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Business Online Banking

Internet banking is a very convenient and efficient way to conduct your business banking needs however it is vital to protect your passwords and secure log in details to prevent fraudsters gaining access to your accounts.

You or colleagues could be tricked by phishing emails or vishing telephone calls into disclosing your password and details on fake banking websites, or to bogus callers. Fraudsters gain access to funds either by getting you to transfer money to an account or asking you for details to allow them to make transactions themselves but also through malware that they install on your system giving them access to your Bank accounts and other security information stored on your computer which they can then use for identity theft.

Safe Online Banking

Below is some key advice on how to protect yourself and stay safe online.

Key Advice

  1. Never disclose banking details or personal information in response to an email, phone call or letter claiming to be from your bank or other financial institution. Your bank will never email asking you to divulge such information as your full PIN or passwords. If you are unsure if an email is genuine, contact your bank immediately via other means.
  2. Your bank will never send you an email with a link to a page that asks you to enter your online banking details.
  3. Switch off paper statements and register for online banking with mobile alerts. Paper statements are easily intercepted and read.
  4. Always make sure you are using a secure internet connection to connect to your bank. Never use free public Wi-Fi or hotspots. This may not be secure and your online banking could be eavesdropped or subject to Wi-Fi sniffing.
  5. Be aware of ‘shoulder surfers’ viewing your screen.
  6. Look for ‘https’ at the beginning of the address and the padlock symbol in the browser frame.
  7. Only ever visit your bank’s website by entering the address into your browser or using a bookmark you have created using the correct address.
  8. Ensure you have effective and updated antivirus/antispyware software and firewall running before you log in to your bank account.
  9. Use strong passwords and PINs and never reveal them to anyone or write them down to remember them. Use a secure password manager to help you to remember the number of passwords you hold.
  10. Always check your statements, and if you notice any unusual transactions, report them immediately.
  11. Only ever visit your bank’s website by entering the address into your browser or using a bookmark you have created using the correct address.
  12. Many banks use two factor authentication to obtain stronger evidence of who you are than simply using passwords. Two factors are ‘something you know’ (typically your user name and password) and ‘something you have’ which is either your bank card with a card reader. The code generated is personal to you, and different each time you log in.
  13. Get the latest software updates for your device, install up to date antivirus software and run regular scanning of your PC/ laptop. Also install and regularly update firewall software.
  14. Be careful when using public computers to access online banking.
  15. Always log out of internet banking sessions once you have finished.
  16. Be clear with your bank where liability for loss lies in the event of fraud. Read their terms and conditions and if in doubt, ask your bank’s business manager.