While the Internet has made daily tasks like banking and reading the news easier and more convenient, cybersecurity remains a major concern. IT specialists and computer hackers seem to be caught in an endless game of cat and mouse. Despite advancements in security online, there are still major security breaches that grab headlines every day.
eBay was the latest victim of a security breach, when a cyber-attack compromised its database. eBay sent an e-mail to its 145 million active users advising them to change their passwords. Although eBay claims there is no evidence financial or credit card information was stolen, it’s still important to keep a watchful eye on your credit report, as fraudsters can use your personal information to apply for credit cards and loans in your name.
When surfing the World Wide Web, it’s important to exercise caution and keep your personal information safe. Here are three of the most common scams to be on the lookout for online and how to protect yourself.
E-mail Fraud/Phishing
Have you ever received an e-mail that appears to be from your bank urging you to change your password? Chances are the e-mail is from a fraudster looking to steal your financial information.
E-mail fraud – or phishing, as it’s commonly referred to – is one of the most prevalent forms of fraud online. The fraudsters are quite sophisticated today – they send you e-mails that look like they came directly from your bank or credit card issuer. These e-mails usually ask you to update your personal information online by a deadline or your account will be closed. When you click on the link in the e-mail, you’re taken to a website where you’re asked to enter your personal information, including your credit card and banking information. Instead of updating your personal information, you’re giving it directly to fraudsters, who can go on a shopping spree at your expense.
How to Protect Yourself
Never disclose personal or financial information online by e-mail. Although your bank may send you offers and reminders by e-mail from time to time, most wouldn’t send you a request to update your personal information online. When accessing your bank online you should never click on a link from an e-mail – always enter your bank’s website directly using the website address. If you receive a fraudulent e-mail you should report it and delete it immediately.
Malware
Malware – short for “malicious software” – is designed to disrupt your computer’s operation, access personal information, or perform unauthorized activities. Common types of malware include computer viruses, spyware, Trojan horses, and worms. Your computer can be infected with malware through various ways, including e-mail, pop-up ads, websites, and instant messages. If your computer has been infected, cybercriminals may be able to steal highly sensitive information, including banking information and passwords entered online. Signs your computer may be infected with malware include system performance issues and difficulty accessing the Internet.
How to Protect Yourself
The best way to protect your computer from malware is to not get infected in the first place. When you’re using a computer, it’s important to regularly run anti-virus, anti-spyware and firewall software and ensure it’s updated. You should schedule these programs to run once a week when your computer is up and running. Not only will this help with your computer’s performance, it will also help ensure your personal information is safe and sound from cybercriminals.
WiFi Hotspot Scam
WiFi, short for “Wireless Fidelity,” allows your computer to connect to the Internet without wires via radio technology. WiFi may be a convenient way to access the Internet, but it’s also a good way to have your personal information compromised if you’re not careful.
Whether you’re at a local coffee shop, waiting at the airport terminal, or at the public library, chances are you’ll be able to connect to the Internet via WiFi. It’s important to use extra cautious when connecting to the Internet wirelessly in public. Fraudsters sometimes disguise computer-to-computer networks as WiFi hotspots in an attempt to lure you in and steal your personal information.
How to Protect Yourself
The simplest way to protect yourself is to never connect to an unsecured wireless network. It’s best to only connect to a secure wireless network with a password. You should also avoid doing sensitive activities online wirelessly like banking and making online purchases with your credit card. When connecting wirelessly, always make sure you’re connecting to a “wireless network” and not a “computer-to-computer” network.
The Bottom Line
Although cyber security has come a long way, it’s still important to be extra vigilant when surfing the World Wide Web. By following a few simple rules you help keep your personal information safe online: never click on links in e-mails that appear to be from your bank, keep your computer’s security software up to date, and use extra caution when accessing the Internet wirelessly. For more information and advice on your protecting yourself online, please visit the Canadian Bankers Association – Staying Safe Online.
