Do’s and Don’ts for Safer Online Shopping

Great tips for staying safe when you shop online from Bank Info Security.

Do’s and Don’ts for Safer Online Shopping

Linda McGlasson, Managing Editor
BankInfoSecurity.com
December 14, 2007

Before you wrap up your holiday shopping, take a quick glance down this list of tips designed to protect you – and your customers – from identity theft.
Do …

Use a Credit Card instead of a Debit card - Using Credit cards enables you to dispute the charges if you don’t get the product that you purchased. With a debit card, you lose your money without dispute in case the deal turns sour.

Avoid wireless transactions- A fraudster in close proximity may sniff your personal information through a wireless connection. Teens and tweens are using sniffers, which can be found as freeware on the Internet

Ensure the Connection is Secure- Look for two signs on your connection browser to ensure a secure online purchase: the site address should read https or shttp instead of http, indicating a secure connection, and a small lock should appear in the browser toolbar at the bottom. Reputable online businesses offer additional protection for their customers such as “hacker safe” rating, “Google Checkout” or “PayPal Verified.”

Never use public computers- Never make online purchases while sitting in Internet cafes and libraries. It’s difficult to know who is keeping a watch on you physically or electronically. You can’t tell what software has been installed on a public computer to keep a track on your usage. Key logging software is insidious and can’t be detected.

Your homework -Getting feedback on the website you are planning to buy from is easy. You can read about the seller’s reputation from other buyers by looking for their comments online. Look for a “trust mark” from a reputable organization to make sure the online retailer is reliable and has a proven track record of satisfying customers.

Understand the “Privacy Policy” -Find and read the website’s privacy policy to understand what personal information is being requested as well as why and how it will be used. If the site doesn’t have a privacy policy, then consider any information you provide them to already be sold, especially when it comes to email address, phone number and mailing address.

Understand the Transaction Terms- Before you complete the transaction, carefully read the merchant’s policies concerning returns and refunds, shipping costs, and security and privacy protection.

Recognize Spam-! Beware of senders whose names you don’t recognize, and look for typos and misspellings in the subject line. Also, "too good to be true" prices are possible spam too! Don’t know how to spot a fake? Try spotting the fakes from the International AntiCounterfeting Coalition: http://www.iacc.org/gallery/index.php .

Don’t …

Give out Your Personal Information-Your date of birth and where you live are enough for someone to set up a credit card in your name! Trusted websites will restrict from asking personal details online for a transaction.

Shop At Sites You Don’t Trust- Shopping with websites of companies that you know and trust is the beginning of safe and hassle-free online shopping.

Respond To Unsolicited Email- Never confirm your billing information or your credit card information through an email -- because your information is probably not reaching a legitimate retailer. If you receive an email of this type, contact the company immediately.

Transact Unless You Are Sure a Site Is What It Claims To Be- Those genuine-looking websites may be fraud to lure you to give out your username and passwords. Look at the URL carefully and use a secure connection for your payment submission.

Forget To Review Your Monthly Credit Card And Bank Statements- You will be able to identify any errors or unauthorized purchases and also keep track of your account balance. In case of any disparity or unauthorized transactions, notify your card issuers immediately and call their customer service promptly.

Forget To Keep Records Of Your Online Transactions- You never know when you will need them for a refund or to file a dispute. All your transaction confirmation e-mails should be neatly organized in one folder for easy accessibility when needed.

Overlook Your System Security— Clean your computer with free online software that detects spyware, and install a firewall to ensure that sites you shop at don't install spyware on your computer.

You can view original article at BankInfoSecurity.com

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10 Tips to Prevent Season's Thievings

10 Tips to Prevent Season's Thievings

Linda McGlasson, Managing Editor, BankInfoSecurity.com
November 21, 2007


You know “Black Friday” – the day after Thanksgiving, when holiday shoppers flood the brick-and-mortar stores.
But do you recall “Cyber Monday” – the Monday after Thanksgiving – the most famous online shopping day of all?

Cyber Monday originated with Shop.org in 2005. Since then, consumers have flooded websites each Cyber Monday. But right behind that surge of online shoppers come the identity thieves, says Anne Wallace, executive director of the Identity Theft Assistance Center (ITAC). “Criminals consider personal data the ultimate gift,” Wallace says.

