Subscribe

Online banking security tips

By Absa
Johannesburg, 25 Jul 2006

With all of the interest and commentary of late surrounding the security of banking on the Internet, we have, in this article, detailed security features for banking online with Absa.

Absa is the largest Internet bank in the country, with 633 493 active Internet banking services and 39% of the market share (Webchek 2006). As such, Absa is committed to making sure that your online experience is safe and secure, and as such uses multiple levels of security, and state-of-the-art Internet technology, beginning with your browser and ending with our own security infrastructure to ensure that access to your accounts is private and secure.

Regardless of whether you are accessing the Internet from an Internet caf'e, a home or work PC, we suggest the following:

* Check to make sure that the URL begins with "https" rather than "http". The initial connection to http://www.absa.co.za/ will redirect the connection to an available Internet banking server.
* Ensure that you are not at a spoofed site. "Spoofing" is a practice that criminals undertake to lure you to their site, with the express purpose of defrauding Internet bankers and shoppers. A "spoofed" Web site looks like the real Web site, but with a few checks it is easy to establish whether you are at the correct site.
* It is important to ensure that you are at the Absa Web site. This you do by checking the Absa Security Certificate.
* Always ensure the secrecy of your PIN number. Never disclose your PIN number - this includes to bank staff members. A bank staff member will never ask you for your PIN.
* Be especially vigilant of security cameras trained on your PC.
* Avoid using public computers for Internet banking. Rather sign-up for Absa`s cellphone banking.
* If you receive an e-mail and are unsure if it is from Absa - come directly to the Absa site at http://www.absa.co.za./ Do not click on any link in any e-mail that seems suspicious to you.
* Take care when granting signing authority to third parties. Granting signing authority allows the third party to link your account to the Internet.
* Utilise the NotifyMe (08600 08600) service from Absa. NotifyMe is an electronic message service that allows customers the ability to monitor selected transactions and movements in their bank accounts. When the selected transaction has taken place, an SMS message or e-mail will be sent to the customer informing them of the transaction.

Absa has instituted the following security measures in order to protect you and the bank:

Advanced encryption software. Absa uses the most advanced internationally accepted standards of encryption technology. At present this is 128-bit encryption built into the browsers. It is, therefore, always in your best interest to update your browser to the latest released version.

Access number and PIN. You can only make use of the service if you have registered as a user and chosen an access account number and your own PIN.

Password. Once you have logged on to the service with your access number and PIN you will then be required to enter certain digits (three random characters) of an 8-12 digit alphanumeric password. This ensures that not all of your logon information is displayed or disclosed, to help combat identity fraud. A personalised greeting phrase will also be displayed with the date and time of your last logon.

Keypad. To help combat identity fraud you can make use of the online keypad provided on the logon screen to enter your access details.

Security violation. You have three opportunities to enter your PIN correctly. After the third unsuccessful attempt, you will be denied access to the service. You will then be required to call on your domicile branch, identify yourself and have the PIN reset. You can reset your password online if you originally chose this functionality upon setting up your password.

Random verification number. In order to create a beneficiary, stop payment or operator on Absa Internet banking you have the option to receive a unique code (random verification number) via e-mail or SMS. This random verification number allows you to control the creation of a valid beneficiary, stop order or operator. There is no additional charge for this service. This stops fraudsters in their tracks as they are unable to transfer money to their own accounts without this once-off password.

Timeout. This is a timeout system if Internet banking is not used for a certain period of time, ie six minutes.

Anti-virus and firewall protection software. Absa has negotiated free subscription to anti-virus software for all our Internet banking customers. Absa Internet banking customers can download or renew the PC-cillin software from the Internet banking logon page.

Share

Editorial contacts

Absa media services
ABSA
(011) 350 4588