Protecting Your Account: Online Banking

Scammers, hackers, and fraudsters are getting increasingly sophisticated in their attempts to get your money or personal details. ​

While scammers, hackers, fraudsters continue to take advantage of today’s challenging new normal to con people, there are ways to protect against their attacks. Be alert and protect yourself from being a victim by following these tips.

• Transact only with legitimate and trustworthy online stores and vendors. Ensure secure access to you bank's official website and app. Log out after very transaction.
• Activate a 2-step verification process or multi-factor authentication wherein a unique code is sent to your smartphone before you can finalize an online transaction.
• Keep transaction records and regularly review your transaction history.
• Enable text or email alerts for any activity on your accounts.
• Report suspicious account activity to your bank immediately.
• Do not share account information or credit card details with anyone, unless you fully validate and trust their identity.
• Create and use strong passwords:

Mix capital and small letters with numbers and symbols. Use combinations or mnemonics that only you can remember.

Do not use dictionary words, names of persons and places, birthdays, telephone numbers and ID numbers (e.g., SSS, GSIS, TIN).

Do not use your social media passwords as online banking passwords.

Assign a different password for each account. Change your passwords every two months, or as frequent as possible.

Do not share passwords with anyone. Do not write passwords on paper.
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• Stay vigilant in protecting your account from hackers, scammers, and fraudsters!

Online Banking
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It is a convenient way of conducting banking transactions but may expose the bank and its clients to cyber risks. Below are some safety tips to keep in mind when banking online.

Gadgets
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• Update security and anti-virus features of your computer, tablets, and smartphones.
• Upgrade operating systems and apps as soon as new versions are available.
• Download legitimate banking apps only.
• Do not download and install suspicious software, files and email attachments.
• Do not use jail broken or rooted mobile phones or gadgets.
• Do not let other people use your gadgets while logged-in to your bank account.

Connections

• Make sure you have a reliable internet connection to avoid disruption and delays on transactions.
• Avoid using public computers and free wifi connections.
• Always use a virtual private network (VPN) when transacting online.
• Set your WIFI router to the highest security settings. Enable router firewall and encryption. Reduce the WIFI signal range.

Websites

• Type the address or url directly on the address bar instead of clicking links.
• Make sure the website is secure. It should start with https:// and the closed padlock icon is visible.
• Be wary of phishing emails that ask for your personal information or give your links to spoofed or fake websites.
• Clear your browsing history and cache regularly. Delete cookies. Disable plug-ins. Disable the "Save passwords" feature.
• Always log out from websites, social media accounts, email accounts and apps after every use.

For Further Readings About Frauds and Scams:

Watch Out For Frauds And Scams
​How To Spot A Scam? Avoid Getting Scammed!
Facts About Credit Card Frauds And Scams