Around 11 percent of online shoppers intend to do 75 percent or more of their holiday shopping online, according to a recent Forrester Research study, translating to $33 billion in 2007, up from last year’s $27 billion.

Fraud losses related to U.S. e-commerce will top $3.6 billion in 2007, up 20% from last year, according to a report by the vendor CyberSource (View report: http://www.cybersource.com/news_and_events/view.xml?page_id=1649). The increase in dollar loss is due mostly to growing e-commerce sales, as the percentage of transactions that are fraudulent has held steady. The Identity Theft Assistance Center offers free assistance to victims of identity theft and helps law enforcement catch and convict criminals.

Educating consumers is key to identity theft prevention. “Taking a few easy precautions while shopping during the holidays will help keep you from being a victim,” Wallace says.

For financial institutions, educating customers isn’t just a good thing to do; by November 1, 2008, it will be a necessary part of every institution’s Identity Theft Prevention Program, (See related story: ID Theft Red Flags Update: Customer, Employee Education a Priority )

“Customer education will be expected, and it is very important. We’ve stressed it for a long time,” says Amy Friend, Assistant Counsel for the Office of the Comptroller of the Currency. As far back as 2000, the OCC published a brochure on identity theft. “We encouraged institutions to provide it to their customers,” Friend says. “We consider customer education quite important. It benefits the customers, and it benefits the institution. At the same time institutions will need to be reviewing their policies and procedures and educating their employees as well.”

Here are some best practices for your customers to follow while observing Cyber Monday.

Prevent Season’s Thievings -- 10 Rules for Safer Online Shopping

1. Shop only at Internet merchants you know and trust. If in doubt, check with the Better Business Bureau (http://www.us.bbb.org/)

2. Never share your Internet passwords with anyone. Use different passwords for different Web sites.

3. Do not provide your social security number, birth date or mother’s maiden name in an email or within a Web site. When an email asks for this kind of information, this is a sure sign that the sender is up to no good.

4. Install the latest anti-virus software, anti-spyware and firewalls on your computer before shopping online. And keep them up-to-date with the latest patches. (Note: Buy these from a reputable software security vendor, not from an unknown security company; otherwise you may get infected with the malware you’re trying to prevent!) Visit OnGuardOnline.gov or staysafeonline.info to learn more about security software, firewalls and other ways to secure your computer. To sign up for free cyber alerts and tips from the Department of Homeland Security visit: US-CERT.gov.

5. Practice safe behavior when it comes to your email. If it looks weird, or comes from an unknown person, don’t open it. Even opening what you think is an email from a friend or relative could unleash a virus or a Trojan onto your PC.

6. Make sure the company is on a secure server by noting whether the Web address starts with "https." Check for a padlock icon at the bottom of the browser. Click on the icon and you should see the site address. This address should match the Web site address at the top of the page. If they don't match, you may be at a fraudulent Web site.

7. During the holiday season (and year round) check your credit card and bank account transactions online. Don’t wait for the bill to come in the mail. A little bit of monitoring can stop unapproved use of your credit cards or criminals dipping into your bank accounts. It’s also a wise thing to check your credit reports on a regular basis for incorrect information that may be a sign of identity thieves at work.

8. Keep printouts of the Web page describing the item you ordered and the price you're paying, any e-mail messages, and the page that shows the seller's name, address and telephone number.

9. Never buy anything, no matter how good the advertised price is, from an unsolicited email (spam). When tempted to buy that replica watch because that’s exactly what your friend wants, just imagine that same item being sold from a cardboard box out of the car trunk by an unsavory looking individual. Also remember, buying from a spammer could cost much more than the price of that cool replica watch -- giving your credit card information to unknown entities over the web may place your identity in jeopardy.

10. Finally – Turn off the PC when you’re done shopping. With the proliferation of broadband Internet access, many users now leave their computers on ‘round the clock. This opens up the door for criminals who, once they’ve infected your PC, will turn it into their “robot” and commit cyber crime.

Subscribers to BankInfoSecurity.com can view this article at http://www.bankinfosecurity.com/articles.php?art_id=634

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