Online banking safety: Cybersecurity best practices for 2026

Banking looks different than it used to, with modern digital finance being defined by constant accessibility and one-click convenience. Alongside the convenience of digital banking, however, is the risk of increasingly prevalent threats. 

As artificial intelligence (AI) becomes more prevalent, maintaining online banking safety now requires more than just a strong password. Knowing how to protect your accounts, how to recognize potential threats, and what to do if something happens is now more critical than ever as we adapt to a world of sophisticated hacking and convincing deepfakes.

New, emerging technology and advanced tactics have allowed hackers to find new ways to gain unauthorized access to consumers’ bank accounts. These threats go beyond traditional phishing, though phishing still exists, and now take the form of more hyper-personalized attacks. 

AI-powered phishing and deep fakes 

Scammers can now use generative AI to create convincing emails and text messages that use your bank’s exact tone and branding, making it difficult to determine which outreach is actually coming from your bank. In some cases, these messages will have links that take you to what looks to be your bank’s site, so you’ll enter your login criteria. 

AI-enabled voice cloning has also become a common and concerning tactic. Scammers can call you using a voice that sounds exactly like someone you know. 

They may call pretending to be a bank representative, stating there’s an issue with your account and asking for sensitive information like login credentials to help you sort it. Or, they may even call pretending to be a family member in distress, asking for an urgent transfer of funds. 

These threats are becoming more common, with one report finding a 1,210% surge in AI-enabled fraud between January and December 2025, including both deepfake and synthetic fraud. 

Access through public Wi-Fi and unsecured networks 

Public Wi-Fi is still a common culprit for “man-in-the-middle” attacks. In these cyberattacks, hackers steal sensitive information by observing communications between two online targets, like a user and a website. Then, once they have this information, they can access your financial accounts. 

Unsecured networks and public Wi-Fi pose a significant risk. Hackers can use these networks to intercept your data or even inject malware onto your devices, so if you’re using the public networks at an airport or your local cafe, keep this in mind. You can use a Virtual Private Network (VPN) or your own mobile data to access your financial accounts online in public spaces. 

While fraudsters have more advanced tactics at their fingertips, we have plenty of information to help combat their efforts. These are the cybersecurity strategies that can help you protect your financial accounts and your assets. 

Implementing phishing-resistant multi-factor authentication (MFA)

Multi-factor authentication (MFA) adds a second layer of verification beyond your password, and for online banking, it's one of the most effective protections available. But not all MFA is equal. 

SMS-based codes can be intercepted through SIM-swapping attacks, so while they're better than nothing, they're not the strongest option. Phishing-resistant MFA options like hardware security keys or passkeys are significantly harder to compromise, because authentication is tied to your device rather than a code that can be stolen or forwarded.

Most major banks and financial platforms now support app-based authenticators. If your bank offers a passkey or security key option, it's worth enabling. When setting up MFA, also think carefully about your recovery method. Using an unprotected email address as a backup can leave a backdoor open to your finances if that account is ever compromised.

Using password managers and biometric logins 

Reusing passwords across accounts is one of the most common ways financial credentials get compromised. If one account is breached, every account sharing that password becomes vulnerable. 

A password manager solves this problem by generating and storing unique, complex passwords for every login. Most reputable password managers flag weak or reused credentials and alert you if any saved passwords appear in known data breaches. 

Pairing password managers with biometric login features (such as fingerprint or face recognition) adds both security and convenience. Since biometric data never leaves your device, it's significantly harder to intercept than a typed password.

Finally, avoid saving passwords in your browser if you're on a shared or public device. 

Monitoring your accounts for suspicious activity 

Catching unauthorized activity early limits the damage, but this requires regular attention. 

Make a habit of reviewing your transaction history at least once a week rather than waiting for your monthly statement. Most banking apps now offer real-time push notifications for transactions, which makes it easy to spot something unusual the moment it happens.

Beyond transactions, keep an eye on logins. Many banks show a log of recent account access including device type and location. An unfamiliar login is worth investigating immediately, even if no transaction is attached.

If you use Raisin to manage savings across multiple institutions, a single login gives you visibility across all your accounts in one place. This way, you're not jumping between platforms to check for anything that looks off.

Before acting on any message that asks you to click a link, confirm details, or move money, run through these checks:

• Check the sender's address carefully. Legitimate banks use consistent, official domains. Look for subtle misspellings or unusual extensions like .net instead of .com.

• Go directly to the source. If an email or text claims to be from your bank, don't click any links. Open a new browser tab and navigate to the official website directly.

• Never confirm personal details over the phone unless you made the call. Genuine banks will never cold-call you and ask for your full password, PIN, or account number.

• Look for personalization. Legitimate communications from your bank will usually address you by name. Generic greetings like "Dear customer" are a warning sign.

• When in doubt, call back. Use the number on the back of your card or on the bank's official website, and not a number provided in the message itself.

Red flags of "smishing" and invoice spoofing 

Smishing uses text messages to trick you into handing over credentials or clicking malicious links, and invoice spoofing involves fraudulent payment requests designed to look like they come from a legitimate business or institution. 

These are the red flags to watch for: 

•  Unexpected texts asking you to verify a transaction you don't recognise

•  Links that don't match the sender's official domain when you hover over them

•  Urgent or threatening language pressuring you to act immediately

•  Invoices with slightly altered account numbers or payment details

•  Requests to switch payment to a new bank account, even if the sender seems familiar

•  Messages congratulating you on a prize, refund, or offer you didn't sign up for

•  Poor grammar or formatting inconsistent with previous communications from the same sender

Your accounts are only as safe as the device you use to access them. Strong passwords and MFA matter, but if your device is compromised, those protections can be undermined. Here's how to stay ahead of it.

The importance of real-time software updates

Software updates are one of the most straightforward ways to protect yourself online, yet they're easy to defer. Most updates include security patches that fix known vulnerabilities, which are gaps that attackers actively look for and exploit. The longer you delay an update, the longer those gaps stay open, even when you’re using secure digital banking platforms.

Enable automatic updates on your phone, computer, and any banking apps when possible. This applies to your operating system, browser, and any apps connected to your financial accounts. If a banking app prompts you to update before logging in, don't dismiss it. That prompt exists for a reason.

Your device security checklist

•  Enable automatic updates for your operating system and apps

•  Use a screen lock with a strong PIN, password, or biometric login

•  Avoid accessing your banking accounts on public Wi-Fi without a VPN

•  Install apps only from official sources such as the App Store or Google Play

•  Review app permissions regularly and revoke access for anything unnecessary

•  Enable remote wipe on your phone in case it's lost or stolen

•  Log out of banking apps when you're finished rather than leaving them running in the background

•  Avoid storing banking passwords or card details in your phone's notes app

Maintaining online banking safety in 2026 is a continuous process of education and technical vigilance. 

By moving toward phishing-resistant authentication, remaining skeptical of unsolicited communications, and choosing platforms that prioritize security and federal insurance, you can navigate the digital world with confidence. 

Here at Raisin, we take online security seriously. Raisin supports your financial journey by providing a secure marketplace where you can manage your savings across multiple institutions with a single, protected login. 

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.