Ever notice how hard it is to follow an old path in the forest? It
twists and turns and there are lots of side paths that lead nowhere.
Maybe it’s time to take a page from nature. Make the pathway to the funds
that you use for Internet transactions hard to follow.
Bank Account
It might be a good idea to have a separate bank account that you only
use for Internet transactions. Don’t make it a joint account with your
significant other; one name on the account protects others.
Open the bank account at a bank other than the bank where you have most
of your existing accounts. That way all your eggs are not in the
same basket or under the same financial institution’s roof.
It’s also good idea to keep a minimal amount in the account. It
hurts a lot less to lose 50 bucks than 500.
Credit Card
It’s not a good idea to use any ol’ credit card (or multiple credit
cards) on Internet transactions. The same principles as you use to
protect your bank account can be applied to the credit card you use over the
Internet.
Get a new credit card and only have one card holder (You). Don’t ask
for another credit card from your existing company, use a different
company.
Most people don’t realize you can call and request a credit limit
reduction. After you receive the card, all you have to do is call
that company and have them REDUCE your credit limit to an amount that
won’t be a financial disaster if a crook runs up your balance.
Each month you should go over your statement with a fine tooth comb.
If you find unauthorized charges, take action immediately! Call your
credit card company and let them help you through the process.
Computer Banking Software
Do you use one of the popular financial software programs, such as
Quicken or Quick Books to keep up with your checking account? When you
installed the software did you enter your financial institution’s name and
your account numbers? Do you download transactions from that site? If
you are nodding your head, “yes” right now, you may be a risk for
Internet Identity Theft. In all likelihood, your information is secure;
however there may be a small risk.
Downloading financial transactions is handy and in most cases done very
securely. While most financial institutions are generally very secure,
your web browser might be at risk.
A web browser is a software package that allows you to display and
interact with web pages. Most people are familiar with the “Internet
Explorer” Web Browser. US-CERT (United States Computer Emergency Readiness
Team) has an article that explains how to evaluate your browser’s
security settings. Check out the US-CERT’s article at:
http://www.us-cert.gov/cas/tips/ST05-001.html.
If the crooks can’t get in they can steal your stuff, so remember to
always log out after downloading your data and it’s a good idea to
disconnect from the Internet whenever you’re not using it. If you aren’t
connected, nobody can hack in and steal your information!
You could put a hefty lock on the Internet door by removing your
account numbers and/or financial institution from the software. When
installing the software it might be best to check the box, “This account is
not held at a financial institution,” or something similar to that
request. It does mean that you won’t be able to download transactions; it
also means that your account information can’t be stolen by crooks. It’s
up to you to decide how safe you feel.