Be careful where you
surf online - your bank account depends on it!
Wherever money is being
exchanged, it is safe to say that numerous con artists and hustlers are lurking
and looking to make an interception.
Thanks to the freedom and anonymous nature of the internet, online
banking scams have become more common.
Scam artists have learned to make this crime just as successful in
cyberspace as it is in the real world.
The banking industry was
built on public trust long ago, a trust that has been abused with the evolution
of the internet. As technology continues
to fall into the wrong hands, many consumers are prepared to take their banking
business offline to elude scams and identify theft schemes.
The popuarlity of banking scams
Banking scams fiercely
stormed the web from 1997 - 1999.
Because they've been around for so long, these crimes have become easier
to detect. You should make yourself
aware of any online banking site as many of them will be disguised as
legitimate institutions. Over the years,
the FDIC (Federal Deposit Insurance Corporation) has identified numerous
fraudulent banking sites. They have since
created a "consumer protection" section on their web page where consumers are
encouraged to report questionable sites.
This site also includes the FDIC "special alert", a list that identifies
suspicious banking institutions and allows consumers to compare the names with
those found on a database of genuine FDIC-insured banks.
Though many have caught
on, the waters are still plentiful for banking scam artists. Web surfers have developed a level of
convenience in transferring money from their own home. Getting it all done with the simple click of
a mouse makes it much more pleasurable than standing in line at a crowded
branch. Technology even offers an easier
way for consumers to apply for loans and credit lines, turning over results
much faster than before.
A good share of internet
crooks have found that creating fraudulent sites is an easy way to scam
unknowing surfers out of hundreds to thousands of dollars. After all, most of us will come to embrace a
banking site by looking for the usual: a few company logos, a decent amount of
text; maybe a photo or two that appeals to your financial senses. All of this is easily achieved by the
creative scam artist working with quality web programming software. They simply need a consumer to be amused just
long enough to lunge out for the bait.
This may occur when you notice an amazing offer on interest rates for
certificates of deposits, savings accounts or other financial material. Intrigued by the offer, many consumers sign
up and send a check through the mail or enter their details directly
online. For a scam artist, it is as simple
as that.
Telling signs of a
banking scam:
- Offers of unbelievable
rates on loans or savings accounts.
While similar deals may be offered by a legitimate institution, anything
out of the ordinary may be cause for worry.
- A lack of contact
information. If there is no way to
contact a particular company through an email address or telephone number, it's
a great chance that they are operating a scam.
- No presence of secure
certificates. Any website participating
in monetary transactions should be equipped with a digital certificate to prove
integrity. Entering personal or
financial details on any site that doesn't is a huge mistake.
These signs should be
more than enough to help you make a more informed decision. For additional details and tips on banking
scams, you can visit the FDIC website: http://www.fdic.com www.fdic.gov
