Banking Security Measures Against Fraud in Brunei Darussalam

As technology advances, so do its risks, and recently, there has been an increase in smartphone malware scams, phishing messages, and online payment fraud in the region, including Brunei Darussalam. To combat these cyber threats and protect customers, financial institutions are strengthening their banking systems to avoid data breaches. Meanwhile, consumers like you play a crucial role in keeping your personal data safe and securing your devices.

Securing Your Devices

Securing all devices used for financial transactions is essential in protecting personal and financial data. Individuals often fall victim to unintentional downloading of malicious software after clicking on links from unknown sources, resulting in stolen banking information or unauthorized access to bank accounts.

Best Practices

• DO:
  • Regularly update operating systems, applications, and/or firmware on your devices
  • Only install applications from official application stores such as Apple AppStore or Google Playstore
  • Remove any unnecessary or unused applications on your devices
  • Check the applications on your phone to ensure no unknown applications have been installed
  • Disable features like wireless, Bluetooth, and Near Field Communication (NFC) when not required
• DON’T:
  • Do not click on unknown or unverified internet links
  • Avoid jailbreaking or rooting your smartphone
  • Avoid plugging into unknown USB ports or devices
  • Never accept any suspicious activity on your smart device that triggers a warning

Always Be Aware

In today’s digital age, it is essential to always be aware and vigilant. Whether accessing or discussing financial information in a public space or browsing the internet and making online purchases, it is crucial to remain aware of potential risks and take steps to protect yourself.

Best Practices

• DO:
  • Discuss financial matters in private settings where there is less chance of eavesdropping
  • Exercise caution when making payments at any shop premises or using ATMs in secluded locations
  • Be aware of your surroundings when entering account details and be cautious against prying eyes
  • Ensure the web address or URL for banks and online shopping begins with ‘https’ or has a closed lock icon
  • Double-check the details of the website you visit, as hackers use visually similar characters to deceive people
• DON’T:
  • Avoid making online transactions on websites that seem dubious or are not familiar to you
  • Avoid online transactions on open or unsecured public Wi-Fi, including fake wireless hotspots

By following these simple practices, you empower yourself with the right tools to keep your financial information and transactions safe. Stay tuned for the next article in this series for more tips and advice to protect yourself online!