Financial Crime World

Dominica Online Banking Security Risks Highlighted

As online banking becomes increasingly popular in Dominica, users are being warned about the risks associated with having their computers directly connected to the internet for extended periods of time. This is particularly crucial for those using cable modem or digital subscriber line (DSL) internet connections, which do not require dialling into the internet and are often described as “always on” connections.

Security Risks

Malicious parties have a continuous window of opportunity to launch attacks on users’ personal computers as long as they remain connected to the internet. To mitigate this risk, users with cable or DSL connections can limit their exposure by disconnecting from the internet when their session is complete or turning off their modem.

Security Measures

For those who wish to continue taking advantage of the “always on” feature of these connections or run extended dial-up sessions, several security measures are recommended:

Personal Computer Security

  • Disable File Sharing: Disable file sharing on your personal computer to prevent unauthorized access.
    • Microsoft provides instructions on how to disable file sharing in Windows Help.
  • Install a Personal Firewall: Install and frequently update a proven personal firewall product, such as Personal Firewall Plus or Zone Alarm, which can be configured to prevent unauthorized access to your personal computer and keep it up-to-date.
  • Get Computer Security Updates: Ensure that you are using a legally licensed operating system. You may be able to improve the security of your system by getting updates to help correct issues that may make your computer vulnerable to virus or worm attacks.

Wireless Network Security

If you have a wireless network, additional measures are necessary to protect your internet connection:

  • Use Encryption: Enable the highest level of encryption available for your router; newer wireless routers typically use Wi-Fi Protected Access (WPA), and older versions use Wired Equivalent Privacy (WEP).
  • Change Your Default Password: Change the default administrator password on your wireless router to prevent unauthorized access.
  • Change SSID (Service Set Identifier): Change the manufacturer’s default SSID name to a unique name that will not be easily guessed and has no direct connection to you or where you are located.
  • Switch Off SSID Broadcasting: Disable SSID broadcasting, which will hide your network from outsiders.

Mobile Device Security

To protect your mobile device:

  • Set a Password/PIN Lock: Always set a password/PIN lock on your mobile phone to provide additional protection.
  • Delete Text Messages and Clear Cache Memory: Delete text messages and clear the cache memory, especially before lending, discarding, or selling your mobile device.
  • Never Disclose Personal Information: Never disclose any personal information via text message or email.
  • Download Security Updates: Download and apply security updates and patches to your mobile browser when they are made available - these are designed to provide you with protection from known and possible security problems.
  • Be Cautious of Attachments and Software: Do not open attachments from unknown or untrustworthy sources. Do not install pirated software or software from unknown sources.
  • Limit Access: Know everyone who uses your mobile handset device and limit unauthorized access. Never save your username and password in the mobile device.
  • Access Republic Bank Mobile Banking Securely: Do not access Republic Bank Mobile Banking from a mobile device that is shared with other people. If you leave your mobile device idle for a certain period of time, the session will automatically be terminated to help prevent unauthorized access.