Five ways to fight rising fraud
Official figures show online banking fraud has risen by a terrifying 55% this year. Here are five simple steps you can take to help ensure your safety online.
According to the latest report from Financial Fraud Action UK, online banking fraud cost the industry a whopping £39m during the first six months of this year.
This is a 55% increase on the same period in 2008.
With more and more of us choosing to manage our accounts online these days, it's vital you take the necessary steps to protect yourself from online criminals.
Internet crooks can steal your identity, con you into handing over cash and even infect your computer with viruses.
In honour of this year's National Identity Fraud Prevention Week, I'll explain five top tips to help you fight back and protect your pocket from fraudsters.
1. Knowledge is power
First and foremost, it's crucial to keep a close eye on your finances.
Remember, internet banking allows you around the clock access to your accounts so make sure you regularly check your bank balance and monitor exactly where you money goes each month.
This should enable you to spot any suspicious activity sooner rather than later.
It's also a sensible idea to apply for a copy of your credit report to ensure no accounts have been fraudulently set up in your name. If you sign up for a 30 day trial with Credit Expert, you can check your credit history for free!
2. Protect your PC
Just as you would protect your home with locks on the windows and doors, it's vital you shield your computer by having a strong security system in place.
To safeguard your PC or laptop, make sure you use up-to-date anti-virus and anti-spy software, regularly scan your computer for viruses and install a personal firewall.
This will make it harder for online criminals to attack your computer in the first place.
Ensure you remember to regularly back up your files as a form of insurance in case the worst does happen. And always use strong passwords with a mix of numbers and letters.
For free help and advice about protecting your PC, you can visit Get Safe Online.
3. Watch out for phishy business
Phishing e-mails are used by fraudsters to try and trick you into handing over personal information.
Such e-mails are usually disguised as a letter from your bank asking you to update your bank or credit card account details by following a link to a fake website.
However, no legitimate bank is ever likely to request personal information over e-mail.
And although the web page you land on may appear genuine, never give away your details without first double checking the authenticity of the email.
4. Shop safely
If you're shopping online, make sure you are buying from a reputable company.
Look for the security padlock at the bottom of the screen and remember it is a legal requirement for online companies to display a geographical location on the site, such as an address or phone number.
When it comes to paying for purchases online, check the web address at the top of the screen changes from 'http' to 'https'; the 's' stands for secure.
5. Be vigilant
- Always keep any documents containing personal information, such as bills, wage slips or bank statements, in a safe place.
- Never throw away important documents without shredding them first.
- If your post is delivered to a communal area, make sure your mail is stored in a safe place until you can collect it.
- If you move house, don't forget to ask Royal Mail to redirect your mail to the correct address.
- Never give out information over the phone to people who can not prove their identity.
- Be wary about publishing personal information such as your date of birth or address on popular social networking websites like Facebook, Twitter or MySpace.
To find out more about how to combat fraud, you can read my article, '8 ways to protect your cash from fraudsters'.
**Articles featured on BeatThatQuote.com are for information purposes only and reflect the views of individual writers. Articles are not, and should not be considered as, financial advice. BeatThatQuote.com strongly encourages our readers not to rely solely on information contained within this article/our website, but to conduct their own research and seek independent advice about the financial products they purchase.**
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