The importance of a vigilant approach to online banking


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KS Ramakrishnan, Risk Director, RAKBANK, explains to Focus GN what customers should consider when banking online.

What are the main tips you give your customers to protect them from fraud?

Cyber ​​attacks, financial crime and fraud are increasingly targeted, complex and persistent. Although technologies have made advancements in risk management, cybersecurity and fraud prevention, we still advise our customers to take additional precautionary measures.

First, always use your own computer or use a trusted computer for banking purposes. We advise our customers to avoid using a shared or public computer for banking purposes. Make sure your computer is equipped with an antivirus and a firewall to prevent malware infection. Also update your computer regularly, especially anti-virus software, web browser, and operating system.

In addition, please follow your bank’s SMS and email alerts for security and data protection and pay attention to SMS and email transaction alerts. Always type your bank’s website, for security reasons. Do not use your bank password for anything else like email or social media etc. Check the information displayed for the last time you logged into your account and make sure it matches. Finally, periodically review your beneficiary list and make sure it matches the beneficiaries you added yourself.

When traveling, we recommend our customers to consider enabling a roaming feature so as not to miss important notifications from RAKBANK. In addition, never use unsecured Wi-Fi access points.

We suggest customers to verify URL domain as well as site before providing details.

– KS Ramakrishnan, Risk Director, RAKBANK

What can your customers do to ensure that they are using a genuine RAKBANK website when doing their banking online?

We always advise our clients to type the bank’s website. For security reasons, never click on links received in emails or messages claiming to be from your bank. Use a secure connection, this is identified by a green area visible in the address bar with https in the URL itself. We also suggest customers to verify URL domain as well as site before providing details. If you think the site could be fraudulent, do not provide any details and report the site to your bank. To be on the safe side, open a new browser window and visit the main page of the site you think you are on, if it looks different then you may be dealing with a phishing site.

What are the most common forms of online fraud?

1. Phishing / Vishing / Smishing – Do not provide any confidential banking information through malicious phone, messaging apps or SMS and ransomware

2. Email spoofing – easily preventable by simply using a reputable email service provider such as Gmail or Outlook

3. Shoulder surfing – consider banking from one of your devices where no one can see you typing over your shoulder


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