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Best practices to secure your current account

    It only takes one successful phishing attempt on the part of an individual with malicious intent for you to lose access to the funds in your current account. Go through ten effective steps that you can take today to improve the security of your current account and reduce the risk of any similar type of cyberattack.

    10 best practices to secure your current account

    Here are the top ten best practices that can help you secure your online current account:

    1. You must regularly check your current account’s activity: Banks generally inform customers immediately via SMS in the event of an unauthorised transaction using their bank account. You can review your bank account statements regularly to detect any discrepancies in your daily transactions. If you notice any suspicious or unfamiliar transactions, you should report them to your bank immediately.
    1. You should update all the important information every few months: The information in question here includes details like your Aadhaar card information, your contact number and address, your PAN card details, etc. If you change your address or phone number, be sure to update it on the app or the bank’s website at the earliest.
    1. Do not share your account information with anyone: While this might seem like a very natural thing to do, you must exercise caution at all times and avoid sharing any banking information with anyone. Cover your PIN while transacting at an ATM and look out for your card when you hand it (for instance) to a merchant at a POS station.
    1. Create strong “passphrases” and keep changing them: Passphrases are phrases like “Mybankpassword100%”. These are easy to remember, easy to form, and they meet all the requirements of strong passwords. Be sure to keep changing your passphrases (for your mobile banking apps) from time to time.
    1. Beware of phishing emails and money mules: Money mules are fraudsters who might try to lure you into revealing sensitive information about your bank account. This can be via a phone call, via an email (called “phishing”), or in person. You must avoid money mules and mark phishing mails as spam.
    1. Use the bank’s official website while transacting: Fraudsters often replicate a bank’s website to lure customers into using them while making a payment. Be sure to use a bank’s official website while making a payment.
    1. Avoid using any public Wi-Fi hotspots while making a payment: Doing so can significantly improve the security of your online transactions.
    1. Ensure that your computer is secure and free from malware: You must also renew your computer’s antivirus (in case it has expired) and make sure that it doesn’t contain any malware before using it to make online transactions.
    1. Sign up for banking alerts: Doing so can help you be notified about a suspicious/unauthorised transaction at the earliest.
    1. Secure your offline documents and regularly review your security arrangements: You must also secure your offline documents by storing them in a locked place. You must shred any documents containing sensitive information before disposing them in a public place to avoid identity theft.

    You will have secured yourself from a majority of online cyber attacks if you were to follow all the points mentioned in this article. While choosing an online current account, be sure to opt for a bank that prioritises online security and offers modes of secure log in on its mobile app.