It’s time to quit internet banking on your computer

It’s time to quit internet banking on your computer

I have been saying this for years. Your computer is not safe. It never has been and never will be. Despite the efforts of anti virus companies, banks and everyone else, Internet fraud has been increasing rapidly. There are no signs that it’s going to decrease soon. The reason is simple. It’s much, much safer from criminals to steal your money from somewhere in Russia than to storm into a bank with machine guns.

Once again my suspicions that these are mostly inside jobs has been confirmed. MyBroadband reported today that the FBI is being called in to help catch syndicates that have infiltrated Vodacom and ABSA. These insiders have been doing illegal sim swaps and committing internet banking fraud on mostly ABSA clients.

I have been going on about this for years but the only response I ever got from Vodacom and ABSA was that there is no problem. It seems that these two companies are masters in spinning the bullshit. The sad thing is that thousands of people have lots millions due to the negligence of both Vodacom and ABSA.

Five years ago I told Vodacom that their practice of allowing sim swaps without proper security verification is a serious security threat. They did nothing.

Mobile apps are far more secure than internet banking on your computer browser. Your computer browser (Internet Explorer, Chrome, Firefox) is probably the least secure piece of software on your computer. Every bank has a mobile banking app today. Stop using your computer to do your banking. Switch to the apps and you will not be exposed to the risk of spyware, malware and keyloggers.

The safest way to do your banking is by using the banks mobile apps on iPhone or iPad. Yes, I’m not the greatest Apple fan but Apple is way more secure than Android.

You have been warned. Continue using internet banking on your PC at your own peril.

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