In today’s digital revolution, it’s become much more important to have some measures instilled to protect your accounts. As more people transact online, scams have become increasingly rife.
Financial institutions like banks have had to update their security to keep up with the latest scams.
Standard Bank has introduced a Standard Bank 2 Factor Authentication system as a way to counter phishing attacks and other online scams.
More about the Standard Bank 2 Factor Authentication:
This is a multi-level logon procedure which requires a user to provide two passwords before being granted access to a Business Online Banking profile.
It is an added security measure that makes theft of logon credentials difficult for potential fraudsters.
It’s a compulsory security feature that safeguards your accounts.
A token that generates unique one time passwords as an added security feature is used. Access to the Business online system will only be granted if the correct combination of operator ID, personal password and token-generated one time password is entered.
To register for Standard Bank 2 Factor Authentication, speak to your Account Executive or Transactional Banker.
Tips on how to avoid scams:
It cannot be stressed enough how important it is to make sure that you don’t have the same password for all your online platforms. You should consider using password management software to help you manage your passwords easily.
Choose obscure personal questions. A simple way to keep your information safe is to avoid using answers that people can find on your social media profiles.
Make sure that you don’t click on every link you come across. Your bank will never ask you to send your passwords or personal information by email. Stay alert to anything that seems suspicious.