Justin Mongiardo
Coquitlam, British Columbia, Canada
Online Banking Scams to Avoid
Online banking seems to be the financial solution of the future. It simplifies people’s lives and grants easier access to account information. With it’s growing popularity, virtually every major bank is now offering online solutions. However, before you commit to uses the web to conduct your finances, be sure you’re aware of the problems that could arise.
E-mail phishing is a major way that criminals have used the online banking phenomena for personal gain. These e-mails look like official communication from a bank. They may even use trademarked logos and insignia. However, the content of the e-mail asks you to submit login information or other personal data in your reply. Real banks will never ask for such sensitive information to be sent via e-mail. Unfortunately, many people fail to realize this and more than two million people fall victim to phishing scams each year. Once your information falls into the wrong hands, it can be used to hack into your account and make transactions that cost you money. Sometimes, this information is even enough to steal a person’s identity.
In addition to being aware of false e-mails, you should never conduct your online banking where someone can see your information over your shoulder. This seems simple enough, but you may not realize someone is watching. So, try not to bank in a public place like a library or internet café. All it takes is a brief glance and someone could steal your banking password or account information.
The most aggressive type of fraud occurs when your identifying information is stolen using hidden software. This is known as a “trojan” program. Such software becomes embedded in a user’s computer without making its presence known. Trojans usually come with attachments downloaded from an unsolicited e-mail or through a less than trustworthy website. Once on your system, they can record information you type into online banking sites, like your username and password, and transmit this data to the trojan’s distributor. Thus, the integrity of your account can be compromised.
Banks are working hard to ensure fraud risk is minimized. One creative new method is to provide customers with a “smart card.” These function as a second form of identification, in addition to a username and password. The card needs to be inserted into your computer before you can begin an online transaction. So, if someone steals your password, they still can’t get access to your money without your card. The reverse is also true, if your card is lost, no one can access your account without your password.
If you do fall victim to online banking fraud, it is important to know your rights. In most cases, you should be able to recover any money that was lost. The key is to notify your bank as soon as you realize there has been a problem. The best way to do this is you call immediately and follow up with a certified letter. Once you make a claim of fraud, the bank is required to investigate. Be sure to have accurate account records available in case they are necessary for this inquiry.
Ultimately, the problems associated with online banking should not deter users from participating in this system. As long as your bank uses a secure network, and you are careful about your internet activities, you should be safe from harm. Furthermore, there are ways to resolve problems should the worst-case scenario occur. In the near future, online banking frauds should be all but eliminated and all consumers will be able to bank safely from the comfort of their own home.
- Related Videos
- Related Articles
- Ask / Related Q&A
- British Columbia is Going Green
- Promoting Culture in British Columbia
- British Columbia and the Northwest
- Go Nanaimo, British Columbia
- Justin Mongiardo Coquitlam, British Columbia, Canada
- Places to Go While Dating in British Columbia
- Explore the British Columbia Sunshine Coast
- Sporting Gear Storage in British Columbia




The Role Of The Commercial Loan Review In Restructuring Agreements
By: Michael Bartonolis | 09/12/2009The commercial loan review has two contrasting meanings for the lender and the borrower when they are attempting to reach an agreement on loan modification. The loan workout is supported by financial regulators, such as the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, because they realize that this kind of deal will be beneficial for both parties.
The Basics Of The Commercial Loan Review
By: Michael Bartonolis | 05/12/2009The owner of a commercial property, such as a shopping center, strip mall, apartment complex, office building and multi-tenant building, can collaborate with the bank or lender for a possible commercial loan modification. This adjustment to the commercial loan may result into the reduction of the amount that is due, the temporary payment of interests only, the extension of the duration of the loan, or a decrease in the interest rates.
You really can use ATM'S with no fees
By: Paul Ingersole | 04/12/2009Many people feel that ATMs are a convenience but one that is enjoyed at a price. If you visit an ATM by another bank at least once a day and get charge a two dollar fee each time, you are spending an extra fourteen dollars each week that could be spend on something else. Over the course of a year that adds up to a considerable amount of money. Free ATMs would solve this problem.
Probably the safest ATM machines are those that you can access from your car
By: Paul Ingersole | 04/12/2009But despite the risks, if you are careful, ATMs can be very convenient. Probably the safest ATM machines are those that you can access from your car. It is a lot harder to steal a purse or wallet from a car than it is while being in person. As long as you are safe and careful, ATMs can be perfectly safe.
Are ATM'S safe to use?
