Just like they say the Indian cricket team looks strong on paper, online banking, too, is safe only in theory if one disregards safety norms. A sad story, but Hyderabad-based former journalist Nagaraju Kopula, who died earlier this year, was a victim of a banking fraud and lost Rs 1.23 lakh from his account that was raised by his friends towards his cancer treatment. Online banking is safe as long as you are using it in a secure manner, otherwise you could be a victim of convenience.

If you are making banking transactions that take place over the Internet, make sure that your bank is using high-end encryption. Also, make sure you follow all the necessary safety measures suggested and recommended by the bank when using it for online transactions.

OlmDesk@outlookindia.com