Consumers are conducting financial transactions in cyberspace more and more frequently. Consequently, they may become vulnerable to tracking, hacking, identity theft, phishing scams, and other online risks. While nothing can guarantee complete safety in cyberspace, much can be done to understand and minimize your exposure to risk.
Here are some basic ways to help maintain privacy on the web:
Understand privacy policies. Before conducting any financial transactions online, carefully read the privacy policies of each institution with which you plan to do business. Find out how the business intends to maintain and secure your financial information. If you don’t understand the legal jargon, ask questions. You can always email or call a business and request a simplified explanation of its privacy policies.
Avoid using easily decipherable PINS and passwords. When deciding on PINS, passwords, and other log-in information, avoid using your mother’s name, your birth date, the last four digits of your Social Security number, or your phone number. Avoid other obvious choices, like a series of consecutive numbers or your home town. Also, avoid using the same PINS and passwords on multiple sites. Then, if your PIN or password is discovered on one site, the others will remain secure.
Use secured web pages. Use only secure browsers when shopping online to guard the security of your transactions during transmission. There are two general indicators of a secured web page. First, check that the web page url begins with "https." Most urls begin with "http;" the "s" at the end indicates that the site password will be encrypted before being sent to a third-party server. Second, look for a "lock" icon in the window of the browser. (It will not be in the web page display area.) You can double-click on this icon for details of the site’s security. Be cautious about providing your financial information to websites that are not well known. Larger companies and well-known websites have developed policies to protect the rights and financial information of their customers. So, resist the temptation of providing personal information to companies that are unfamiliar to you.
|
Keep your operating system up-to-date. High-priority updates are critical to the security and reliability of your computer. They also offer the latest protection against malicious online activities. When your computer prompts you to conduct an update, do it as soon as possible.
Use updated antivirus software and spyware. Viruses and spyware are two kinds of potentially malicious software from which you need to protect your computer. Keep both your antivirus and your spyware programs updated.
Keep Your Firewall Turned On. A firewall helps protect your computer from hackers who might try to delete information, crash your computer, or steal your passwords or credit card numbers. Make sure your firewall is always turned on.
Do Your Homework. To learn more about securing your computer and protecting your personal information, visit www.getnetwise.org, www.onguardonline.gov,or www.wiredsafety.org. These websites provide valuable information to help you protect your private information when conducting financial transactions online.
In addition, the Federal Trade Commission (FTC) works for the consumer to prevent fraudulent, deceptive, and unfair practices in the marketplace. To file a complaint or to obtain more information, visit www.ftc.gov or call 1-877-FTC-HELP (1-877-382-4357).
While maintaining anonymity on the web can be challenging, it’s important to protect your financial information and the financial information of your family. In time, more protective measures will be established so you can feel assured that your financial information will be protected from unknown third parties. In the meantime, it is up to you to safeguard your financial information through education and awareness. $
Current tax law is subject to interpretation and legislative change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the particular set of facts and circumstances. The information contained in this newsletter is not intended as tax, legal, or financial advice, and it may not be relied on for the purpose of avoiding any Federal tax penalties. You are encouraged to seek such advice from your professional advisors. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Written and published by Liberty Publishing, Inc. Copyright © 2009 Liberty Publishing, Inc.