We are currently witnessing numerous digital transaction options offered by various banks and new platforms that support digitisation in line with the goals of Oman Vision 2040.
With the aspiration of having a digital footprint in the Arab world, Muscat receiving the title of Arab Digital Capital for 2022, and consistent with Oman Vision 2040 – the slogan ‘A digital future that creates opportunities’, the future will only encourage everyone to use the banking channels that enable financial transactions from anywhere at any time.
While shifting from traditional banking to digital banking, SECURITY is the most important thing while completing online deals and cashless day-to-day transactions. Digital services such as online bill payments, funds transfer using mobile wallet, mobile top ups etc have enabled easy financial activities.
Here are tips that can help protect your information while taking advantage of online financing/banking:
- Regularly update anti-virus/ anti-malware software and applications.
- Avoid the use of public Wi-Fi networks, which are target-rich for cyber thieves.
- Turn off devices when not in use.
- Regularly change passwords, choose strong passwords and have separate passwords for different sites visited frequently.
- Try to recognise and avoid phishing scams and other malware intrusions.
- Install dual-factor authentication/tokens, biometric solutions (eg fingerprint, facial recognition and iris scanning software) and other data encryption software in electronic devices.
- Back up files onto external drive to safely restore, in case of eventuality.
- Only engage with verified social media pages and use official mobile apps linked from an official website.
- Make sure you are dealing with a legitimate banking organisation. Read the ‘about us’ section to familiarise yourself with the institution.
- Read the privacy policies to find out exactly who has access to your personal information.
- Look for the FDIC symbol. All legitimate banks are insured by the Federal Deposit Insurance Corporation.
- Keep your computer and access to it secure.
- Look for the secure padlock in the bottom right of your browser to make sure your information is encrypted.
- Don’t send any account details or PIN numbers via email.
- Reject any email that asks you for your financial information, especially account, PIN and Social Security numbers. Legitimate financial institutions will never ask you for that information via email or by phone.
- Beware of copycat websites. Thieves can be experts at copying names, URLs and web pages of legitimate institutions.
- Make sure you log out of your accounts each time you leave them, especially when you are using public computers.
- Cancel any credit card that has been used fraudulently.
- Ignore the ‘remember my password’ options on shopping and banking websites.
- Never share PIN or confidential information over the phone or Internet. Never share these details with anyone.
- Don’t click on links embedded in emails/social networking sites claiming to be from bank or financial institutions.
- Don’t transfer funds without due validation of the recipient, as funds once transferred cannot be reversed.
- Don’t store sensitive information such as credit card details, mobile banking password and user ID in a separate folder on your phone.
- Don’t forget to inform the bank of changes in mobile number to ensure SMS notifications are not sent to someone else.
- Be cautious while accepting offers such as caller tunes or dialer tunes or opening/downloading emails or attachments from known or unknown sources.
As a responsible cybercitizen, it is important to practise basic preventive measures/precautions/ cyber hygiene.
Safe and cashless banking to you!
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