Over 51 percent of adults were banking online in 2013 – and the number continues to rise. The days of filling out deposit slips and waiting in long lines are quickly fading away.
Checking statements, depositing paychecks and transferring money can all be done with a few swipes on a smartphone. With this amazing convenience comes a very real danger. With each passing year, the risk of being breached by hackers and fraudsters increases exponentially.
Cyber criminals pose a threat to more than a financial institution’s bottom line, they can also erode at consumer confidence and invite legal action. It is of vital importance for those in the financial services industry to protect themselves and their customers from this imminent threat, and to promote cyber security. Thankfully, there are steps you can take to prevent being compromised. Here are the top five tips to promote safer online banking.
1. Identify internal risks to prevent breaches
In order to be safe, you’ll need to be organised. Your data should be carefully listed, labelled and re-evaluated. Effectively managing your data means you’ll be able to identify…
