Watch out for phishing scams
23 September 2008
Online banking offers an exceptionally convenient means of transferring your funds, but you must be careful to avoid phishing scams that could con you out of your details. How phishing scams operate is that they imitate a legitimate site in the hopes that you will enter your details, which are then sent to an unauthorised party. You may never know you have been scammed until after your funds have been transferred into a new account, as phishing attempts can be quite difficult to detect.
There are several ways you can minimise your exposure to phishing scams and thus practice safe Internet banking, however. Firstly, using a Web browser and computer security software that both have databases of suspected phishing sites can be useful. Another way of protecting yourself is to always make sure that the URL of the site you are about to use for online banking is the correct one before you enter any details. Many phishing scams have URLs that are a mistyping of a legitimate online banking site. Looking for any other unusual details, such as poor English usage or links that do not go to the appropriate banking pages can also be a clue. If you ever suspect a phishing attempt, enter the URL again load the page, and contact your bank if you are still suspicious of a phishing attempt.
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