe transferred money to my friend . ofter one day my account is hacked some one , if u transfer money through online banking use only home computer.

    Thanks
    Ravi
    saverable.com

    Reply
  107. The awareness is highly comendable. Thank you so very much.

    Reply
  108. its really helpful advise,,, i have an question that some times we use our own computer regularly and we use netbanking site in a tab and also use many social sites, mail accounts, etc. in the same time in different tabs, many time we forget to logout and after some time when we click the netbanking site again to work but it shows that login season expired, so my question is — in this regard any phishing attacks, malware, fraudulent pages, and many more security threats is an effective my computer as well as is there any major problem to be face.

    Reply