China - Safety of net banking in China.
Apr 26, 12, 4:57 pm
Is there any greater danger of someone committing cyber fraud when using internet banking while in China. I will be visiting soon for around two months and will need to attend to my bills at home by accessing my net bank and BPay. I will also need to juggle a bit of money between accounts. I will generally do this by hooking up to WiFi with a security password in the apartment where I live.
Apr 26, 12, 5:06 pm
If you're using your own computer and you're sensible then no, it's just as safe in China. Although the net is heavily censored they can't (at least not to anyone's knowledge) crack the encryption used for websites beginning with https://. If they can then it's the government who can and they probably have your bank details anyway ;-)
Normal net safety rules apply- check the SSL certificate (your browser should display a little padlock) and make sure your laptop isn't full of viruses.
Using Internet cafes is a different story, though. You've no good way of telling if they have keyloggers installed which record your username/password or other security details. They are probably best avoided for online banking etc if you're really concerned.
Apr 26, 12, 6:40 pm
+1, use your own computer and you're fine. In fact, I think it may be more secure, but then again maybe not.
US banks require a login/PW, sometimes extra info.
Chinese banks require login/PW, scratch off card to enter a code in 30 seconds (or USB security stick), and then I have to enter a code that is texted to my mobile that I have registered on file all within 30 seconds.
Apr 27, 12, 9:51 pm
Even using your own computer, I wouldn't use Wifi connection unless you will go through a private VPN to get to your banking website. Wired connection is somewhat safer if VPN-less. My experience: I found that some US-based financial institutions, if their website detects the Chinese ISP origin, may block access or some interactive functionality of the website. A VPN with a server setting to the USA will mask the Chinese ISP and ensures this won't be a problem. Getting blocked out of some US-based sites was one of the main reasons I got a private paid-for VPN service, a couple of years ago. Suss this out ASAP before you leave for China, if you don't already have a VPN. Not sure where your home country bank is, but do consider the issue.