How to avoid getting hacked via internet banking in 2024

Internet banking is nothing but banking transactions done over the internet. On the one hand, this saves time and is not very convenient for customers. On the other hand, it really gives criminals other options outside of traditional companies. That’s why we have really researched the issue of security or danger in online banking.

Banks are slowly replacing analog switches. According to the Federal Association for Information Technologies, Communications and Media (Bitkom), 78% of people over the age of 16 in Germany and US will use online commerce by 2025.

Moreover, banking transactions made with smartphones are increasing in volume. Banks responded. All major financial institutions now offer online banking options. Smart mobile-only banks like N26 and Revolut are also successful.

It is very convenient that online work can be done easily from home and is not affected by opening hours. But for some users, digital marketing still has an untrustworthy reputation.

They worry that hackers will use Trojans to access company data or use viruses to compromise their computers and download files. Are these concerns true? What options can consumers use to ensure security when doing business online?

Security of online trading

The security of online trading mostly depends on the security level of the bank and the users. In principle, special care is needed due to the special information it contains. That’s why hackers like to target digital businesses.

You need to distinguish between the security of the bank’s side and the security of your own device. For example, if you use your bank’s website for online transactions through your browser, the responsibility for the security of the information sent also lies there. However, your personal computer or WLAN connection can also be the target of hackers.

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Phishing emails

Phishing emails, manipulated websites, etc. It causes dangers that do not exist in simulated banking. Phishing emails are fake emails that appear legitimate at first glance, such as messages from a bank.

The aim is to control beneficiaries from voluntarily handing over sensitive banking information. This also leads to a manipulated website modeled after the bank’s website. In principle, this does not make doing business online any more dangerous than doing business in a bank.

As long as users comply with certain behaviors and security measures, they can safely transact in online banking without worrying about their information.

General Security Precautions to follow from now.

The best protection for online banking security is careful user behavior and appropriate skepticism. It is unlikely that your account could be hacked over an Internet connection without your intervention. This is especially true if you follow these rules:

Use a secure network. As a rule, wired access via LAN provides less external resistance than a WLAN connection. If you access the internet via WiFi, it’s best to use your home network for online business.

Do not use mobile banking on public networks! Hackers can easily access the information here.

Set a secure password for your internet banking. You can find more information in this paddedvibez article link on password security.

If you have not installed antivirus protection. If you only use mobile banking, it’s still worth protecting your smartphone. Then don’t forget to update your antivirus protection regularly.

Please beware of emails from a sender you do not recognize and/or that asks you to enter your login ID. Remember to check the source of the email and do not click on suspicious links. If you’re not sure whether the email is actually from your bank, it’s best to ask directly.

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Set a limit (maximum transfer amount) to limit losses in emergency situations.

Switch to Internet Banking using the secure TAN program. We explain the available methods in our TAN topic via our paddedvibez community.  TAN is often used together with PIN. Make sure you maintain both numbers correctly.

If you want to be on the safe side, you can do all your online transactions in the so-called incognito mode, for example using the incognito tab that is built on most browsers like chrome, Firefox,  kiwi browser and all that . Alternatively, you can clear the cache after each operation.

Internet banking is quite safe if users follow certain rules. Cases of hackers controlling access to information and money theft are often associated only with inexperienced behavior. So, two-factor authentication provided by your bank, modern TAN procedures, etc. Use protection.

Also, remember to always have a secure Wi-Fi network and protect it with a strong password when doing your online work. This way, you don’t have to worry about the security of your bank information when doing business online.

With these measures you can be rest assured that your internet security is well protected and secured.

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