As time goes on, our daily life is continually streamlined by advances in Internet technology. Gone are the days when you had to look up a stock in the paper and call a broker to buy it. In today's world, that stock can be yours with a few clicks of a button. However, as the convenience of technology grows, so do the threats that come along with it. Online banking is one of the most useful and promising new tools that the Internet has to offer. You can check your account balance, pay your bills, and transfer money, all while sitting in your underwear in front of your computer monitor. But, as more and more people start using online banking, many are asking: Is online banking safe?
According to the Identity Theft Resource Center, there were one hundred and fifty two disclosed incidents of personal data (SSN, account numbers, birthdays, etc) being compromised, which left individuals vulnerable to identity theft. These incidents potentially affected more than fifty seven million individuals. Now on first mention of these statistics, the majority of the public would quickly attribute this exposure of data to services that they associate with privileged information, such as online banking, PayPal, or Amazon.com. However, this general conception is very flawed. Over seventy-five percent of the incidents that left individuals exposed to possible identity theft were due to information that was held by colleges or universities being compromised. Out of one hundred and fifty two incidents of information being exposed to possible identity theft, only seven incidents involved banks. Of these seven bank incidents, none were the result of online banking.
Although these statistics are very reassuring, it is still important to be prudent when using online banking. Here are some simple tips that will help keep your safe while using online banking:
- Open your account in person: Many banks are trying to entice customers to open an account by offering a convenient online sign up form. However, it is much more secure to take the time to drive to the bank and open your account. You give out your most sensitive information when initially opening your account, so by doing this on paper, you are greatly limiting the potential for this information to fall into the wrong hands.
- Use a secure password: Take the time to come up with a secure password instead of using your child's birthday or your dog's name. The most secure passwords utilize a combination of numbers and letters. Also, consider using a mixture of upper and lower case letters. By creating a secure password, you are greatly limiting the odds of anyone being able to access your account without your knowledge. Just make sure you can remember your password or write it down someplace that is only accessible by you.
- Never give out sensitive information in an email: If you receive an email from your bank (or any company for that matter) requesting sensitive personal information, a red flag should appear in your mind. Normally, no well-recognized company will ask for this kind of information in an email. If you do receive an email like this, contact your bank immediately to find out if they actually did send this email.
- Log out at the end of each session: Instead of just closing the window, make sure you click the "Sign Off" button each time you finish viewing your account. By doing this, you are completely stopping the flow of information about your account, and also deleting any sensitive cookies about your current online banking session.
By following these simple tips, you can enjoy the usefulness of online banking while keeping your personal information secure.
About The Author:
For more resources and a comprehensive guide to online banking, visit http://www.online-banking-info.com
