The level of knowledge and understanding that customers have about internet banking scams, such as phishing, vishing, and smishing, can vary significantly from person to person. While some individuals may be well-informed and vigilant about such scams, others may have limited awareness or understanding of these fraudulent activities.

It is essential for banks and financial institutions to educate their customers about the various types of internet banking scams and provide guidance on how to defend against them. This typically includes sharing information about common scam tactics, raising awareness about the warning signs, and offering tips to protect personal information and financial accounts.

Many banks and financial institutions have implemented security measures and provided educational resources to help customers defend themselves against scams. These resources may include online security guides, fraud prevention tips, and educational campaigns through emails, websites, or mobile apps. Some institutions also offer two-factor authentication, transaction monitoring, and alerts to help customers identify and respond to suspicious activities.

However, it is important to note that scammers continuously evolve their techniques and find new ways to exploit vulnerabilities. Therefore, even with the best efforts of banks and financial institutions, customers should also take personal responsibility for staying informed about the latest scams and actively adopting security practices to protect themselves.

By staying informed, being cautious with personal information, regularly updating passwords, verifying the authenticity of communications, and promptly reporting any suspicious activities, customers can enhance their defenses against internet banking scams. Additionally, customers should reach out to their respective banks or financial institutions for guidance and support in case they encounter any suspicious activity or have concerns about the security of their accounts.

Great question and great answer from Dr. Tahsen Alqatawni .

Banks are doing an excellent job of preventing scams through multi-factor authentication both for logging-in and also for specific transaction authorisation. Plus banks also have monetary limits on individual transations. Banks also do after-the-event fraud checks on unusual transactions to prevent them being processed or claw them back from the scammers. While these anti-fraud measures can be painful for legitimate customers, they do succeed in limiting the damage a fraudulent scammer can do.

The other factor impacting on customer awareness is the normal Gaussian distribution of IQ. The most successful fraudulent scammers are at the high-end of the IQ spectrum while those customers most likely to suffer are at the low-end or disadvantaged in other ways through old age or disability. This gives sophisticated scammers an edge in exploiting the most vulnerable customers, regardless of the banking industry's excellent controls and customer education measures.

Technical Report Cyber risk management: Avoiding cyber hell

The level of knowledge and understanding that customers have regarding internet banking scams, such as phishing, vishing, and smishing, can vary significantly. Some customers may be well-informed about these scams and the tactics used by cybercriminals, while others may have limited awareness.

It is essential for financial institutions and authorities to educate customers about internet banking scams and provide guidance on how to defend against them. This education typically involves raising awareness about the different types of scams, their characteristics, and common red flags.

Customers must be educated about frequent internet banking frauds to defend themselves. Banks and financial institutions frequently provide their consumers with tools, rules, and educational materials to raise awareness about these frauds and provide recommendations on how to be safe online. Additionally, public awareness efforts, government initiatives, and cybersecurity organizations all help to promote awareness about internet banking scams.

The customers' knowledge level differs depending on the information or awareness they receive about scamming tactics from financial institutions. Additionally, various institutions, apart from financial institutions, have been raising awareness about cybercrime.

The answer to this question can vary depending on individual customers. Some customers may have a strong knowledge and understanding of online banking scams and appropriate defense measures, while others may be less informed.

It is important to note that many banks and financial institutions provide resources and information to customers to raise awareness about online scams and provide advice on how to protect themselves. This may include awareness campaigns, security alerts, practical guides, and information on the latest scam methods.

It is recommended for customers to remain vigilant, stay informed about the latest scam techniques, and follow the security measures recommended by their financial institution. This may include regularly checking bank statements, protecting login information, using strong passwords, avoiding suspicious or unsolicited links, and regularly updating security software on their devices.