...and 3 reasons not toMay 26, 2015 9:00
How to avoid being ‘phish’ bait
Following the alarming rise in internet fraud and ‘phishing’ attacks in the Middle East, here’s some advice on protecting yourself when banking online.
April 10, 2010 11:12 by Katherine Azmeh
Another step is to ask your bank if they guarantee to refund your money in the unlikely event you experience fraud with online banking. Many international banks offer guarantees of this nature, including loss of interest, insufficient funds and overdraft charges, provided clients follow bank guidelines regarding safe online banking practices and timely reporting.
If you plan to utilize online banking services, protect yourself by ensuring that your anti-virus and anti-spyware is up to date. Other tips include: installing and activate a personal firewall and make sure your operating system is current; regularly monitoring your account activity and statements and reporting any discrepancies immediately; choosing strong passwords and safeguarding your login credentials.
Be careful about the websites you visit. Banks and financial services providers stress that they do not ask clients to divulge passwords or other personal security details. Do not leave your computer unattended while banking, and utilize your bank’s internet help desk if you suspect foul play.
Banks must provide the support of sophisticated software protection and surveillance systems if financial institutions in the region are to build and maintain investor confidence in the banking sector. And banking customers must do their part to protect their information from fraudsters.