home loan finance blog
Phishing occurs when when your personal information is stolen from information you give out when online. When your personal information is stolen by hackers it can then be used to purchase goods, take money from accounts or set up a false identity. More and more frequently the internet is being used for online shopping, banking and requesting information. I have used the internet for all these things and I love the convenience of online transactions. I did not expect to have my information stolen.
Hackers have developed ways to capture the information that is entered into online forms. One way of doing this is send fake emails that then ask you to click on a link to another site. Often these sites are designed to look like the genuine site for a financial institution or another legitimate business. Once your log in information is entered it is collected by a third party and can be used to access your accounts and steal your identity.
Often these scams are set up so that you feel pressured to act straight away. They may say that your account has been frozen and unless you respond as directed your money will not be released. You may be given a phone number to call to get your account repaired. When you phone that number your details then get collected and your accounts are at risk.
Only ever contact your financial institution using the numbers that are publicly available. Do not give out your personal information on the phone. Check your bank statements when they arrive and report any unauthorised transactions immediately. It is a good idea to get a copy of your credit report twice a year and check it for fraudulent credit applications.
Make sure you keep your computer and browser up to date with current software and security. Download and install recommended updates regularly. When completing ANY form online check to see if there is a padlock indicating that the site is secure. If you suspect a site then do not give out your information. It takes only a few moments to steal your information but the consequences can be devastating. I was fortunate that my accounts had not been accessed and my cards had not been used.
If you have a card declined at any time when you make a purchase then follow it up with the vendor to find out exactly why it has been refused. Do not be fobbed off with ‘security risk but we cannot tell you any more’. If there is any risk, change passwords and contact your bank to advise them of your concerns. It is too late once the money has been stolen
My mistake was not that I clicked on a fraudulent email or gave out my details online. I did not keep up to date with my browser and my security software. I have purchased a lot of things online that I just download and install. By not keeping up to date with the latest protection I placed myself at risk. Not everyone is as lucky as me and many people lose their savings through phishing. Take precautions to avoid identity theft online.