One kind of Internet banking threats that is becoming popular these days is what we call phishing emails or simply phishing. It is a real threat to the security of all people using online banking.
What is Phishing?
Phishing is an act of stealing personal and financial data of an individual through emails with a purpose of monetary gain and identity fraud. Normally, phishing emails are coming from an unknown company or organization requesting the victim to reply to them with their private information like name, contact numbers, address and bank account number.
Basically, this type of online scam is somewhat similar to normal “fishing” activity. Let’s look at the similarities. First, in fishing, you must have a fishing rod or net in order for you to catch fish. Without it, it is impossible to get fish from the water.
Similarly with phishing, there is also a “fishing rod” that Internet criminals and hackers are using to advance their evil motives. They commonly use emails because it is widely used by many people around the world.
Through emails, they can send messages to their prospect victims planning to steal their identity and financial information. Phishing emails has embedded website link when click by the victim will go to a bogus Internet banking site very similar to the authentic one.
After the victim, without knowing that it is a bogus site, supplied all required information about his or her bank details, the data will be stolen by the suspects. They will use it to access the victim’s account, withdraw money from their bank account or create a new identification card using the victim’s personal information.
When they became successful in getting the victim’s data, an identity theft will be occurred. Most of the time, these criminals will use the information they gathered to apply for loans, credit cards or just withdraw money from the bank account of their victims.
It is really a unwanted scenario for all people because you don’t want other people to use your name in applying for credit cards or loans. It’s a total disaster. That is why it is very important to guard your financial information when using your online banking account or any online accounts you have.
Another similarity of phishing with “fishing” is both use a bait to get their victim. Normally, a bait in phishing is the promise of monetary benefits like winning a lottery or prizes you didn’t join at all.
When you received this kind of email, it’s 100% sure that it comes from criminals so beware and take necessary actions. Do not be enticed with the money that you will get, it’s all fake.
How to Avoid Becoming a Victim
Phishing is a serious problem of all banks and online account owners around the world. Every year there’s an increasing number of identity theft victims because of phishing and other Internet threats.
It is very important to protect your identity and account while online to prevent this crime and online banking fraud. You should be aware how this activity is happened so you will not fall as a victim.
Don’t click any link from unknown email. Make sure that your email provider has a spam rejection feature so that all unknown emails will be transferred automatically to that folder.
I used Gmail for my emails. It automatically filters spam emails which are also phishing mails.
In addition, don’t be deceived by emails promising a monetary gift or reward, winning a lottery or giving you a brand new car. Don’t be greedy, it is definitely a phishing email.
Do you know any countermeasures to avoid becoming a victim of phishing? It is a great help to other people if you could share your knowledge.