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.