Banks have a strong dedication to safety. They know that people depend on them every day to keep their money safe. This money might be all that they have for their life savings. Even if it is not, the banks know just how important this is. With the invention of online banking, more steps have been taken to prevent theft over the internet. First, banks will use secure servers so that no one can watch a transaction from the outside. They will also use Device Identification systems so that they can track computers that have been used for fraud before. The last thing that they will do is to set up security questions with answers that no one but the account owner could possibly know.
Secure servers work in two different ways. The first thing that they do is encrypt the information as it is being sent from the customer’s computer to the bank’s system. This makes it so that no one can read the information unless they have the right encryption program. The servers also encrypt the information that is stored on them so that hackers cannot get in and steal it. Since money is now represented in this digital realm, it could be stolen without anything physically changing hands. The encryption programs simply make it so that this cannot happen.
Using Device Identification programs is a good way for banks to watch for criminals who have a record as people who have committed fraud. Even if these people have not been caught by the police, their computers can be seen when they are used for fraud. The bank’s system can then mark these computers as dangerous. When the person tries to get onto the website again, even if they do not plan to commit a crime, they will be blocked. This information can also be passed along to the police to help them catch the criminal.
The final step in the process is that the bank’s system will set up security questions. The client gets to choose which questions he or she wants to answer from a list. The answers are then typed in, so they are all completely unique. If possible, the client should try to choose questions that no one else would be able to answer. This is hard to do, of course, which is why multiple questions are used. Even if a thief knows just a little bit about a person, it will not be enough.
Banks use device identification services, secure servers, and security questions to keep people safe. There are many other things that they do as well, such as setting up passwords and usernames, monitoring account access, and always requiring client’s signatures.