Which practice helps ensure secure online banking transactions?

Deploying two-factor authentication significantly enhances the security of online banking transactions. This method requires users to provide two distinct forms of identification before gaining access to their accounts, typically combining something they know (like a password) with something they have (such as a mobile device receiving a one-time code). This layered approach makes it much more difficult for unauthorized users to access an account, even if they were to obtain the password.

For instance, if a hacker acquires a user's password through phishing or other means, they would still need the second factor of authentication to complete the login. This critical extra layer of security not only mitigates the risk of unauthorized access but also reassures users that their sensitive financial information is better protected against potential breaches or theft.

In contrast, using public WiFi often exposes users to significant risks, such as data interception. Writing passwords down can lead to them being easily discovered by others, weakening security. While relying on software updates is essential for protecting against vulnerabilities, it does not provide the proactive safeguard that two-factor authentication offers during the transaction process itself. Hence, implementing two-factor authentication stands out as a robust method for securing online banking activities.