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Financial Institution Security Measures in Guyana: Staying Safe from Fraudsters
In recent times, Guyanese individuals have become increasingly vulnerable to financial institution security breaches. Phishing emails, vishing telephone calls, and identity theft are on the rise, with criminals using sophisticated methods to trick unsuspecting victims into disclosing sensitive information.
Staying Safe: Following Safe Banking Practices
To avoid falling prey to these scams, it is essential to follow safe banking practices. Here are some key tips:
- Banks will never send unsolicited emails or make phone calls asking for confidential information.
- Genuine communications from financial institutions typically use the customer’s actual name and may include verification checks such as postcodes or partial account numbers.
Online Banking Security
When accessing online banking services, ensure you are using a secure internet connection by looking for “https” at the beginning of the address and the padlock symbol in the browser frame. However, be aware that this only indicates a secure link between your device and the website owner, not that the site is authentic.
- Only visit your bank’s website by entering the correct address into your browser or using a bookmark you have created.
- If you suspect your details may have been compromised, contact your bank immediately.
Additional Security Measures
To add an extra layer of security:
- Ensure you have updated antivirus/antispyware software and firewall running before logging in to your online account.
- Use unique passwords and PINs for each website and keep them confidential.
- Consider setting up dual authority with your bank for transactions above a certain limit, which could be fraudulent.
Phone Call Security
If you receive a suspicious phone call:
- Always call back from another phone or wait at least five minutes before doing so. Fraudsters can hold the line open and spoof phone numbers that appear on your caller display.
Monitoring Your Statement
Regularly monitor your statement for unusual transactions and report any discrepancies immediately. Consider switching to online banking with mobile alerts instead of paper statements, which are easily intercepted.
Staying Protected
To stay protected:
- Ensure you have the latest Windows updates installed.
- Avoid conducting online banking from public computers or sharing sensitive information with others.
- Be aware of “shoulder surfers” viewing your screen and do not assume that soft keyboards are more secure than physical ones.
Additional Security Options
Many banks use two-factor authentication to provide stronger evidence of identity verification. This involves combining something you know (your username and password) with something you have, such as a bank card or standalone device.
Some banks also offer additional security software specifically designed for online banking, which can be downloaded for free and provides an extra layer of protection during financial transactions.
Resources
For more information on online security, visit your bank’s website or consult with their business manager. If you have been the victim of actual or attempted fraud, report it to the police and your bank immediately.