How To

How to protect your online bank account from phishing attacks

February 9, 2022
Updated: March 7, 2024 at 4:55 PM

If you still think that your bank account, emails, and statements are completely safe, time to get a reality check now! The increasing habit of online money transfers to friends and family via bank is gaining the attention of the fraudsters commencing phishing activities. From basic net banking to big business transactions, securing your online bank account is now possible with some expert ways unleashed below.

Are cybercriminals bothering you to retain bank account safety? Is it possible to avoid phishing attacks? Screening and evaluating the fraudulent activities of the scammers who are trying to unveil your credentials with a malicious intention is essential. Do you know about phishing? It’s a vulnerable way adopted by tech-savvy cybercrooks to procure money from individual accounts by stealing their private data and sensitive details.

What are phishing attacks?

It’s a gimmick played by sharp and shrewd minds to abstract your personal details like passwords, credentials, credit card data, and bank account details. Phishing refers to attacks made for a data breach to unlock your online wallets and drain away from the bankrolls with a matter of a few clicks. That can be a horrible nightmare one would never wish to face!

Have you ever received a skeptical mail or message validating a recent transaction or purchase? Clicking it takes you to a page where you are quickly asked to enter credentials and gain luring rewards or prizes. Beware! That’s a phishing trap, and it would merely nullify your savings, leaving you in disgust and agony.

When someone prompts you to add any credentials through an unsolicited call or email, get alarmed about a potential threat that might drain you away completely. Online banking is now like binging on your favorite show that can be done at the ease of your home couch.

It’s fascinating for cybercriminals to create mental illusions and deliberately steal information and data online. Impromptu swipes, confirmation emails, tricky messages, fake phone calls, and an array of other techniques indicate that you are in financial trouble.

Six ways to save an online bank account from phishing sttacks

Is it possible to minimize the odds of being a bank fraud victim? Certainly yes, with the proper vigilance and some expert tips slated down below.

Use Strong Passwords
This is your online bank account’s first and most crucial security layer. Hacking the password credentials can lead to a massive data breach, and hackers are pro in it. In addition, many cybercriminals optimize the dark web and other software tools to identify the account credentials.

Keeping simple passwords like mobile number, date of birth, kids name, or numerical order is readily detectable in the recent social media era. However, do you know that paraphrasing passwords leads to an account hack with different symbols or characters? So be very creative and think out-of-the-box combinations beyond the hackers’ sight.
Go for Two-factor Authentication
How about shielding your bank account with another layer for better combat? Enabling the two-factor authentication adds up to the device’s security, thus obstructing the revelation of essential data. When bad guys try to syndicate combinations for iCloud accounts, this step fails them to reach your device or access private information.

Two-factor authentication is combined account security where the user cannot just access the data with passcode, password, fingerprint, or biometric logins. It also prompts you to add a one-time code sent to the registered mobile device or the smartphone. Though this is also not 100% effective, it can assure a better security level for your accounts.
Invest in a Good Antimalware
Do you keep the main door of your house open unlocked ever? No, right, and the same implies for the bank account security. Invaders try to seize the system through malicious software for stealing data or breaking the security layer with some viruses.

Phishing attacks are vulnerable and can occur with an account hack by retrieving data through the operating system. The release of any crucial data can reveal sensitive information that’s flagged as very important. Installation of good and reputed antimalware prevents cyber threats and keeps your account safe from such cyber predators to a great extent.
Keep a Check on Bank Statements for Fraud Detection
If you have bank accounts with reputed and government banks or credit card companies, they send regular notifications on expenses made through your account. Instant pop-up text appears on your mobile device indicating that someone might have succumbed to your account.

Suspicious purchase bills or fund transfers from weird locations and sources hint to you about the significant threat. You can stop it immediately with a prompt answer to the bank message and then review bank statements for complete data. Inculcate this practice to safeguard from them any major problem in the future. Get in touch with your banks to resolve any doubts or queries then and there.
Avoid Using Public Wi-Fi Hotspot
Carrying out financial transactions like trading, online shopping, or banking at the airport lounge or bank is pretty standard. However, this gives one more attempt to the cybercriminals to detect your credentials and make big hacks.

Using a device through Wi-Fi at hotels, coffee shops, or libraries is an everyday regime but avoid making transactions through such locations. Unless you have a trusted or secured network, transactions can attract many potential risks. Tapping calls and tracking crucial data is easily possible in this digital age at such sensitive spots. Prevention is the only way to stay very safe in such a scenario.
Lock Your Devices
Cybercriminals are pretty savvy in analyzing the ways to make phishing attacks on your bank accounts. Adding a solid passcode for your device would prevent strangers from intervening in your private data. Imagine if you mistakenly happen to leave your phone at the coffee shop and realize it after crossing a mile ahead?

A stranger can breach the privacy protocols and fetch all financial data within seconds, leading to easy bank frauds. This is avoidable if you have biometrics, sensors, fingerprints, and other multiple safety ways to secure devices and then codes for your banking apps. Multiple layers of authentication can result in a safe and secured financial data system.

Don’t let them Phish you out!

Cybercriminals are upscaling their frauds into multiple channels and getting smarter with technological advancements, leading to more scams. Do you wish to escape this phishing funnel with the alertness of mind and the proper safety measures?

Follow the above ways to assure the safety of your bank account and be on the front foot to combat the ferocious minds of cybercriminals targeting your financial sanity. Rule out preventive techniques and ensure a safe environment for commencing your banking activities online.