Risk for online banking.

Online banking allows you to perform transaction online, check your account balance online, pay bills, manage your credit card accounts, control investment without stepping your foot in a branch. But, do you know the moment you use online banking might get hacked by someone?

Let’s see what is the risk for online banking.

• Phishing.

Cyber criminals probably create a fake email address which looks closely similar to yours able to use whatever personal details to do banking transaction. Beware when you receive this kind of email especially when you are asked to provide some sensitive matter such as your password or credit amount. Remember that a bank or financial institution will never ask this kind of thing via e-mail. 

• Malware

Malware is malicious software that cyber criminals spread online and get into your computer. It can:

Steal your account information by capturing your keystrokes, such as your credit card number that you entered or the image that you choose to authenticate your identity. It can also hijack your account and transfer all your funds without you knowing.

• Pharming 

Cyber criminals involve redirecting your access to a legitimate website to a fake website that looks like the genuine one but eventually it is not. it may looks very similar to your online banking site. it includes extra field to provide your personal details such as date of birth, mother's maiden name. Without realizing it, you will carelessly submit the information directly where hacker received. 

So, always look for the "lock" icon. 

Written By: 

Phang Yong Hong

Bachelor of Public Relations (Honours)

Tunku Abdul Rahman University College