internet banking

please I want scholars to express themselves about internet banking, the dangers,best practice etc

thanks

Hi Sose,

Best practice: Don't let anyone know your password and personal information (Badge ID, Gov. ID number etc..).


Here in our country we used two types of PIN codes for 1 bank account:

-->when transacting to a bank, 1 is only used for balance/personal inquiry/services and other
-->other for withdrawal and money transfer, it is done via Bank website (SSL).

Hope this helps.

Cheers!
Gagamboy

For a personal experience, I've been using internet banking for a long time. Practices including monitoring, moving amounts and buying using credit cards (Done that dozens of times). Never, I have noticed a single flaw or problem. Never had to discontinue a credit card. However, one incident is that (after many years of usage) the credit card company canceled my card for no announced reason . I had to renew and get a new card.

From a technical point a view, here is what comes into mind:

1. Never sign in to your banking account using a public/cafe computer unless you make sure passwords are not saved. That you log out. And cookies expired/deleted after session (usually closing the browser should do it)

2. Always buy from legitimate/prestigious/secure selling sites only.

3. Access your online banking Web site by typing the URL into the address bar or by clicking your personal confirmed bookmark, rather than clicking links you might see in an email or an instant message. Such links could lead to phishing sites that can be malicious.

4. Always check for the browser "lock" icon, but understand that this only means a secure SSL communication channel, not necessarily a legitimate web site. Clicking on the lock will typically show you the Website SSL Certificate, if the website/company/bank is really who it is claiming to be, the Certificate will show that and it will show you which authority is confirming this verification. Such as Verisign.

5. Use a strong password, at least eight characters, with a combination of numbers, letters, and punctuation symbols. Don't use the same password for banking that you use for other online accounts. Change your password periodically.

I have to say that with the recent flaws in MD5 hashing algorithm:

www.firewall.cx/modules.php?name=News&am...;order=0&thold=0 www.doxpara.com/md5_someday.pdf

One might start to worry since typical SSL/Certificates use MD5. Still, it's not straight forward to exploit the flaw since it requires a huge amount of cpu power first, then it will require a phishing site or doing a man-in-the-middle attack. Thats as far as I understand it from what security researchers say.

when it comes to internet banking , protection is shared among :

end user
isp
bank itself

any carelessness from any of the above would be fatal

isp cant really do much about it since bank traffic SHOULD be encrypted in some way or another. its mainly just the end user to not give away their passes and the bank to check their website frequently for any hijacking/cracking.

ronni3
check this out
you may reason with me

www.firewall.cx/ftopict-5178.html