Bulgaria’s Central Bank Warns of Online Banking Security Risks, Urges Citizens to Take Precautions

The Bulgarian-American Credit Bank (BACB) has issued a series of recommendations for customers to protect their sensitive financial information in response to growing concerns over online banking security in Bulgaria.

Protecting Your Data: BACB’s Recommendations

While the bank uses professional means to safeguard data security, individual users must also take proactive measures to ensure their computers and networks are secure. Here are some essential tips:

• Use legal software: Refrain from using illegal software or failing to update anti-virus, anti-spyware software, and firewalls on devices used to access online banking services.
• Regularly scan and update: Regular scans and updates of operating systems and browsers are crucial in preventing security breaches.
• Keep your passwords safe: Keep usernames and passwords secret and avoid sharing them with third parties. Avoid writing down passwords or including them in electronic messages.

Secure Password Practices

To minimize the risk of unauthorized access, BACB recommends:

• Use strong and unique passwords: Use a mix of uppercase and lowercase letters, punctuation marks, and numbers.
• Change your password periodically: Regularly change your password to ensure your account remains secure.
• Avoid saving usernames and passwords in browsers: Never save your login credentials in web browsers or applications.

Additional Security Measures

To prevent unauthorized access to your online banking services:

• Verify the server certificate and Sectigo secure mark: Always verify the authenticity of the website you are accessing before logging into online banking.
• Be cautious of suspicious messages: Do not respond to emails claiming to require re-verification of identity or confirm sensitive information. Report any such messages to BACB’s abuse department.
• Regularly review your account activity: Select “Session Overview” to monitor your account transactions and notify the bank immediately if you experience any difficulties accessing your accounts or notice suspicious activity.

By following these recommendations, you can significantly reduce the risk of online banking security breaches and protect your sensitive financial information.