Accessing your bank account online, or homebanking, has become an essential convenience for managing your finances without leaving home. However, it is essential to be aware of two forms of online fraud: phishing and pharming.
What is phishing?
Phishing is a tactic used to obtain confidential information, such as usernames, passwords and other personal data, which can be exploited in fraudulent transactions. It usually arrives disguised as fake emails or text messages imitating financial institutions or well-known shops.
What is pharming?
Pharming is a more sophisticated form of fraud, in which the address of a legitimate website is redirected to a fake server in order to capture users’ data for unlawful purposes.
10 tips to protect yourself from phishing
Here are 10 tips to protect yourself from phishing:
- Change your password regularly.
- Keep your computer’s antivirus software up to date.
- Avoid clicking on links in suspicious emails or search engine results.
- Do not open attachments in unsolicited emails.
- Never send personal information by email.
- Watch out for grammatical errors or strange addresses in emails.
- Check that the bank’s page starts with “https://” to ensure a secure connection.
- Always log out after using online banking.
- Check your bank statement regularly for suspicious activity.
- Consult the Bank of Portugal’s list of institutions authorised to provide banking services.
It is essential to stay vigilant when using online banking, thereby protecting your financial information from possible online fraud.
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