What are the things we should keep in mind at time of Internet Banking?
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Answer:
Trojan: Trojan is an internet virus that gets installed in your computer while browsing internet or downloading from unsecured websites. . Once a Trojan is installed in your system the malware monitors your online activities and reads/steals sensitive information such as passwords and credit card numbers etc.
Phishing Emails: As the name suggests, these are fraudulent emails, claiming to come from the authorised channel. Further explaining the Phishing scams, Deepak Kinger, Vice President, Banking and Financial Services, VirtusaPolaris, a financial technology firm serving leading software vendors in banking & financial services, said, "Phishing involves installing 'malware' or 'spyware' that reads sensitive client information including client details, passwords and PINs at the point of contact on channel. This channel could be an ATM, internet banking site, mobile banking app or the payment interface on an ecommerce site."
Money mule / Additional income email scam: Money Mules are unaware victims, invariably job-seekers and those seeking to make easy-money online. They are lured by fraudsters posing as coming from companies with websites and offering them high commission to get a small job done or huge salary for a part time work from home job.
Such fraudsters will either ask you for an upfront payment as an investment, that will get you stupendous returns or offer you a commission to make transactions using your account. He will ask for your bank account details and deposit money in it and then further direct you to transfer it to accounts of other money mules on commission basis. This transferring of funds could lead you into criminal misdemeanours.
Speaking about the risks involved in using smart phones, Kinger said, "In today's context, the threat of fraud happening on the mobile channel is a lot higher than the other channels. Many users install apps on their phones that grant unconditional access to their data and other apps installed on the phone. These 'malware' apps can then monitor your inputs on a mobile banking app for example and retrieve sensitive data to be passed on to the app owner."