WITH the rapidly rising popularity of smartphones and their increasing computing power which surpasses those of early personal computers, the younger generation now views the mobile phone and the Internet as essential tools in their day-to-day activities at work, school and at home. Technology, too, is in a constant state of change and with these rapid advancements – smartphones, as computers, are also vulnerable to attack.
At Baiduri Bank, technological solutions are being provided by the best in the IT industry as the bank makes the protection of its customer data an utmost priority.
The Payment Card Industry Data Security Standard (PCI DSS) is a worldwide standard that was set up to help businesses process card payments securely.
Some ways in which the bank does this, as per its PCI DSS compliance, is to encrypt its data. This renders the data useless even if someone were to gain access to this data, according to a statement.
Another way the bank copes with the constant state of change is that being a local bank, it is able to respond faster to changes, such as bringing in new technologies and updating faster security measures.
Ultimately, from a bank’s perspective, it is dependent on a system that captures data and the most crucial step is how the bank manages that data.
At the bank, a multi-tiered firewall architecture is employed which allows the bank to isolate any threats to a particular area or level. This is complemented with other security monitoring devices to ensure that its central computer systems are not affected thus keeping the customer’s information free from any malicious attacks.
It is near impossible to get it right all the time as technology evolves continuously. But there are mobile-specific defences, which the bank employed, as well as PC-specific defences based on the industry standard.
In short, there is no one-size-fits-all strategy. There is only so much that a service-provider can do in order to protect the customer data but the customers themselves can also take steps to prevent falling victim to cybercrime.
Some ways a customer can hinder, if not prevent, an attack are; upgrade to the latest anti-virus, anti-spyware and firewall software on their computer and mobile; do not “jailbreak” smartphones as it is more vulnerable to external threats; do not connect to an unsecured Wi-Fi when performing transactions in a public place; ensure that their browsers are updated to the latest versions; look for the security lock icon during authentication and encryption procedures when conducting online transactions; never disclose PINs, passwords, personal details and other confidential information to anyone; avoid sending sensitive account or personal information, such as PINs, via phone, email or SMS; and do not install software or run programs of an unknown origin.
Customers can alternatively head to the bank’s website at www.baiduri.com and look through its safety and security tips on other ways they can protect themselves. – Prepared by Sim Kiem Lee, Chief Technology Officer, Baiduri Bank