While 60 percent of people use public WiFi to do their banking and shopping, you should always make sure you do not log into sensitive accounts on this network. Increasingly, cyber crimes have been attributed to public WiFi, from theft of financial information to holding a device for ransom. Most of these crimes occur because people expose sensitive information on public networks. This article will explain why you should never access your bank account on public WiFi, and give you tips on how to secure your network.
Session hijacking
Whether you’re using public WiFi at a coffee shop or on a train, you should take precautions to ensure your security. If you’re using a public WiFi connection, you’re at risk of session hijacking, which occurs when hackers hijack your connection to a website. The hacker intercepts the machine’s data, which makes it appear that the website belongs to you. This way, the hacker can access your bank account without you even knowing it.
A common way that attackers hijack your sessions is by stealing your cookie. Cookies allow a website to identify you over the same network, and hijacking your session can be a fast and efficient way to steal your money or sensitive information. You don’t have to worry about session hijacking, however; there are several ways you can protect yourself against this threat. Keep reading to learn more about how to protect yourself from this attack.
Man-in-the-Middle attack
Using public WiFi to access your bank account is not secure. It is easy for attackers to intercept your communications and steal the sensitive data you’re sending. In fact, the Revised Payment Services Directive (PSD2) has prompted financial institutions and banks to improve mobile and online banking to protect customer data. Using public WiFi is not safe, and you should take special precautions to avoid becoming a victim of this attack.
A man-in-the-middle attack is an eavesdropping cyberattack that intercepts communications between two parties. A hacker who performs this attack pretends to be a trusted party, like a family member, to listen in on important data. Then, he or she alters messages, impersonates the target, and steals important information.
Online privacy settings
While you might think that public WiFi is private, there are plenty of risks associated with it. Cybercriminals can steal your bank account information if you do not set up your online privacy settings correctly. These attacks use methods called “Evil Twin” and “Man in the Middle.” They use a Wi-Fi network to monitor your online banking activity and collect payment card details. Never use public WiFi to check your bank account balance or shop online.
Make sure you use secure web browsers. Ensure that your browser uses 128-bit encryption. You can also use a virtual private network to protect your account from being hacked. You should also make sure to update your antivirus software and other security software. Also, update your bank app if you use a mobile device. This way, you will be protected from malicious software. This can also make it difficult for hackers to access your information.
Using a VPN
Using a VPN to access your bank on public WiFi is a smart move if you’re going to use your account at a public Wi-Fi hotspot. When you’re in the US, your IP address should be from the US, which means you can browse the web with confidence, as if you were in the country. This way, if you accidentally log out of your bank account while using a public Wi-Fi hotspot, you won’t be caught in a compromising position.
Another benefit of using a VPN when accessing your bank account is that it protects your information from hackers. When you log into your bank account on an untrusted website, your IP address is changed to one from the VPN’s server. This means that if a thief steals your device, they won’t be able to open your account. Additionally, a VPN allows you to set up automatic WiFi protection, which protects you from malware.
