Know the Risks of Using ATM and Online Banking

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.

Soumya Patnaik

Soumya Patnaik

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Naik Satish
Naik Satish
7 years ago

good post regarding security tip..

Bishnupada Ghosh
Bishnupada Ghosh
7 years ago

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.

Arpan Bhattacharya
Arpan Bhattacharya
7 years ago

great info

Anjay Kumar
Anjay Kumar
7 years ago

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

Pranav Dave
Pranav Dave
7 years ago

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

ROHIT
ROHIT
7 years ago

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

Swapnil
Swapnil
7 years ago

Thanks Soumya, for Nice and Helpful Information.

Mohan
Mohan
7 years ago

Very informative. Thanks
Mohan

bimbisar
bimbisar
7 years ago

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

Sheetal Maurya
Sheetal Maurya
7 years ago

great info thanks

Amol Sagvekar
Amol Sagvekar
7 years ago

Thank You Mam! A very Useful Tip.

Kedar Krishna Das
Kedar Krishna Das
7 years ago

Thank you so much Soumya…its really useful
Regards Kedar

S.S. Rajpal
S.S. Rajpal
7 years ago

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… Read more »

DR. AMITAVA DESARKAR
DR. AMITAVA DESARKAR
7 years ago
Reply to  S.S. Rajpal

Good suggestion. Thanks.

Alok Kumar
Alok Kumar
7 years ago
Reply to  S.S. Rajpal

Correct… i am of the same opinion.I surely do this always.This is quite safe.

Parikshit Menon
Parikshit Menon
7 years ago

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

narasimha rao k l
narasimha rao k l
7 years ago

very good information and keep on informing the latest threats

Milind Pandit
Milind Pandit
7 years ago

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.

Dr. H.Basumata
Dr. H.Basumata
7 years ago

Thank you very much for the most useful tips…

krishnan
krishnan
7 years ago

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

karan arora
karan arora
7 years ago

thanks for the great info…

Shashi
Shashi
7 years ago

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

manish kumar
manish kumar
7 years ago

What are most ueful tips!!!!Thanks

BALKRISHNA
BALKRISHNA
7 years ago

THANX FOR IMPORTANT MESSAGE.

THANX AGAIN

susil
susil
7 years ago

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

Anirudha
Anirudha
7 years ago

Interesting & useful article…Thanks..

ajay shukla
ajay shukla
7 years ago

thank you for providing information i was not aware

Milind Talukdar
Milind Talukdar
7 years ago

Useful information

Thanks

rant
rant
7 years ago

thanks rajpal n thanx all

Sanjay sahoo
Sanjay sahoo
7 years ago

Good Advice, Thanks Madam.

Vijay Anand Delhi
Vijay Anand Delhi
7 years ago

One must be very care full while using these facilities.

Vijay Anand Delhi
Vijay Anand Delhi
7 years ago

One Must be very Carefull while Using these fcilities.

Animesh Patel
Animesh Patel
7 years ago

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

Abani
Abani
7 years ago

Thank You God bless you

Dr.Nitin Oke
Dr.Nitin Oke
7 years ago

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?

Sunil Vinchu
Sunil Vinchu
7 years ago

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…!

Athar Qazi
Athar Qazi
7 years ago

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

Dipak Ghatage
Dipak Ghatage
7 years ago

Very informative,, thanx alot

Annaya
Annaya
7 years ago

Thnx…Gud Infrmtn

RAVI
RAVI
7 years ago

Thanks madam for your tips.

Suraj Sah
Suraj Sah
7 years ago

Thank’s it’s great information

Mahesh
Mahesh
7 years ago

Very Good Info…Wish to share with all

Mahesh
Mahesh
7 years ago

Have a Nice day

SOURAV MAHESHWARI
SOURAV MAHESHWARI
7 years ago

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

Manoj Toche
Manoj Toche
7 years ago

Thanks for this useful information.

Manoj Toche
Manoj Toche
7 years ago

Thanks for very useful information.

ashish
ashish
7 years ago

thanku madam your tips

Ansumay Datta
Ansumay Datta
7 years ago

Thanks for the important tips.

rakesh navik
rakesh navik
7 years ago

thak you so much……….

Pravin Patane
Pravin Patane
7 years ago

good tips regarding online security

Mrityunjay
Mrityunjay
7 years ago

Very important info……

Satish
Satish
7 years ago

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

HR
HR
7 years ago

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)… Read more »

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