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The banking industry in Nigeria is undergoing series of disruption, at the same time cyber-attack is on the increase. Cyber criminals have some level of power to launch different attacks, they identify loopholes and try to explore them.

Loads of transaction takes place without necessarily visiting the bank, people are using their internet banking, while some use mobile banking applications. Banks already know that these innovations have security implications, which is why they are also making efforts to deploy robust tech security solutions.

Usually, the consumers bear the burden; they are always losing money under the custody of the banks. There are many reports on banks losing cash to cyber-attacks in Nigeria, and that doesn’t resonate well with the customers.

These cyber-criminals deploy different methods and strategies to launch their attacks. That is why it’s imperative for the customers to be security conscious while carrying out these transactions on the web or even their smartphones.

According to reliable reports, Nigerian Deposit Money Banks, DMBs, lost N2.19 billion to fraudsters through electronic channels in 2016 fiscal period

Let me shock you a bit, do you realize that when using the mobile banking apps, your data stored on your device can still be compromised or hacked via connections that are not safe.

To put simply, there are lots of security vulnerabilities associated with the online banking.

However, here are some tips you could apply to curb the possibilities of getting your data and privacy compromised.

1) Don’t go Public: Avoid accessing your banking details using computers in the office, cybercafe or somebody’s.

2) Antivirus: It is advisable to download, install and use good antivirus or anti-malware.

3) Frequent Change of Password: Do password rotation, in other words, keep changing the password.

4) Use Secured Browser: It is advisable to access banking from a sandboxed browser.

Alternatively, the chrome where you have incognitive mode its safe.

5) Ensure Complete Privacy: Do not reveal your banking details to your bank account manager, or any team member from your bank.

6) Be Careful Online Transaction: Do not trust any bank website without going through the reviews or contacting them before doing any online transaction.

Finally, check where you’re erring and start doing the right thing. You don’t have to be a victim before doing the needful.

Thanks for Contributing!