A LOT OF MONEY has been
stolen online through mobile banking and internet banking. The (BOT) statement
released recently on the trend of financial loss in the banking sector in 2023,
has noted that a total of Sh4.89 billion has been stolen through fraudulent
acts or hacking carried out through banking services via telephone or internet
banking (mobile & internet banking).
Another way is the loss
caused by employees, where Sh2.47 billion was stolen, the loss through ATM
machines was Sh741 million. Check fraud was Sh1.01 billion, and other losses
were Sh1.15 billion. In general, Sh10.2 billion.
The increase in these
cases is a sign that financial crime has changed its shape, from robbery and
counterfeiting to online systems.
There are important
things that users of online financial services should consider in order to
identify online criminal activities, it will also help them avoid loopholes
that can lead to losing money.
The user of online
services should put a password or 'password' in the device he uses, if it is a
phone, computer and other electronic device, also, put a password on online
financial accounts such as banking, or those of mobile networks.
Setting a password means
protecting your device from others and prevents those with good intentions from
being able to access your information quickly. It is our practice to keep a
password, for example your date of birth, your name, your partner's name, and
others. This style is not good, it is easy to be mistaken because many people
do it.
On the other hand, the
user of online financial services should realize that it is not safe to put his
information in every device. For example; log into your internet bank account
through someone's phone, or office computer.
To do so, you can leave
information that an expert with bad intentions can use to achieve his goal and
you lose your money, so it is important that someone does that with his device
only. In addition, if you are using an application (Mobile App) whether for
banking or mobile networks, it is good to update it regularly, it helps to
increase the security of your account (update).
Also, the user of online
financial services should not give his important information to people he has
not verified to avoid revealing personal information. For example, sometimes it
happens that others pretend to be employees of companies or financial
institutions and ask for information such as your name, your address, your
number, your transaction information, and others.
In the same way, the user
should be careful to answer some messages, for example, there is a
"code" entered on your phone, please use it, and others. These can be
traps, which if you enter your device can be hacked eventually leading to
losing your money.
The user of financial
services should also avoid following or opening each connection (link), as well
as avoid connecting your device to each Wi-Fi internet service. Those methods
may not always be safe, they are a loophole that can be used by malicious
people to access your device's information.
Finally, save your ATM
bank card information, especially the three secret numbers on the back of your
card (CVV), and the card's expiration date, for example if anyone knows your
bank account number, along with the two I mentioned together, he can use them
to pay for services online, if you have a balance, the money will be deducted
from your account.