With the advent of hacking softwares and professional hackers in India, it has become extremely important for Banks to combat Financial Fraud and more importantly Internet Banking Fraud. When Internet Banking was first launched sometime in 2000, the customer would have to enter the Internet Banking User ID and Password on his keyboard which continued for about 5 years till 2005.
Today we have hacking softwares to capture keyboard entries, so if you are entering your User ID and Password on your computer, some hacker can easily capture the letters you are entering with the help of hacking software. As a result, he knows your User ID and password and can hack into your account. When I speak to customers about this risk, they just dismiss it saying that the chances are one in a million, but you never realise the import of it until the same happens to you.
To counter this risk, banks have launched Dynamic PIN Pads where the customer does not enter his Internet Password on the keyboard but on a dynamic Keyboard with a mouse. The layout of this dynamic keyboard changes with every login, so the hacking software cannot understand the letters / numerals you are selecting and your Internet User ID and Password is protected.
I would strongly recommend that all customers who use internet banking, need to ensure that they enter their password on the Dynamic PIN Pad only and not on the keyboard. If your Bank does not offer it, then write to them and ask them to. If you are keeping significant money in your account, I am sure they will listen.
However, it is important to note that when you use the Dynamic PIN Pad the password will become easily visible to people standing behind you who are looking into your computer (a phenomena known as “shoulder surfing”) so make sure you login when you are alone, else someone could be looking at your screen and noting down your password.
If you have any further questions pertaining to Online Security do write into Ask.Pranav@Gmail.Com I will revert to your query as soon as possible.
Today we have hacking softwares to capture keyboard entries, so if you are entering your User ID and Password on your computer, some hacker can easily capture the letters you are entering with the help of hacking software. As a result, he knows your User ID and password and can hack into your account. When I speak to customers about this risk, they just dismiss it saying that the chances are one in a million, but you never realise the import of it until the same happens to you.
To counter this risk, banks have launched Dynamic PIN Pads where the customer does not enter his Internet Password on the keyboard but on a dynamic Keyboard with a mouse. The layout of this dynamic keyboard changes with every login, so the hacking software cannot understand the letters / numerals you are selecting and your Internet User ID and Password is protected.
I would strongly recommend that all customers who use internet banking, need to ensure that they enter their password on the Dynamic PIN Pad only and not on the keyboard. If your Bank does not offer it, then write to them and ask them to. If you are keeping significant money in your account, I am sure they will listen.
However, it is important to note that when you use the Dynamic PIN Pad the password will become easily visible to people standing behind you who are looking into your computer (a phenomena known as “shoulder surfing”) so make sure you login when you are alone, else someone could be looking at your screen and noting down your password.
If you have any further questions pertaining to Online Security do write into Ask.Pranav@Gmail.Com I will revert to your query as soon as possible.
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