Money in Account Drained: Beware of New Mobile Banking Theft Modus Operandi
Mobile banking has become a digital banking service that makes it easy for people to conduct various transactions using only their mobile phones. However, behind this convenience, users also face the threat of cybercrime that can drain account balances if they are careless in maintaining account security.
Digital criminals are now utilising various modus operandi to steal access to customer accounts, ranging from personal data theft and malware distribution to phishing practices aimed at obtaining important information such as PINs and verification codes.
To minimise the risk of becoming a victim of account theft, customers need to understand security measures when using m-banking services. The Financial Services Authority (OJK) has shared a number of tips to keep digital transactions safe.
Tips to Avoid Digital Banking Crime:
Do not disclose your access code or Personal Identification Number (PIN) to anyone else.
Do not record and store your SMS Banking access code or personal number in a place that is easily discovered by others.
Check transactions carefully before confirming the transaction for execution.
Every time you make a transaction, wait a few moments until you receive a response back regarding the transaction.
For each transaction, customers will receive a transaction notification message via SMS or email that will be stored in the inbox. Check the contents of the notification carefully and immediately contact the bank if there is a suspicious transaction.
If you feel your PIN is known to someone else, immediately change your PIN.
If your GSM SIM card is lost, stolen, or transferred to another party, immediately notify the nearest bank branch or report it to the bank’s call centre.
Be cautious of applications on the internet that are spam or malware which may steal personal data and misuse it later.
Do not conduct internet transactions in public places such as internet cafes or use free WiFi, as data can potentially be stolen by other parties on the same network.
Do not forget to log out after completing an internet banking transaction.
If you change mobile phones, ensure all data has been erased to prevent misuse by other parties using the phone.