The banking system takes many steps to ensure the security of online transactions and protect against fraud.
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Secure Websites and Apps
Banks have special websites and apps that we can use for online banking. These websites and apps are designed to be secure. They use special technology to keep our information safe when we do online transactions.
Strong Passwords
When we create an online banking account, we need to set a password. It's like a secret code that only we know. Banks ask us to choose strong passwords that are hard to guess. This helps protect our account from unauthorized access.
Two-factor Authentication
Sometimes, when we want to do an important transaction online, the bank asks for more than just a password. They might send us a special code to our mobile phone. We need to enter that code along with our password.
Secure Networks
Banks use special networks that are very secure for online transactions. They make sure that the information is encrypted, which means it's like a secret code that only the bank and the customer can understand.
Fraud Detection Systems
Banks have special systems that monitor our transactions for any signs of fraud. If they see anything suspicious, they take action to stop the fraud and keep our money safe.
Customer Awareness
Banks also educate their customers about online security and fraud prevention. They teach us how to be careful with our personal information, like our passwords and account details.
By taking these steps, the banking system tries to make sure that our online transactions are safe and protect us from fraud.
