Online banking offers the ease and convenience of managing your accounts and conducting various financial transactions from virtually anywhere. However, even though public Wi-Fi can be found most places these days, you should think twice before using it to access sensitive banking information. Connecting your mobile devices to these unsecured networks presents a number of security risks. Here’s why it’s not safe to access your personal data from just any network.

The Dangers of Accessing Online Banking Information Over Public Wi-Fi

Unencrypted Connection 

Unlike the Wi-Fi you connect to on a private network, unsecured connections don’t utilize any encryption. This means they lack a vital layer of protection to prevent others from intercepting your online banking login information. They can then access your account with this data and make fraudulent transactions. In contrast, encrypted networks will scramble any information entered on your banking website and display it as a code that no one else is able to read. You can easily identify a secured network, as it will require you to enter a password.

Infected Devices

Unfortunately, it’s not only your device you have to worry about when using public Wi-Fi. It’s possible that others connected to the same network could be using a device infected with malware. In turn, this would put your device in jeopardy of being compromised. Hackers often attack unsecured networks knowing it presents a good opportunity to target multiple people at once.

Malicious Hotspots

In some cases, internet users may connect to a network they believe to be offered by a hotel, café, airport, or another establishment, but it’s actually a malicious hotspot set up by cyber criminals for the sole purpose of stealing personal information. Should you enter your online banking credentials under the assumption you’re visiting the real site, you’ll be giving your username and password directly to the scammer. 

When used carefully, online banking is one of the most beneficial tools available for monitoring your finances. First & Peoples Bank and Trust Company offers this feature and many others that allow for a better banking experience. They make it top priority to protect customer information and proudly provide service from multiple locations throughout Greenup County, KY, including Russell, Flatwoods, Greenup, and South Shore. Call (606) 836-0211 to learn more about their online banking functions, or visit their website to begin the enrollment process.