I’d agree that if an online banking customer is not careful, things could go horribly wrong. Be aware of what is going on around you and watch out for those phishing scams.

As aPC Worldreader, you know how the Internet can make your life easier. But when it comes to conducting sensitive financial transactions–such as applying for a loan, paying the mortgage, or trading stocks–are you inclined to close the browser and reach for the phone?

If so, you have lots of company. The TowerGroup research firm reports that only about one in four banking customers use online banking (numbers are a bit higher for customers age 40 and under). While online banking is clearly gaining in popularity–eMarketer estimates 40 million U.S. households will bank online in 2006, with 5 million more coming on board each year thereafter–it’s easy to see why folks might think twice. Every day brings reports about hacker attacks, customer-information thefts, and other security breaches. TV ads feature identity theft victims looking hapless as a stranger’s voice crows about buying stereos and trips to Maui. It’s enough to make you yearn for your old paper passbook. [Read the rest]

[tags]phishing,hackers,internet banking,web scams,financial transactions[/tags]