IS ONLINE BANKING DANGEROUS TO SHOPHOLIC LIKE ME???

How dangerous is online banking?

Related to my madness in online shopping of course i have done a lot of online banking such as CIMB CLICKS, MAYBANK2U and Paypal to complete the order. So what is Online internet banking? Let me tell you, it has created a convenient way for us to handle our business without leaving our home. But nowadays there are many bad news and dangers associated with internet banking. So, i really need to take precautions and avoid any problems in future. Here are a few things to watch out for :-

1)  Hacking

Most banks have safeguards against hacking, but your personal computer may not have the sophisticated technology that the banks incorporate. If you don’t have a good spy-ware detection and elimination program installed on your computer then you could be advertising your personal information to those who will do harmful things with it. Be sure your computer is up to date and safe against hacker attacks especially PLEASE DONT use WIFI (except in your house) when u make the online transaction because the chances is big and easy to hack into your account quickly. 

2) Up-to-Date Information

One of the lesser thought about dangers is the actual information. Many banks offer up to the minute transaction activity, and others don’t. It’s a slippery slope if we start relying on the balance information shown on our internet accounts, we could easily overdraft our accounts. Many people will toss out the check registers, and with debit cards, this can be very easy to forget to update them if we do keep them. When I shopping using my Debit card or Credit card, i am always alert and knows the amount balance in account. Usually, i will double checking the amount spent when done shopping just to make sure its correct and in budget.

3) Secure Logins

You need to make sure that your bank has completely secure log in areas. It’s unfortunately not uncommon to end up with a virus that redirects your web browser to a mirrored site. These sites can look identical to the banks sites. Many sites that hold sensitive information have included extra security measures that are hard to mimic. Even though they are hard to mimic they aren’t fool proof. Ensure you know the banks log in address and that your browser was pointed there before you log in. Also keep your virus protection up to date to help avoid this. Always always always remember your username and password; and DON'T write it in your handphone or elsewhere. In addition, please make sure your username and password not complicated and easy to remember to avoid confusion and problem in future transaction.

4) Suspicious Emails

Chances are your bank will not ask for secure information through an email. If you receive an email from your bank asking you to log in, don’t click the link provided in the email. Instead open a new browser window and log in to your banking account that way. One of the easiest ways for your information to be compromised is to click a link and enter your information on a site that looks like your banks but actually isn’t. I am not bother at all to any email from the bank because if they have any problem or information, they will call us or update in official website for any promotions or news.

5) Fly by Night Banks

A simple internet search can reveal thousands of banks you’ve probably never heard of offering high interest rates accounts with very little deposit required. The problem with this is that you are putting your personal information, and your money, in danger by signing up for these. Be leery of any account offering high interest rates and very little customer service. These companies may only exist to steal your information, and will disappear when they’ve done that.

6) Usernames and Passwords

It’s tempting to use one username and password for all your online accounts, but this really isn’t smart. If an email account is hacked, then the person who got the information now has all the information they need to steal your money from under your nose. You need to change your usernames and passwords frequently.

References :  http://www.finweb.com/banking-credit/the-dangers-of-online-internet-banking.html#ixzz3psDjMHzR