Bahamian Online Banking Community Warned About Increasing Security Risks

As online banking becomes an increasingly popular way to manage finances in the Bahamas, security threats are on the rise. To combat this growing issue, Commonwealth Bank of the Bahamas is taking proactive measures to protect its customers and is urging the public to be vigilant about their online safety.

Security Measures Implemented by Commonwealth Bank

Commonwealth Bank takes customer confidentiality very seriously and has implemented a range of measures to safeguard sensitive information. The CB Privacy Promise guarantees that customers will never receive unsolicited emails or texts asking for:

• Passwords
• PINs
• Credit card numbers
• Other personal details

Types of Online Scams to Be Aware Of

With the rise in online banking, comes an increase in online scams targeting unsuspecting Bahamians. Two common types of fraud that citizens should be aware of are:

• Phishing attacks: Hackers disguise themselves as legitimate financial institutions and send fake emails or texts to trick victims into revealing their personal information.
• Identity theft: Scammers steal personal information to commit crimes, such as opening new credit accounts or making unauthorized transactions.

Online Safety Tips

To stay safe online, Commonwealth Bank is advising customers to follow these simple tips:

• Keep personal information professional and limited
• Ensure privacy settings are on
• Practice safe browsing
• Update antivirus software regularly
• Be cautious when downloading files
• Choose strong passwords
• Make secure online purchases
• Post with care online

Additional Precautions

Commonwealth Bank recommends that citizens:

• Only access their accounts through secure websites
• Never share sensitive information with strangers