5 Recent Security Threats to Internet Banking

In the today’s world, when the use of the internet has become a part of life. Without this service, we will not be satisfactory as long as we are not able to access the web. From social connections to business contacts, everything is now getting based on the use of the internet. Another important feature that has been used by various institutes dealing with financial matters, the feature is known as internet banking or online banking. Hackers are in continuous efforts to crack down the security of such service provided by the officials dealing with such institutes, while many hackers have been successful in breaking the codes and have clearly completed the transactions from the bank account of the victim.

There are various types of attacks made by the hackers in an attempt to get into the victim’s account details and then use those details to empty his victim’s bank account. A few of the attacks that are quite popular recently are discussed below.

  1. Phishing: The term phishing means that the attacker creates a fake page quite similar to the original page, the most common pages duplicated being the pages that contain a form or a particular number of text fields that are required to be filled up with full details in order to proceed to the transaction. Such types of pages are then transmitted to the victim via emails, or other messages or other means on which when a user clicks to open the website. It demands username, password and other details required to go to a bank’s website and the fake page is coded as such that the information filled in the form is sent to the attacker’s email address, from where he can use all the information to get into victim’s account.

Some tips for prevention of the users from such attacks:

  • If you receive any email from any unknown source, do not click on anything in the mail, rather delete the mail immediately

  • In case you find it to be OK, do keep in mind that you will never enter the details of yours, and that page can be fake.

  • Change the passwords for the accounts that you use regularly.

  1. Spyware and adware: Spyware is an application program that once installed in a computer system, which collects your system information secretly and then the information is easily accessed by the hacker who will use it to exploit your data, or it can be used to carry out any transaction without the consent of its real owner.

Adware is a kind of software that the marketing persons use to know the usage statistics and the habits of a person. Then either based on a survey of various users, they can use the information for creating catchy advertisements or they can sell the information to a third party for any purpose of use.

  1. Viruses: A virus is an application program that binds itself to various files present in the system, thus causing the memory problems in any computer. The latest types of viruses being in use are the email viruses that can harm the user by attaching it to its contacts that have been saved in the address book.

  2. Trojans: A Trojan is another category of programs that is destructive in nature, while seems to be a decent type of software. When a Trojan is installed in a system, it gives the access of the system to the hacker as long as the user is online. The hacker can remote control the system and thus can steal any kind of information or data stored in it.

  3. Keyloggers: A keylogger is software that once installed on a system, makes a record of every key pressed on the system. The program stores the sequence of the keys pressed at a time based classification. While a keylogger can be used by the hacker to gain all the important information typed in by the victim, which may also include the passwords that a user has typed anywhere using his keyboard.

The attacks can be minimized by updating your system and software regularly. Avoid installing any third party software while use genuine trusted software only. Use firewall to prevent various attacking programs and do not click on any links from unknown sources or those that seem to be suspicious.

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