Tuesday, 6 November 2012

What is there in a Password?

Why different banks and several other financial organisations talk of a password every now and then emphasising so much on its security? They are doing it rightly, and it is purely in the interest of customers, the customers who are having their accounts in some bank or the other, or particularly those who are resorting to online operations. The technological development in much advanced a shape as it stands today not only provides several avenues for transacting their business in multiple ways, it also furnishes different capabilities to those who resort to fraudulently withdraw the funds of others by hacking their IDs including password. Bankers are taking all precautions to check it by remaining vigilant on such operations themselves and by providing various guidelines to customers from time to time as to what methods the customers should adopt for overcoming the problem. These guidelines include that no body should ever divulge his/ her password to any body else, and that better it is to keep the password in one’s own memory instead of writing it down any where. While using ATM, the customer must push the ‘clear’ button on the ATM board before initiating his/ her own operation procedure, and this mode of operation has to be repeated also after the operation is over. What happens is that the ATM machine very often retains the contents of the individual operation in its memory, and the chances are that such an information can be used by some one else also. There are complaints every now and then that some body’s account was debited with huge amount of which the account holder himself had no knowledge at all. Password, for all these reasons, is always required to be kept as strictly and virtually private and confidential, and this reduces the possibilities of any fraud being perpetrated.

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