Commentary

MILAM COUNTY T.R.I.A.D.

Most bank ‘robberies’ are now online
Ted Hubert
Hackers are people who break into computers. These individuals may work for good or evil.

The hacker who has the knowledge to manipulate computers, may be motivated to do so for personal gain, or for the challenge, or to find solutions to problems that exist or may in the future.

The liberties enjoyed in the United States of America promote the hacker’s disobedience to rules.

The good hackers discover future benefits for the cyberworld, however, these hackers are not feared in the business environment. The fears in having securities violated and harm done, are from the banking institutions to the music industry.

Hackers may unlock f iles, thought to be protected through encryption, and steal data for their criminal endeavors.

The general public has trust in the banking system. Honest people are running the banking institutions to protect their clients. Strict laws help to keep one honest when dealing with someone’s money other than your own.

Online banking is the way of the future. Paperless transactions are here now and society will demand that speedy transactions should replace the slower, more expensive methods.

Merchandise in the old days was purchased through the barter system. Money replaced the method of exchanging goods until the paper checks were introduced.

Paper checks have less use since the convenience of credit cards allowed its owners a greater spending power. There is no need to carry large sums of money or to write checks to purchase.

Just take the credit card and swipe it through, sign your name, and be on your way. Purchasing personal checks has been limited.

Today internet banking uses electronic checks and provides records of the transactions.

The United Kingdom will no longer clear paper checks after Oct. 31, 2018. The United States will surely follow suit, one would think.

Hackers can and will steal money now and in the future. Any time you go online some hacker may be working to find as much personal information about you as they can.

The Internet Crime Complaint Center reported that $559 million was stolen from Americans in 2009. This number is more than twice that reported in 2008 ($268 million).

Sean Sullivan, a security adviser at F-secure, an Internet security firm says “Last year there were more online bank robberies than were actual on-site bank robberies.”

There are ways to better protect yourself from financial harm. Change your password from time to time. Do not use the same password for many of your accounts.

The more passwords you are asked to provide to log in to your account, the safer is your bank’s website.

Be patient with the banks that ask you to create a username, a site key name and use personalized pictures or symbols that appear during the login process.

Banks w ill also ask you to answer security questions that are unique to you before gaining access to their account.

Banking Trojans are a big threat to people banking online. This spy ware uses malicious codes created and designed for banking fraud.

These are not easily noted and they can steal passwords and multiple types of data. According to Sullivan “Some more advanced types of Trojans can make fraudulent transfers and drain your account while you are logged on to the account online.”

You are protected, if you report online theft quickly. This makes it necessary to check your bank statement carefully and frequently

If you find that you have been victimized, contact your bank and report your concerns. The Electronic Funds Transfer Act (EFTA) limits online theft to $50 provided the loss is reported within 60 days after the transaction is found on the bank statement.

Go to www.fdic.gov for more information on the EFTA.

tedh@alpha1.net


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2010-11-04 digital edition



The burn ban for Milam County has been lifted. Burning is always prohibited in the county's municipalities.


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