The most comfortable way that we have right now to do any type of operation with the bank is using the online version. It is the simplest for banks to communicate with their customers and allow them certain actions.
We will be able to transfer funds, pay bills or track expenses with just a few clicks.
The question we can ask ourselves is whether banking is safe despite the increase in cybersecurity threats around the world.
Banks use various advanced security and monitoring techniques to protect our information and your assets.
Knowing this, it can be very interesting to know what are the key security measures that online banking systems implement to guarantee a safe experience.
Index of contents:
data encryption
The banks They are required to encrypt the data while it is stored and in transit, in accordance with a regulation of the European Community.
Normally they use the end-to-end encryption (E2EE)which convert all data into an unreadable string of numbers before sending it over the Internet.
They typically use a variety of strong cryptographic algorithms, such as DES, IDEA, RC4, and the like, although the most secure is estimated to be 256-bit AES encryption and it is the standard encryption of almost the entire banking industry, since it is considered unbreakable.
The friends of others seek our personally identifiable information to know the credit card number, passwords, addresses, our full name and everything they can.
Through the Internet it is very difficult for them to know, since this data is sent through an exchange of public key and private key encryption. These keys are only available to us and the bank, so only we will have these data.
secure infrastructure
The infrastructure of the banks is equipped with various cutting-edge technologiesincluding firewalls, vulnerability scanners, log collectors, and intrusion detection systems.
This infrastructure is highly secure in many areas, both at the hardware and software level.
- The firewall they filter incoming and outgoing traffic to prevent unauthorized access to the bank’s private network.
- He traffic it is filtered according to IP address, service request and even filters previously established by the bank.
- He firewall it can prevent an attacker from installing malicious software on the bank’s computers.
- In addition, there is technology User Behavior Analytics (UBA) to prevent internal attacks by cybercriminals or workers.
threat intelligence
Banks suffered between 2019 and 2020 an increase in distributed denial of service (DDoS) attackssomething that has been maintained in the following years.
DDoS attacks, phishing attempts, business email compromise attacks, and ransomware are constant threats to banks.
Fortunately, most financial services use a proactive technology called cyber
Threat Intelligence (CTI) to identify both ongoing and emerging cyber threats to your assets.
All data is released to the corresponding higher level, such as IT management, but if there is a data breach, a threat intelligence system allows banks to act quickly and efficiently while recovering the compromised data.
multi-factor authentication
The multi-factor authentication (MFA) It is also used by banks, although they do not use passwords and PINs because passwords can be shared with third parties.
The most secure MFA method is the biometric authentication, which verifies a unique characteristic of the user, such as a fingerprint, voice, palm print, or iris scan. If the biometric data does not match, the session is prohibited.
Anti-virus and anti-malware
Banks, in addition to everything that we have mentioned above, also use anti-virus and anti-malware.
He anti virus software recognizes and removes advanced threats such as ransomware and infected attachments. In addition, within the security suites they come prepared with an antimalware.
Financial institutions regularly update and maintain their antivirus software, as outdated versions may not be able to detect the latest virus signatures.
This is all that a bank makes available to us so that all our information and everything we do with it is much more secure.
