Protect Yourself from Online Banking Fraud
You can protect yourself from online banking fraud and prevent becoming a victim. As more people are finding it convenient to conduct their banking needs online, there also has been an increase in fraudulent activity.
With key loggers, virus attacks, and phishing scams becoming more prevalent, fraudsters can wreak havoc on your life and your finances once they gain access to your information.
While most companies that do business on the internet, including financial institutions, are very diligent in providing online protection for their customers, the first line of defense is knowledge about what you can do to protect yourself.
Install and regularly update antivirus software on your computer. These are your first line of defense as they are programmed to look for, and alert users of, the very malware that will compromise your information.
Beware of accessing your account information when using an unsecured wireless network. Accessing sensitive information over a non-secure network leaves your computer exposed to possible threats. This occurs even if you are just checking the current bank rates or visiting a site where you do not have to enter an ID and password. Make sure that the network is safe before you access information.
It is a good practice to change your passwords often, at least every six months. Create a password with a high degree of security by incorporating upper and lower case letters, characters, and numbers.
Do not use the same ID and PIN/Password for every online account you have. Never disclose your login credentials to other people, and do not store your ID and password information where others could gain access to them.
If possible, do business with a financial institution that offers two factor authentications for accessing your information online. If offered by your financial institution, take advantage of hard or soft tokens, which provide a unique one time use password each time you access your account.
While nothing is foolproof, new scams and viruses are being developed every day. You can protect yourself from online banking fraud by following sensible guidelines, as well as having a general awareness of the threats out there.
For additional resources involving financial help, please view American Express Jet Blue Credit Card and Best Blackberry Banking Apps on this website.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.
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2 Comments on Protect Yourself from Online Banking Fraud
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Best Credit Monitoring Services | Online Banks on
Fri, 5th Nov 2010 6:03 am
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Best Identity Fraud Protection Services | Online Banks on
Fri, 5th Nov 2010 10:02 am
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[...] additional resources involving financial help, please view Protect Yourself from Online Banking Fraud and Checking Account Fee Increases on this [...]
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