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Ensuring Online Banking Security

Banking and Bank Security

Banking is a flourishing sector. Even with the economic crisis going on, banking is still going strong. People rely on banks for a number of their financial dealings. Banks handle their pays and even their mortgages. So, we have to depend on banks a great deal. To offer more facilities to the people, banks are moving towards online banking services. While on the one hand, this has provided lots of comfort and ease-of-use to the people, it has created some problems too. Security is the primary concern that people have with this online banking trend. They are still sceptical of its safety.

Why Is Banking Security Important

Ensuring banking security is extremely crucial because banks are holders of the financial information of their customers. If someone is able to get their hands on this information then he can use it for his gains. Hackers have had plenty of success in this regard. Ever since the online banking systems has been introduced, there have been a number of reports of hackers getting access to financial information of bank customers which was later used for doing banking fraud. This is the reason why people are still no convinced whether online banking is the right way to go. However, banks are trying to sure up banking security to make sure that such incidents don’t happen frequently. If you are looking for secure online banking services then Credicorp Bank is your best available choice.

Methods Used for Ensuring Banking Security

Seeing the potential dangers that breaches in banking security can cause to the integrity of a bank, the banking industry has come up with methods for ensuring their online security. The following are some of the techniques that they are using to make sure that their customer data remains safe from prying eyes.

 

Antivirus Protection

Hackers usually make use of viruses for breaching the security of the banks. These viruses usually infect the online system of the banks and create loop-holes through which the hacker can enter the system without getting detected to steal confidential information of bank account holders. Using a good antivirus can help banks in ensuring that these viruses aren’t allowed to breach the security network of the bank. Antivirus programs need to be updated regularly though or they lose their ability to stop viruses from spreading. The reason for this is that new viruses get developed everyday by hackers and in order to combat them, the antivirus need to be updated too.

 

 

SSL Encryption

Secure Socket Layer or SSL encryption is another method that is being used by banks for ensuring banking security. It helps in creating a secure connection between the bank’s website and the browser of the customer. This way, the hackers are not able to see what is being done by the customers on the bank’s website. Thus, the SSL encryption ensures that the customers can login to their online banking accounts without fear. The use of SSL encryption has helped a great deal in increasing the confidence of the people in the online banking system. People nowadays take comfort in the fact that the SSL encryption used by banks would ensure that their confidential information does not go into the wrong hands.

Firewalls

Firewalls are an excellent means of blocking unauthorized access to a network. Banks have started using firewalls to ensure that the hackers aren’t able to access their networks. These firewalls that banks are using are highly sophisticated and make sure that no unidentified individual or network is allowed to enter the network. Thus, with the hackers kept at bay, the ensuring banking security becomes that much easier for the banks. However, firewalls need upgrades too as hackers are constantly trying to find a way pass them. Therefore, the IT departments of the banks work round-the-clock to ensure that their firewalls remain up-to-date and don’t falter when a hacker attacks. 

Cookies

Cookies are also among the methods that banks are using to ensure online banking security. In this technique, a text file (cookie) is stored on the computer of the customer by the bank that is accessing his account. This text file is later on used as an identification proof by the bank’s system when you try to login to your account using your computer again. However, if you ever erase these cookies or try to login using another computer then you will need to provide additional login information to access your account. Cookies aren’t the most sophisticated method of banking security but they work nonetheless.

 

 

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