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Do Security Fears Prevent You from Online Banking?


According to this timesunion article, online banking is growing despite security fears. The convenience of online banking is outweighing the worries. Popular features like being able to access images of your canceled checks are attracting more to online banking. The article didn't mention interest rates, but I'm sure this is another major factor.

One of the fastest-growing scams is phishing in which bogus emails attempt to trick people in providing account passwords and other personal information. One study quoted by the article found phishing attacks were up 28 percent in the year ending May 2005.

Online Security Tips

This page at ING Direct offers some good security tips to avoid being tricked by online fraud like phishing. One simple tip is to ensure the spelling of the domain name is right. In phishing emails, the domain you see in the email is likely different to where it'll take you. A good practice is to avoid clicking on any links in emails. Also, before logging into a site, make sure the padlock icon on the bottom of the browser is shown to be locked. By clicking on this lock, a popup from your browser should appear to verify the identity of the website.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #1
Experts are warning those who wish to contribute to relief efforts to be careful of phishing scams. This was from Yahoo News.

Internet-security company Websense said on Sunday that it had found a "phishing" e-mail campaign that seeks to trick Internet users into providing their credit-card numbers to a Web site that looks like one run by the Red Cross.

In order to avoid such scams, donors should type the address of charitable Web sites directly into their browsers, rather than clicking on a link in the e-mail, experts said.