Many people now successfully run their bank accounts on the internet, which gives them 24 hour access to their finances. So whether it is a personal or business account, it makes it easy to keep track of how things are going. The potential downside is that important personal details are now also available to anyone who can access this information but providing you are aware of certain practices and you use the security systems on your computer, this should not be a problem.
So what are the things that you need to look out for; the most common ones are phishing, malware and spyware. Phishing occurs when someone tries to get you to reveal information, such as your username and password for various accounts, including your bank account. The word is a play on 'fishing', as the fraudster puts out some bait and hopes that you bite. So what is this bait? It is usually in the form of an e-mail and will claim to be from your bank or other financial institution. It may ask you to verify your account details for their records or it may suggest that your account has already been hacked and they are just trying to sort this out. In the past these messages were easier to recognise as they looked unprofessional and most people were too suspicious to be fooled but now fraudsters are producing messages that look as though they could be from the relevant institution. (As it happens, your bank would never ask you to divulge account details or passwords in an e-mail). These messages may also have links or attachments that you are asked to open. If you do so, it allows the sender to view any information that you type in. You also need to be suspicious if you receive anything that greets you as a 'valued customer', as your bank would use your name. Even if you do reach an official bank website, you need to look out for pop-ups that request similar information. As hackers know that once you have reached a safe site, you are likely to be off your guard.
Malicious software, known as 'malware' is used to gain access to systems, where it can then gather information about the user. The term malware includes worms, viruses and spyware. Worms are computer programmes which use a network to spread that programme to other users on the same network. The particular problem with this is that the user does not need to do anything and would not know there was a problem until something went wrong, or the security system on their computer issued a warning. Viruses, as the name suggests, can replicate themselves and spread to other computers, either through a network or via CDs or DVDs. So you need to be careful about what you run on your system, especially if a programme or device is borrowed from someone. The lender could be just as unaware as you are that there is a problem. Spyware is installed on a computer to collect information about your habits when using the computer, such as which sites you visit. This could be a useful device but if it is on your system you should know about it.
So what do you need to do to bank safely on-line? You need to use up to date anti-virus software and make sure that you always install the latest updates. Do not write down any login names, passwords or PINs. Use secure websites, which will have the locked padlock icon at the bottom of the browser page. When you want to access any system where you put in your financial details, make sure that you type the address details into the web browser. Do not copy or click on links provided in e-mails to reach a website.
Many people now bank on-line and consequently banks, building societies and computing companies are working on your behalf to ensure that you can do so safely. If you receive any requests for information always ask yourself, who is requesting this and why? If you are still unsure, contact your bank and just check to see if it came from them. If you use all the on-line security available and just good old-fashioned common sense. There is no reason why you cannot bank safely on the Internet.
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