Internet Banking: Be aware of phishing!

Md Nurul Islam SohelIn developed countries, many, if not most, banking transactions can and do take place on the internet. Most internationally recognised banks provide an internet banking service and there are also some internet-only banking companies who offer all their services online and do not have high street branches. Some of these companies provide a range of accounts to choose from, some specialise in just one. In Bangladesh, this internet banking is spreading day by day specially in the private commercial banks. Though internet banking in our country is offering a limited number of services, it has, no doubt, huge benefits to offer in our day-to-day banking dealings, specially to keep pace with the changing world. One of its prime boons is 'accessibility'. Internet banking is usually accessible 24 hours per day, seven days a week. Another benefit is 'ease and convenience'. Those who find it difficult to get to a branch within working hours and those who travel frequently will find internet banking a practical alternative. Last but not least advantage of this type of modern banking is 'value'. Internet only banking services often offer best value as they have less running costs. But let us not forget nothing is unmixed blessing. With internet accounts, however, securing one's password and other details are critically important, you need to be vigilant about scams such as phishing, where fraudsters pose as your bank and often by email encourage you to give them crucial details of your account. It is always worth checking with the provider to see what measures are in place to reduce the possibilities of this happening. Banks will never usually ask you to confirm any confidential details via an email so you should be suspicious if you receive such an email. There are some examples of this type of fake emails. Scam-1: Dear I-banking Customer! Our technical services department is carrying out a scheduled software upgrade to improve the quality of services for the bank's customers. Clicking on the link below will start the procedure to confirm your account details. https:www.ibblbd.comconfirmprocedureapply.asp These instructions are being sent to all of our customers and they must be carried out. We apologise for your inconvenience and thank you for your cooperation. Scam-2: Dear I-banking Member! During our regular verification of internet banking accounts, we could not verify your current information. Either your information has been changed or incomplete. As a result your access to use our services has been limited. Please update your information. Log on to your JBL online bank account. Confirm your identity as a JBL Online Banking Customer. https:www.ibanking.jbl.comolbLoginMember.do Please fill in the required information. This is required for us to continue to offer a safe and risk free environment. Thank you, The JBL team. Security is an important issue for internet accounts. Internet banking can be highly secure but you need to be aware of safety precautions to take yourself. Always take the time to read the small print, too - it takes a few minutes, but it should help you understand the service. Nothing is hundred per cent secured in this world; yet we have to do our all jobs. Remember you can not avoid risk but minimize it being a prudent and intelligent netizen. Otherwise, your hard earned money may be lost in spite of having the state of art technology in banking sector. ................................................... The writer is with Islami Bank Bangladesh Limited. He may be reached at e-mail : soheljec@yahoo.com