1. Do not have any of your bills sent to your home. Always list your post office box as your mailing address. An even better solution is to pay your bills online—but do it safely. (more…)
May 23, 2009
Save your identity, have Credit Report
A credit report holds the most personal and vital information anyone can have. The information contained in the report influences crucial decisions on loans, insurance coverage, employment—even housing. (more…)
September 26, 2008
July 19, 2008
Credit Card Fraud, do not be Naive about where Credit Card Details are Stolen
Your credit card can be your best friend, So take care of it like you would that friend. Remember that credit card fraud is rife and do not be naive about where credit card details are stolen. Many people are paranoid about using credit cards on the Internet and immediately assume that online buy-sites must be where The Bad Guys obtain credit card details from. (more…)
July 13, 2008
Completely Anonymous Electronic Payments?
Normally, when I go shopping and I use my bank cards, then several days later, my mail box will be filled with different kinds of flyers which may directly or indirectly related to the shops where I visited previously. So it is hard to avoid personal info exposure risk while using my bank cards. Can we really make completely Anonymous Electronic Payments? (more…)
July 9, 2008
Documentation Checklist on Electronic Banking, get rid of Hackers
1 What does the contract cover? — Does it only cover the services to used, or does it extend to all the electronic banking services provided by the bank? Delete the references to unused services, and review the agreement whenever a new service is to be used.
2 UCC4A — Will UCC4A be involved and, if so, how does it affect the rest of the agreement? (see UCC4A on my other post)
3 Equal treatment — Where appropriate, ensure that there is equal treatment in the agreement for the customer and the bank.
4 Consequential liability — Resist documentation which excludes the bank from consequential liability and/or strongly resist any attempt to make the customer liable for any of the bank’s consequential losses.
5 Bank liability — Will bank accept liability for fraud, errors and negligence by its own staff?
6 Insurance — What kind of insurance cover exists? Fidelity cover to protect against theft and fraud by the customer’s own staff is essential.
Insurance against external computer fraud is expensive because of the potential amounts involved. The customer needs to assess carefully the true risk compared with the premium requested.
July 2, 2008
Electronic money, Digital money, Virtual money, which money we spent mostly? Dematerialized Monies
I am used to Electronic money, Digital money. I mean my internet banking, bank cards. I keep some pennies in my pocket only for tips, rail and bus. I remembered one time I was in traveling, I can’t pay my tips at the airport, I felt so embarrassed.
There are several forms of dematerialized currencies appeared in the 80s bolstered by the increased use of prepaid cards, such as telephone cards. Three types of emerging monies, all of which are dematerialized, will be discussed: electronic money, virtual money, and digital money.
Electronic Money
Electronic money can be a monetary value measured in fiduciary units that is stored in an electronic device owned or available to the consumer. It is thus a movable scriptural means of payment that carries the values in units of payment in an electronic store. This corresponds to a binary form of scriptural money, stored on portable support such as a smart card. The scriptural character of the electronic money is related to the status of the issuer (since it is not issued by the central bank) and to the traceability of the transactions and the movement of money. (more…)
June 18, 2008
Specific Points of Concern of Electronic Banking
Specific issues which do come up regularly are as follows. Imagine how many of us do ignore of this, I do. I do concern none of them, I am happy with the convenience I get. Never bothering with fundamental structures, for our safety concern, please learn…
The authenticity of the payment instruction
Most electronic funds transfer (EFT) documentation incorporates a clause which states that ‘the bank will treat as valid any message or instruction which purports to come from the customer‘, or that `the bank assumes no responsibility for the unauthorized use of the customer’s password’. As mentioned earlier, this reverses previous banking practice which places the responsibility for the detection of forgery or fraud on the bank. Is there anything that the corporate customer can do to oppose the banks on an issue about which all of them have remained intransigent? As this point has already been conceded by most major corporations, it is difficult to foresee any reversal by the banks in the face of objections by medium-size and small companies which have less individual influence on their banks. (more…)
How much do you know with Electronic Banking
Again, I am doing my banking security study recently. Anyway, I like to share some info I knew.This is from Brian.
When electronic banking was being introduced into the UK by the US banks, separate documentation for the use of those services was fairly straightforward — in some cases nonexistent, and in others very simple, covering one or two pages. The treasurers who were offered such contracts, after referring them to their own lawyers, signed them quickly, and since then have resisted attempts by their banks to replace them with anything more detailed. (more…)
