Malware and Nedbank Business Banking

Malware could come in the form of a computer virus, worm, Trojan horse, ransomware, spyware, adware or scareware. Malware has one purpose: to make your machine vulnerable. Here are just a few examples:

• Key logging malware records every key you press, tracking your passwords, and taking screenshots as you work. This information is then forwarded to a fraudster;

• Session hijacking malware takes over your session while you are on a specific website. The fraudster then bypasses the authentication process that is required to log on to the website; and

• Banking 'Trojans' have been specifically created to recognise when a user has logged on to a banking website and will try to steal your log-in information and infiltrate your banking session.

A third party can download malware onto your computer or you can be tricked into downloading it onto your computer by:

• clicking on a link in an email;

• purchasing fake security software from someone claiming to be a representative from a reputable company such as Microsoft; and

• visiting an infected site, which results in a 'drive-by' infection.

Malware is often difficult to trace and remove as it hides in other applications and reinstalls itself if not properly removed.

Security is a top priority for Nedbank and our advanced protection system integrates numerous precautions, such as security tokens, software and hardware certificates, PINs and passwords, to ensure your peace of mind.

• Fortify your defences. Make sure your antivirus and operating-system software is up to date on all your computers. You should also consider installing a firewall to stop unauthorised information from being sent from your computer. For an impartial rating of various antivirus software visit av-comparatives.org;

• Always ensure that you are on the secure Nedbank internet banking website by checking that the URL (web address) begins with ‘https' rather than 'http';

• Do not share security details, such as your PIN, password or token, with anybody;

• Guard your token. Don't keep your security token permanently plugged into your computer. Unplug it after each banking session and keep it secure;

• Segregate roles and duties. Separate the roles of capturer and authoriser for online banking transactions;

• Be proactive. Never open attachments from unknown sources. Remember, Nedbank will never ask you to confirm your banking details by email. You should also check your bank statements for any irregular activity. If you notice your computer behaving erratically while you are logged onto internet banking, immediately switch your machine off and contact Nedbank to ensure no unauthorised transactions have been made on your account; and

• Verify details. Make sure that any correspondence received is from a verified address. If you receive an email with new banking details, verify it over the phone (not using the contact numbers provided on the correspondence) before making any payments, particularly when the account is outside Namibia.