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Becoming a Registered Nurse
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Tuesday, April 27, 2010
Online Banking Concerns
With banking made available online and through mobile devices many people have started to veer away from traditional banking methods. With this new easier more convenient method there comes a price and that is the concern over the safety of online transactions. There have been businesses and individuals who have suffered the consequences of unauthorized transfers, some of these transactions resulting from the theft of passwords and pin numbers and account information. Many wonder if online banking is a safer way to go when dealing with their own private funds. In order to instill a trust in the online banking system many banks make information available on the methods used to protect this vital information readily available. Identification and Authentication, Encrytions, and Firewalls are used as safety procautions which many people entrust with their information.
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Online banking comes with it's concerns. However, traditional banking methods also had it's concerns. People could steal your check or deposit form and get your checking account number. I'm not sure which method makes it easier to steal information, but both methods have to have people take precautions. Since online banking is used by more people, perhaps the government could offer more protection to make users more comfortable. Also if people's information is stolen, laws should be passed to make it easier for people to clean their records. Furthermore,tougher sentences should be enacted for the thieves who commit these acts.
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