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How to do online banking safely

August 25, 2008

We do online banking to save time and trouble. While we do online transaction, an identity is required to be created and while we are opting to open our regular savings account or credit card account online. The issuing organization verifies the authenticity of that online identity. The new trend in cyber crime is now to steal the online identity to collect the detail of commercial transaction of the online user and using the stolen identity to perform illegal jobs like online transfer of money from someone else’s account or to hack the account whose identity the criminal managed to acquire.

We often think that we are taking enough precaution to hide our identity but cyber crimes are increasingly becoming very high tech that unless we are affected by some fraudulent activities in our credit card or in our bank account, it really becomes tough to realize that the problem of identity theft has hit us. These cyber criminals do these activities, termed as phising, by sending fake mails as if they are being sent by the bank about a serious problem of savings account and they ask for the personal banking details for up gradation of the account or for some system related purpose. They have the potential to wipe all our savings and investments if we are not careful. To prevent phising it is wise to

access account directly from the website, not from any link

always using password with unassuming kind of data

never reply to any kind of mail asking for personal details

Installing firewall protection and internet security system on the computer, and changing password after certain time is a good habit for online banking.

Entry Filed under: finance. .