- Connect with us:
- |
- |
- RSS
- |
- Newsletter
-
5 Tips to Ensure Security in Banks|
- By Aarti Shah, Nov 29, 2007 2022 hrs IST
- Tags : 5 Tips to Ensure Security in Banks
-
In banks, identity theft has been a soft target for criminals and hackers. In today's hi-tech age even the goons have started inventing new means to cheat customer bank accounts, ATM, and credit card accounts. They follow your financial transactions, assume your profile, and borrow on your name till you or your bank recognizes it.
Frauds related to credit card, ATM cards, online banking operations, and personal identity are rampant in the financial world. This has made it imperative for banks to enhance its security of their online banking tools and systems.
Mentioned below are just a few ways that banks can implement to build a secure and safe environment for their customers:
Delivery of credit cards
Currently there's rise in number of fraud cases through online banking facility offered by most banks.
"Bank of Baroda has already taken precaution against such fraud. It's very important that customers should fill the application form properly. Whenever bank delivers a credit card, they have to be careful that the card is delivered to the correct address. So wrong delivery leads to leakage of personal information," says, Prem Chand Bansal, chief manager (Customer Services) of Bank of Baroda, Baroda Branch
Installation of efficient security systems
To trap hackers each and every bank has to place Close Circuit Cameras (CCC) or Close Circuit Tele Vision (CCTV) at ATM centers. The Bank of Baroda's Vadodara banch for instance has installed CCC. Once the hacker is trapped red-handed, the bank can initiate legal action against the person.
Bio metric system is among the most effective security system for banks. This system works on finger prints of individuals. Here the system recognizes and identifies the customer or individual during the ATM operation. A thief can steal your password but not your finger tip, restricting the possibility of fraudulent transactions.
Know Your Customer (KYC) system
When customers approach any bank to open an account, there is one strategy namely KYC. The bank should have brief interaction sessions with the customers, and also make them aware of the steps involved in implementation of secure environment.
Phishing
Banks ought to create awareness among people about phishing. Be extremely wary of emails claiming to be sent by bank and asking you to enter your account details. Your bank already has your details and clearly wouldn't want it again.
These fraudulent e-mails will have content such as the bank is trying to protect you from a fraud, the bank needs some security and maintenance update on your account and asks for your account details, etc. Customers shouldn't respond to such emails.
Bank guidelines
With expansion in banking operations, fraud-related cases are on rise. Detection of any fraud or wrongdoing should be dealt with seriously and preventive actions should be taken to avoid future occurrence of such incidents.
Banks can issue detailed guidelines to customers on how to protect their identity and account, and enjoy safe banking. These can take the form of books, pamphlets, brochures, e-mails, etc.
Related Links:
3 Factors CIOs must Consider When Investing in IT
-
Discussion Board
- Write a message
- When you talk, we listen
- Do you find CXOtoday useful?
Advise us on how to make it better.
- Advertisement
- Case Studies & Whitepapers
- SBI Funds Management (SBI FM) deploys speech-recognition technology in thei...Read More
-
Editorial
-
Change is the only constant goes the well worn adage. Well, we too, here at CXOt...
Read More
- Advertisement
-
