My bank surely interrupted my blissful siesta this weekend. But rather than cribbing over my lost sleep, I’m tempted to thank it for opening my eyes to a stark threat.
“Please do not click or respond to emails asking for account, card or internet banking details,” my bank messaged me on my mobile phone.
“Our bank will NEVER ask for such info.”
No, this is not just another annoying junk text sent by the bank as part of an aggressive marketing campaign. This is really serious stuff.
According to a report prepared by the UAE Telecommunications Regulatory Authority’s Computer Emergency Response Team (aeCERT), in 2009 the UAE IT infrastructure witnessed 51 cases of e-crime incidents.
A TRA official said last month that one of the most growing cyber attacks on a global scale last year included “Phishing Emails”.
“Phishing is typically carried out by e-mail or instant messaging. People receiving phishing emails will be asked to update their profiles including usernames and passwords by providing a link to the fake bank website. Once a user clicks on the link provided by the phishing email, he or she is directed to a website, much similar to their banks’ website, which from many cannot be detected as a fraud site. Once the information is updated by the user, hackers get immediate access to their online banking accounts,” the TRA website warns.
And this is why the SMS alert from our bank matters – if the custodians of our precious hard-earned money are asking us to stay extra-alert – we should. If we naively respond to some innocuous-looking mail popping into our Inbox and then lose all our fortune, we would be in no position to blame it on our bank.
The TRA has urged users to be vigilant and exercise intense caution at all times.
“Cyber hackers sending and using phishing emails relay mostly on deceiving the user. However banks offering online banking and financial services are investing heavily in securing their ICT infrastructure to prevent hacking of any kind,” the TRA claims.
While the bank does its crackdown, here are ten things the online-banking user can do:
1. Activate your mobile banking alerts - to be sent after each transaction. This way, you can revert back to the bank immediately in case any unauthorised transaction has been processed through your account.
2. Make sure your computer is equipped with firewalls, anti-virus and anti-spyware softwares.
3. Avoid accessing your online banking accounts from cybercafés or public places including your offices.
4. Do not leave your computers or laptops unattended while you are in the account. (most of the banks automatically sign you out if your account is idle for around 20 minutes)
5. Do not open/ download mails or attachments from unknown email addresses.
6. In case you have the habit of visiting your spam mails to ensure that communications from your acquaintances are not diverted there, ignore other spam mails – your email service provider has already qualified them aside as a threat.
7. Do not visit any pornographic websites – apart from being illegal in the UAE, they are also dangerous and insecure from online safety point of view.
8. Do not place any crucial/ sensitive information on your shared folders.
9. Set a complicated password – which has not been used for any other online account before.
10. Importantly, in case you want to enter your online banking account, do not do so through any email you receive from the bank. Do so from a fresh tab or a fresh browser by entering the bank’s main website first. Remember the SMS from the bank - “Please do not click or respond to emails asking for account, card or internet banking details. The bank will NEVER ask for such info.”
In case you suspect a serious fraud in your online account – immediately call the bank’s call centre, report the unauthorised transaction (preferably visit the bank personally as soon as possible to file a written complaint), withdraw as much money as you can at that point of time, reset your online account password immediately (or perhaps ask your bank to deactivate the online accounts), freeze any other accounts with the bank in case the bank officers suggest, and go to the police if the matter involves huge amount of money. Meanwhile, the bank’s anti-fraud cell will investigate the matter.
If you are fortunate, the bank (or the police) might be able to retrieve all your money. But if not…?
Now that a really scary thought.
I hope you understand why I want to thank my bank for disturbing my siesta.