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Aug, 2015

How safe is my Money online?

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How safe is my Money online?

Hello, this is Mike Putnam with the Geek4Cheap Tip of the Week. This week we are going to discuss how Safe Your Money is online when banking, using PayPal or Credit Card transactions.

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How safe is online Banking and Transactions?

Online banking, PayPal and Credit Card Transactions can be absolutely safe. Today’s institutions use 128-256 Bit Encryption to secure your data. It’s been estimated that this process would take millions of years to crack. This is the reason that fraudsters use other means to obtain your password such as Phishing Techniques. Below are some of the different ways to keep online banking safe.

Visit Bank or Online Retailer by typing the address

Many ways attackers get into someone’s Bank or Retailer account is by tricking a user into thinking they’re logging into their account when they’re really not. This technique is known as phishing and is often done through e-mail, where it informs you that you need to change your online information, verify a purchase, or something else that would want to make you log into your online account through a link in the e-mail. In reality the link points to a fake page that logs your account information.

This attack can be avoided by never clicking on a link to visit your online bank or Retailer. Instead if you need to log into your account always visit it through a bookmark you created in your browser or by typing in the URL.

Make sure the page is secure when entering data

Any time you visit a web page that is encrypting information a small lock will appear either in the bottom corner of the window or next to the address bar and the URL will start with https:// instead of http://. If you do not see this all data is not secure and anything you enter into the page could be captured and read by someone. When you visit your bank login or retailer checkout verify you see this lock before entering your username and password. If you do not see this, do not log into the page. Never send usernames, passwords, etc. through e-mail No bank or Retailer will ever request for you to send personal information over e-mail. Never send your username, password, PIN, account information, credit card, etc. over e-mail. E-mail is unencrypted and if intercepted by a third-party could be read. It’s also often stored on a server; if that server was to become compromised the attacker could read that e-mail with your personal information.

Use a strong password

Your password you’re using to log into your account should be a strong password. What this means is that it shouldn’t be something easily guessed such as your pets name. Your password should have number, special character, and different capitalization.

Make sure your computer is protected finally, it’s always a good idea to keep your personal computer protected, when an attacker attacks or infects a computer they could install a key logger that logs each keystroke you enter into a computer. These can capture your username, password, and other confidential data.

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