Safeguarding Your Online Banking: Best Practices

Stay secure while navigating the digital world. Navigating the web entails various risks. Here are fundamental guidelines to safeguard your personal data and finances.

For additional guidance, tips, and insights on computer security, visit the CSA – Singapore Government Agency website.

The Cyber Security Agency of Singapore (CSA) was formed in 2015 and has been given the task of protecting Singapore’s cyberspace. It is part of the Prime Minister’s Office and is managed by the Ministry of Communications and Information.

Best practice for Cyber security

1, Secure your computer
Ensure your computer’s security by installing and consistently updating antivirus and firewall software to the latest versions. This proactive measure enhances file protection, as the latest versions are equipped to detect and intercept emerging threats and viruses circulating on the internet, even those that have surfaced within the past few days.

2, Secure your mobile phone
Extend your security measures to your mobile device as well. Explore the plethora of security apps offered for free or at a nominal cost in any mobile app store.

3, Verify the origin of applications
Obtain applications exclusively from official stores on your phone, such as the App Store or Google Play. Prior to downloading, scrutinize the app’s reviews and ratings, and consider being among the early adopters if possible.

4, Protect your credentials
Exercise caution with your login and personal information. Refrain from sharing them with anyone, avoid storing them on computers connected to public networks or at school, and exclusively input them on secure servers.

5, PIN as in the eye of the head
If your PIN is your birthdate or simply “1234,” it’s crucial to change it immediately and commit it to memory. If you tend to forget things easily, ensure to keep your PIN securely hidden; never leave it near your payment card and safeguard it as diligently as you would your most valuable possession.

6, Have a secure password
Ensure your passwords are robust and secure by following these guidelines: they should be unpredictable (avoid using personal information like your name), incorporate a mix of uppercase and lowercase letters, numbers, and special characters, and be resistant to dictionary-based attacks. Most importantly, each password must be unique; never reuse passwords across different services such as social networks, email, and banking accounts. Avoid sharing passwords with anyone or storing them in your browser. If necessary, note them down, but keep them in a secure location like a safe. Whenever possible, opt for two-factor authentication for added security.

7, Beware of unknown attachments
Exercise caution when dealing with emails: refrain from opening emails or attachments from unfamiliar or suspicious senders, and avoid clicking on any links embedded within such emails. Always scrutinize the sender’s email address and check for any misspellings or irregularities. Immediately discard any emails that appear to be fraudulent, especially those regarding fake contests, prizes, or urgent financial matters, by marking them as spam.

8, Buy only from verified online sellers
Ensure secure online transactions by purchasing from reputable and verified sellers. Look for the locked padlock icon next to their website URLs, indicating a secure connection without any warnings. This practice is especially crucial when logging into websites, particularly banking platforms. When dealing with private advertisers or lesser-known sellers, take the time to read reviews to gauge their credibility and reliability.

9, Read the bank’s notice
Be vigilant not only with your banking notifications but also those on your computer. Dismissing notifications hastily could lead to overlooking important messages from your bank, such as alerts regarding potential hacker attacks. Take heed of these notifications to safeguard yourself and your account effectively.

10, Notify Walletory Pte Ltd
If you harbor even the faintest suspicion of any irregularities or anomalies concerning your account, please reach out to Walletory Pte Ltd immediately. Through the provided contact information, our customer support team can promptly investigate your account and take necessary actions such as blocking unauthorized orders.



Image provided by FlyD