Banking and Protection Without Banks and Help From Others

McAfee is known for offering the best antivirus solutions to reduce and safeguard the digital footprints of their clients. The brand stands on the foundation of togetherness, and that belief for a time when there will be no threats online, or otherwise.

The functioning of the company matches its vision for cooperation, unity, and contribution from each member of society and that is why every member at McAfee is encouraged and given the authority to help society in any way they can.

One of which, are the blogs by their members that McAfee publishes on its official blog site. Here, in this read, you’ll get to know about online banking, the frauds that come along, and ways to prevent them.

So, let’s begin with the idea of banking without a bank.

Entering the Online Banking Era

Before learning about McAfee’s protection options, here’s what online banking is. It is a system that allows the customers of a bank or a financial institution to make a range of financial transactions through their online websites or portals.

But, you probably are familiar with the term- online banking as the world thrives on easy cashless transactions over the years. So, let’s jump ahead and take a quick look at the benefits that come with it:

  • Convenience- It is the most convenient route to choose when it comes to performing any banking task.
  • All-day access-Unlike, banks and financial institutions, online banking do not have opening hours. You can access it any time of the day for making any transaction.
  • Fund Transfer- You can transfer money directly to your peers’ accounts, and this goes for your vendors, stores, restaurants, etc.
  • Keep track of your activities- You can check your transaction history along with your existing account balance whenever you want.
  • Bank Statements- You can download and even print your bank statements with significant details (such as amount, recipient, time, date and even location).

Yes, there are great benefits of online banking however, more transactions would mean more networks, and thus, your bank accounts become vulnerable to threats of fraud.

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And McAfee being a company with the sole motive of protecting with online threats thought it was time to help you understand that you can protect your bank accounts without any help.

Simple and Effective Take Suggested by Mcafee

A member of the McAfee team, who serves as the Senior Vice President of the Consumer Marketing team, had a few things in mind that, she is sure, would help in preventing online banking frauds and save you and your family from falling victims to such conditions.

She has ensured that her ideas and recommendations would add to your online experience and enhance your digital experience, to which McAfee has shown total support.

Let’s take a look at five measures that would protect your bank accounts from getting attacked and even threatened:

  • Password and password management system

Avoid using relatable passwords for protection that hackers or intruders can take an easy guess on. Try creating strong ones or use password management systems that can generate strong and unique passwords and make sure you don’t repeat them elsewhere.

  • Two-factor Authentication

Set up the two-factor authentication for your online banking accounts as it adds an extra layer of protection and prevents the hackers from getting in. For instance, you enter the password and get into your account but you receive a one-time use code on your phone or email for each transaction. So even if the first line of defence (password) is crossed, the intruders won’t get through the second (code).

  • Get ahead of phishing attacks

Be very attentive when going through your mailbox so that you can notice suspicious activities and report it but, if not, always do a quick search for the link attached to it, and get in touch with the institution to cross-check the email address used to send the mail.

  • Pay extra attention to banking related calls

Hackers and intruders have even shifted from non-voice operations to voice operations they call and trick you to share your banking details. So, check with the bank immediately before sharing those details. Ensure that the call is legitimate.

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  • Avoid public networks for transactions

When making transactions online, try and avoid doing it via any public Wi-Fi network, as it increases the chances of easy access to your bank account by hackers. Because most networks are open, shared by everyone, and unsafe.

Other measures suggested by McAfee include- keep updating the software on your devices, set unique PINs to lock up your devices and even applications, try using security software, think about getting connected to a VPN, and ensure regular check of your credit reports.

CONCLUSION

Online banking has changed the way we spend and has made our lives much more convenient than it ever was. Mentioned above are the benefits that you get with online banking.

However, with all of the benefits, it also makes your accounts and funds vulnerable to banking threats and frauds. But, in the digitally dominated world, you are in charge of your online presence. You can take measures to secure your bank accounts and funds to avoid falling victim to such threats.

And what is better than considering the recommendations of a McAfee team member via mcafee.com/activate that is supported by the company itself? Well, nothing. So take the above suggestions and get those benefits associated with online banking.

It is time to secure your money and go cashless.