Access to information and entertainment, credit and financial services, and products from every corner of the world is greater than earlier generations could ever have imagined. Thanks to the Internet, consumers may order products, download games and music, or conduct online banking 24 hours a day.
However, the flip side is that the Internet also affords online scammers, hackers, and identity thieves access to personal computers, information, finances, and much more. According to the Federal Trade Commission, there are millions of victims of identity theft a year. It's often difficult to know how thieves obtain a victim's personal information, but instances of ID theft often start when online data is stolen.
The following is a glossary of terms, provided by the Federal Trade Commission, aimed at educating consumers on various software and computer scams used to steal and protect individuals from ID theft:
Anti-Virus Softare
Protects personal computers from viruses that can destroy data, slow a computer's performance, cause a crash, or even allow spammers to send email through a private account.
Bizopps
Shorthand for "business opportunity;" some schemes involve extravagant and unfounded earnings - claims and are actually fraudulent business ventures.
Browser Highjacker
A common spyware program that changes a web browser's home page automatically, even if the owner changes it back.
CAN-SPAM Act
A law that prohibits senders of unsolicited commercial email from using false or misleading header information or deceptive subject lines, and requires they identify each email as an advertisement, among other provisions.
Download
To copy files from one computer to another; to view a website or other web material with a browser.
Drive-by Download
Software that installs on a computer without the owner's knowledge when he or she visits certain websites. To avoid drive-by downloads, make sure to update operating system and Web browser regularly.
Encryption
The scrambling of data into a secret code that can be read only by software set to decode the information.
End User Licensing Agreement (EULA)
A provider's legal terms. An "end user" may be required to "click" to accept before downloading software.
Exposure
When sensitive data is released to someone without authorization.
Filter
Software that screens information on the Internet, classifies its content, and allows the user to block certain kinds of content.
Firewall
Hardware or software that helps keep hackers from using a personal computer to send out personal information without permission.
Hacker
Someone who uses the Internet to access computers without permission.
Hidden Dialers
Programs that a user may unknowingly download that can use a computer to silently dial expensive phone calls which later show up on a phone bill.
IP Address
A computer's "address," which consists of a series of numbers separated by periods.
Keystroke Logger
A device or program that records each keystroke typed on a particular computer.
Malware
Criminals sometimes use malware, programs like viruses and spyware, to get into a personal computer. Once there, the criminal can steal information, send spam, and commit fraud
Online Profiling
Compiling information about consumers' preferences and interests by tracking their online movements and actions in order to create targeted ads.
Personal Information
Information that can identify someone, such as bank and credit card numbers; income; Social Security Number; or name, address and phone numbers
Phishing
A scam that involves Internet fraudsters who send span or pop-up messages to lure personal information from unsuspecting victims.
Spam Zombies
Home computers that have been taken over by spammers who then use them to send spam in a way that hides the true origin.
Spam
Unsolicited commercial email, often sent in bulk qualities.
Spyware
Software program that may be installed on a personal computer without the owner's consent to monitor his or her use, send pop-up ads, redirect the computer to certain websites, or record keystrokes, which could lead to identity theft.
Trojans
Programs that, when installed on a computer, can enable unauthorized people to access it and sometimes send spam from it.
Virus
A program that can sneak onto a computer - often through an email attachment - and then make copies of itself, quickly using up all available memory.
Wi-Fi Protected Access (WPA)
A security protocol developed to fix flaws in WEP. Encrypts data sent to and from wireless devices within a network.
Worm
A program that reproduces itself over a network and can use up a computer's resources and possibly shut the system down.
With awareness as a safety net, computer users conducting online banking or other activities that require the use of personal information can minimize the chances of identity theft. Vigilance is required when it comes to protecting personal information, a computer, and even yourself.
Do you know you can credit accounts, check account balance and make savings on your account without the usual stress that is attach to banking? You can avoid the usual traffic en-route your bank and still make banking transactions by simply using your mobile phone with internet connectivity to log on to your bank's website. What are you waiting for? Make banking easy for you and reduce the stress that is associated with your account by banking online.
Online banking has its own risks too, you cannot rule out the risk of encountering fraud totally although it has been reduced to the minimum these days. You have to know that the security of your account can be improvised if your bank develops a major problem on their website, like it happened to Halifax Bank in 1999 when a bug repair backfired and customers started viewing details of other customers.
Online banking has facilitated various banking operators with ease for the bank and you the customer. The success of this kind of banking originates from the ability of the banks to give the account users unique usernames and passwords. Whenever you logon to the bank's website with your unique username and password, you will be able to access your account.
All banks that render online banking services claim that they have strong firewalls that will prevent unauthorized entry into your account. You should not get carried away, for these claims have been proven false more than once by hackers. Make sure you sign out properly from your online account once you are through with it, to prevent entry by someone else.
Running an online bank account does not mean you are off bank charges. Although the charges attracted to online accounts are minimal, you should confirm that they are accurate and error free. If you notice charges you don't understand, contact your bank immediately to demand an explanation.
For the success of globalization and bi-lateral business relationships between countries, our financial institutions need to be interwoven. Building a central financial institution looks almost impossible but with internet and online banking network, it is now not only possible but achievable as well.
For busy business groups or individuals who travel a lot and run business in different parts of the world, online banking has made their transactions a lot easier and convenient. With the rate at which the internet restructured our banking, one can believe that it will only get better.
Are you a good gambler or do you love playing online casino games? If yes, then you may be facing hard time funding your online casino account because your bank has blocked the use of your credit card in gambling activities. But with online account you can now directly fund your casino account directly from your bank without stress. All you do is login, fund it, and logout.