For all the good that the internet has created and the convenience that it has brought into our lives, along with it came the all-too-familiar sacrifices that come with convenience. Web-based services have made it easy for us to sit in our kitchen in our bathrobe and pay the utility bill online, move money into our college kid's account, or buy that new pair of skinny jeans that we haven't had time to pick up at the mall, but in the back of your mind, you can't help but wonder.
Is my online banking really safe? Can I trust this?10years ago, phishing, hacking, cybercrime, computer virus, spybot and anti-virus software weren't even in our vocabulary, but are today one of our biggest headaches and the price we pay for the convenience of that bathrobe bill pay. In a new age of cyber-crime and a faceless enemy on a computer far away, we still find ourselves more and more attracted to the use of bathrobe bill pay, even in the face of enemy fire. So how do we win the war for a safe and secure environment inside our CPU?

Winning the virtual war against the hackers of the world is also virtual - virtually impossible to win in one battle and no particular strategy in mind. You win this war one battle at a time and with careful planning. With all of the latest technology coming to the forefront of the web-based world, the hackers are steadily keeping up with development efforts of their own and new methods of obtaining the information that they need, just as quickly. Protecting your personal information and that of those users to whom you provide services is one of the most important battles to win and should be at the top of every institution’s list of priorities for online service offerings. As we see the technology race heating up in the financial market, we are also seeing a steady increase of the incorporation of multi-layer protection, with one of the most popular being the use of out-of wallet questions to authenticate the user beyond the use of a user ID and Password.

Another important way to protect against the virtual enemy is education of the user. Provide information on how to remain safe as they surf, not only for the users of your online banking services, but for your staff as well. Make sure that your employees know now to identify scams that may mimick an office email or memo, and keep them up-to-date on the latest methods being used to steal information. If they are aware and alert, it is less likely your staff members will become the victim of the scam artist and ultimately, your end-users will be protected as well.

Most institutions are today instituting policies that will enable their systems to monitor access, recording the IP addresses of the users and the statistical data of the visit. Although, it isn’t likely that successful prosecution of the hacker will everoccur, especially with many scams originating overseas, this technique makes it easier to more readily identify fraudulent sites and shut them out of the system. While this technique alone isn’t efficient enough to completely prevent the activity from occurring, coupled with other methods, with a layered security policy in effect, you are much more secure from the predators looking to access the information.

Protect your users with the best technology has to offer, including the integration of out-of-wallet questions with New Account Application Online and account authentication services for funds transfer. Call today and find out what uMonitor can do for your peace of mind and your users’ continued confidence in your services as their institution of choice. For more information on how uMonitor can be of assistance in the war against cybercrime, call 901.757.1212 to speak with a uMonitor representative today or visit www.umonitor.com.