Sunday, January 17, 2010

No Privacy For Online Banking?

Link to Us: http://snipr.com/on9banking

In previous post "Protect Yourself When You Shop Online", it tells what kind of site is safe to use especially related to e-business and transaction and many online banking sites are secured and verified therefore, your private information would be protected. According to last Friday, 15th January 2010 newspaper, a woman loses RM1,900 from her online banking account.

The woman is known as Jenn, she said that during the early of December, she received an email from "the bank" stating that she had log in to the "the bank" online system with incorrect password. After that, she tried to log in with her correct password. On the same day, a total amount of RM1,900 was transferred to a third party via "the bank" online banking without her knowledge. She has reported to "the bank" headquarter and after their investigation, it showed there was no system failure
. Moreover, "the bank" said that they did not send any emails, sms or phone calls to request online banking account holder's personal information like password.

Lim Chia Ying, Woman loses RM1,900 from online bank account, The Star Online
Retrieved on 17th January 2010



Does online banking still safe to use?

I am user for three online banking sites and I use "that bank" online banking service too. Yes, the site has the verify sign, it is a secure site, and the URL starts with https://. So far, I have not encounter any problems. As an user of online banking, I have to be alert on what happen to the online banking site. I read all the announcements made by the bank through their online banking system. I know the bank will not send email, SMS or phone call to ask for my details because nowadays, people scam online banking users via anonymous email and so on. Even the particular email is stating that, it sent by the bank itself but the bank has declared in the earlier time as they would not send any of it therefore, I believe that the email is sent by third party and I would never reply or follow any instructions in the email.

Last, the online banking system would not reveal your personal information to third party or business purposes and they would not request any of your personal information via SMS, phone calls, and emails too. In my opinion, online banking is still safe to use, they protect your private data but users need to be more alert to scamming tricks and I believe that bank will tighten their online banking security. That is why I use online banking service frequently. Then, what about you?

2 comments:

Rachel Kok said...

For me, I still think its insecure to use online banking as we knew and read a lot of cases from the newspaper or receive emails which stated what happened to the victims themselves. After knowing this incident, I bet more and more people with take extra precautious towards this matter.

Cindy said...

Rachel, thanks for your comment.
Yes, online banking has it own risks. I received a phishing email from maybank.com, it is not authentic email from the bank and the bank would not send emails to users too. Then, I straight away delete the email because I know it is a phishing email. Even though, I would not stop using online banking service. I think, users should be more aware to phishing cases and other relevant issues to protect online privacy by themselves.

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