Online banking is missing the visual cues people are accustomed to when visiting their bank in the real world. They drive to their bank, go to a teller or an ATM, and conduct their business. Online, fraudsters can easily impersonate a bank—it is virtually free to send an email, set up a fake Web site, and collect personal information from unsuspecting victims.
Consumers must use different means to help make sure the financial institution is legitimate and it's safe to transact:
- Banks should not solicit you for passwords, account numbers, or other personal information—if you get an email like this, call them using the number on your statement or credit card, not the one in the email.
- Access the online banking Web site by typing the URL into the address bar, rather than clicking links you might see in an email in an instant message, or on another Web site.
- Always check for the browser "lock" icon, but understand that this only signifies a secure communication channel, not necessarily a legitimate Web site.
- Check for anything that looks unfamiliar, unprofessional, or out of place to you.
- If you're dealing with an Internet bank or unfamiliar institution, Check the FDIC database to make sure a bank is insured.
Never respond to an email, instant message, or phone call asking you to go to a Web site to resolve an account problem. This is called "phishing," a form of identity theft that depends entirely upon the victim's cooperation. These requests are NEVER legitimate.
