Use Protection: Online Banking Security & Identity Theft Prevention

In a paperless world, you might think identity theft would run rampant. But it?s really not that bad. With so many banks, credit card companies and stores going totally electronic, they?ve all taken steps to increase online security and help prevent identity theft.

At my bank ? Bank of America ? Online Banking security is taken very seriously. They?ve got tons of measures in place to help prevent identity theft and keep their customers? accounts protected and secure.

Online Banking Security: What They?re Doing About It

I know that not all banks are the same, but some of the things my bank is doing (and other banks are also trying to implement) to increase Online Banking security include things like:

? User authentication (which, frankly, Bank of America has always had, but with SiteKeyTM, they offer another layer of authentication) ? a very cool feature that?s a standard part of the Online Banking sign-in experience. At Bank of America, this Online Banking security measure includes an image, image title and three ?challenge? questions that only you will know the answers to. And best of all ? because this authentication process isn?t connected to your home computer ? you can log into your account securely ? from anywhere (just as its always been).
? Zero-liability for unauthorized charges1 ? a fantastic little piece of Online Banking security that offers a secondary level of protection. Bank of America will not hold you responsible for unauthorized internet transactions that start with its Online Banking services ? as long as you report them to your bank promptly.
? Secure transmissions ? a cool program you won?t necessarily see, but it does work behind the scenes of Online Banking to encrypt information and verify data integrity to help with identity theft prevention.

Frankly, any bank worth protecting your hard-earned cash will have programs protections like these in place. If they don?t ? don?t give them your money.

Identity Theft and Online Banking: Your Responsibilities

Of course, banks can only do so much for your security, so at some point you may also have to take additional steps for identity theft prevention and sign up for some of the great services they offer to you that can help prevent identity theft and make banking online a breeze.

Some of the ?convenience? services that many banks offer that can also help in identity theft prevention include:

? Turning off your paper statements (to help limit mail fraud)
? Checking your online statements2 regularly and viewing your cleared checks online
? Signing up for Direct Deposit
? Setting up e-mail alerts so you know exactly what?s happening with your account
? Keeping your PIN and other private access information private
? Ensuring that you have the latest virus protection on your computer

Of course, thieves are getting more clever by the day, but so are the banks. They?re all developing new identity theft prevention tools and techniques every day. Just find a bank with an Online Banking security program you trust and join the paperless society. (It?s a safer one than the papered world).

If you?re really concerned about identity theft prevention, stop by your local police department or contact the Federal Trade Commission (www.ftc.gov) ? they?ve got lots of great ideas for keeping your identity safe both online and out there in the real world.

This article courtesy of  http://www.paper-hq.com.
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