By: Paul Ingersole | 04/12/2009ATM machines are a great convenience. They allow you to get your cash twenty four hours a day. This means that if you need money at 2 AM you can have access to it as long as you can find an ATM machine. Unfortunately, the very thing that makes it convenient is also one of the things that can potentially make it unsafe.
Are ATM'S safe to use?
By: Paul Ingersole | 04/12/2009ATM machines are a great convenience. They allow you to get your cash twenty four hours a day. This means that if you need money at 2 AM you can have access to it as long as you can find an ATM machine. Unfortunately, the very thing that makes it convenient is also one of the things that can potentially make it unsafe.
Should we really have to be paying ATM fees
By: Paul Ingersole | 04/12/2009It is important to keep track of your ATM fees if you have a tendency to use ATM machines a lot. If you don’t you could end up spending more money than you actually have in your account. If you have overdraft protection then this really is not that much of a problem.
My Way To Make Money on the Net
By: Amy Tidmarsh | 03/12/2009During the credit crunch many folks are finding it difficult to survive. During these hard times many bosses are not increasing incomes, yet bills continue to rise worryingly. however , the general public have access to the internet these days and there are many paths to earn extra money when you have time to spare. Many of us sell successfully at auction houses such as Ebay and Amazon Market place. You might also opt to complete surveys from numerous websites ...
Windows Vs. Mac
By: Justin Mongiardo | 03/09/2008 | Operating SystemsThe debate between Windows and Mac users has been raging for years. However, no definitive conclusion has been reached. Ultimately, both systems have their benefits and drawbacks. Choosing between the two is simply a matter of personal preference and usability needs. Thus, it is important to consider the real differences between these two platforms when deciding which to use.
Will Xbox Join the Casual Gaming Revolution?
By: Justin Mongiardo | 03/09/2008 | Video GamesThe Xbox 360 is one of the top video game consoles on the market. However, it faces tough competition from other systems, like Nintendo’s Wii. One of the major arenas where the Xbox 360 faces trouble is in casual gaming. More and more players are opting for these “pick up and play” games rather than those with in-depth plots and complex storylines.
Why Viral Content is Great
By: Justin Mongiardo | 03/09/2008 | EthicsThe term viral content may conjure up ideas of computer hackers and crashes, but it is actually a positive feature of the web. It refers to information published on the internet that can be easily spread across the globe. Such content can take almost any form and include media substance beyond basic text. However, it must be something that others want to view, talk about, and share.
Vancouver Preparing for Next Olympics
By: Justin Mongiardo | 03/09/2008 | Causes & OrganizationsWith the Summer 2008 Beijing Olympics finished, the world has now turned its attention to the next global games. The upcoming 2010 Winter Olympics will be held in Vancouver, Canada. With only two years to go, the city has already begun preparing to do its duty as the host location. With lessons learned from this past Olympics, Vancouver is sure to pull off a successful set of winter games.
Vancouver for the Environmental Enthusiast
By: Justin Mongiardo | 03/09/2008 | WellnessVancouver may be one of Canada’s largest urban centers. However, this does not mean it is a concrete jungle with congested streets and excessive smog. In fact, Vancouver has a lot of great ways to get in touch with nature. With all its parks and gardens, Vancouver could be the dream locale for an eco-friendly vacation. Vancouver’s mild climate has allowed for the cultivation of a wide array of both indigenous and imported plant life. No matter what season, the city always has a great display
Vancouver’s Diverse Economy
By: Justin Mongiardo | 03/09/2008 | EconomicsVancouver has one of Canada’s most diverse and thriving economies. Its location and population make it an ideal spot for an array of productive industries. From its centuries-old shipping industry to modern film production, Vancouver can host it all. This means more jobs and a more stable monetary flow both for the city itself and for Canada as a whole.
Turn a Web Design Hobby Into Profits
By: Justin Mongiardo | 03/09/2008 | Web DesignIf you enjoy designing websites, you can turn your hobby into a profitable business. There is a great market for web design companies as more and more people are turning to the web to promote their ideas. What’s more, web design companies are relatively easy to start and operate. All it takes is some basic planning and you could be on your way to making great profits right from your computer.
The Future of the Xbox 360
By: Justin Mongiardo | 03/09/2008 | Video GamesWhen it was first released, the Xbox 360 game console was truly at the top of its field. However, competition in the video game industry is fierce, and developers must constantly work to improve their designs. Thus, Microsoft is making strides towards improving its most powerful game console and bringing the Xbox 360 one more step into the future.