Online banking: How secure is it?

Discussion in 'Off-Topic' started by Sefie, Feb 10, 2016.

  1. Sefie

    Sefie

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    The latest bank in the UK to fall victim to a distributed denial of service (DDoS) attack was HSBC. It claimed that no customer data was compromised. In July last year, RBS and NatWest were also hit by DDoS attacks, which flooded their websites with traffic, temporarily shutting them down. This resulted in bad publicity and complaints from many customers. Fortunately, customer accounts were not compromised so the bad publicity was all the damage the attack caused.

    DDoS attacks, where bad guys flood a website with so much work that they fold under the pressure, aren’t even strictly a security issue on their own. Unless the DDoS is part of a recipe to steal stuff, it’s a nuisance that is more about someone flexing their muscles than doing damage. Luckily in the cases of RBS, NatWest, and HSBC, no data was stolen; however, they do raise the question of whether online banking is secure. So is there a security issue at hand?

    http://betanews.com/2016/02/08/online-banking-secure/
     
    Sefie, Feb 10, 2016
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  2. Sefie

    something back

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    I try to avoid online banking at every turn, the latest scam regarding a UK online bank is this:

    http://www.dailymail.co.uk/money/sa...scam-saw-one-Santander-customer-lose-23k.html

    While the banks try their best to avoid payouts then it's not for me.

    The UK government is trying to have the whole UK population to only communicate with it online,
    this includes all your info online Example, health records, all your tax office records this would mean all your bank accounts online, driver license,passports, national insurance I.D. And so on.

    It takes one reasonable hacker to take over your whole life, NO THANKS.

    Computers are handy, but without proper checks, and balances dangerous.

    Technology at a distance for me sorry.
     
    something back, Feb 10, 2016
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  3. Sefie

    IcyBC

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    This is one reason I drag out as long as possible using the online banking, but since last year I don't have a choice of not doing it. I still don't use the automatic payments or over the phone payments. There are so many issues that I am concerning especially about the privacy and personal detail information. I hope my bank is secure and safe.
     
    IcyBC, Feb 10, 2016
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  4. Sefie

    ad.mike2016

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    I use online banking all the time and never had an issue with it. I only access my accounts when I am on a secure network and never do it in a public place where there is no security and multiple other users on the network at the same time. There are many advantages to using online banking and I do not think I could give it up.
     
    ad.mike2016, Aug 12, 2016
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  5. Sefie

    Novelangel

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    Same here. I do almost all of my banking online, but never on my phone, and I never save my banking passwords on any computer, including my own. Plus, my bank is very much on top of things, constantly updating their website, and improving security. At least once a month or so, they shut down the online service, (usually at night when peeps are asleep) and repair any security issues that might have emerged. So far, I have had no problems with the service and I prefer it to going inside the bank where I have to fill out a million forms just to put money into an account, or take money out. I use the ATM, or go online, and avoid the pitfalls of filling out stupid forms. My bank hires people who will choke you verbally if you so much as make a mistake on one of those forms, so online banking is definitely for me.
     
    Novelangel, Aug 15, 2016
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  6. Sefie

    ashley0323

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    I try to avoid any kind of banking. Hackers can get into anything these days! If a hacker makes his way into the servers for the bank, all of your info is there for him to see. Heck, you can even withdraw money without not knowing if there is a card logger in it when you swipe your card.
     
    ashley0323, Aug 16, 2016
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  7. Sefie

    Corzhens

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    I work in a bank and we have an online banking system that I'd say is secured (although I cannot guarantee that). When you enter the website, you are asked to register. For registered depositors, there was the usual user name and password. As an additional security, a passcode is texted on your (registered) phone which you should enter in the prompt otherwise your log in is not completed. That passcode is one good way of ascertaining that the user is the actual depositor based on the phone number that he had supplied during the registration.
     
    Corzhens, Aug 16, 2016
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  8. Sefie

    janemariesayed

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    Personally, I prefer to do my banking at the bank as I am not really trusting of doing it online. People seem to get hacked all the time, even my gmail account is always having someone from Japan or India trying to get into my mail account. I think it is a good idea, and they claim it is very secure but I just find it difficult to really believe it to be the case.
     
    janemariesayed, Sep 11, 2016
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  9. Sefie

    Hermitkrab

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    I do all my banking online without issues. I did set up 2 factor authentication with the 2 banks I use. That means when I try to log on, I'm texted a code to my cell phone that needs to be inputted first. It's therefore impossible for anyone else to log into my account since they don't obviously have my phone,
     
    Hermitkrab, Aug 19, 2021
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