Gone are the days when consumers only had one option to pay their bills. Back then, we had to commute, drive, or walk to the local bank. We no longer have to wait several hours just to deposit, withdraw, pay, open new accounts, or apply for loans. Because of modernized technology, we busy consumers can now do all these online, with the help of online banking. With just a steady Internet connection and a ready computer, you could now do anything with your online bank.

Online banks have many clients because of the convenience and the speed of transactions. Consumers could easily access their accounts from anywhere in the world with just a few clicks. However, as the use of online banking becomes more the norm, scammers become more creative in their tactics. Online banking has now become a shiny target for credit card scammers worldwide. This prompts consumers to acquire credit protection services to prevent credit card fraud.

Will credit monitoring really prevent fraud? Yes, but it is only part of the plan to ward off scams. We as consumers must also be vigilant enough to protect our accounts.

Attacks by Credit Scammers

The following are some of the common methods used by credit scammers, when they set out to attack your accounts:

1. Pharming
   Here, a bank's URL is hijacked by hackers. You are immediately redirected to the fake site once you access your bank's site.
   
2. Phishing attack
   This involves sending you a link to an imitation page of your bank. The account details that you enter in the fake page will be sent to the scammers. They will then have all the information they need to access your account and steal your money.
   
3. Keylogging
   This attack is common in public Wi-Fi or Internet sites. Through this method, the hackers could record your keystrokes, enabling them to access your accounts.
   
4. Identity theft
   Hackers could also get a hold of any identifying information that you have. From there, they could access your accounts easily or create brand new accounts in your name.

Tips for Safe Online Banking

It's true that credit card fraud takes place in online banking on a daily basis. Because of these fraudulent activities taking place, online banks have to always improve their systems. It's their way of fighting back these scammers.

In turn, consumers should participate in making their online banking experience a lot safer. Here are some of the tips for safe banking online:

1. Familiarize yourself with your bank's security
   Your bank should encrypt your sensitive information. When you log in to your bank's online system, look for the padlock icon in your Web browser so you know that you are on a secure online transaction. Passwords and PIN numbers should work well, with no glitches.
   
2. Be careful with what you share
   Never send your personal or financial information via email even when the other party is a friend or a loved one. You'll never know who might be keeping an eye on your emails or private messages in social networks.
   
3. Always check your statements online
   Developing this habit will help you keep track of your account. It will also help you detect any errors that are signs of credit scams in progress.
   
4. Be strict with passwords
   You should use strong passwords that are made up of letters and numbers. Never stick to passwords that are easy-to-guess. Change your passwords on a regular basis.
   
5. Store or shred you financial mail
   If your bank sends you mail, make sure you place it in a very secure place. When you're finished with it, shred it before throwing it away. This way, credit scammers won't pull it out from your trash.
   
   Credit scams can be prevented if you're careful about your online account details. Take the provided tips into consideration so that you may always have a safe online banking experience.