Self protection

There are 2 main frauds to look out for:

Social engineering scams
You’re the the weakest link in most security setups. So these types of scams use confidence trickery to get information out of you without time-consuming attacks on your computer software. This kind of scam is also known as “phishing” because scammers are fishing for your banking or identity details.

They work by sending you an email from your bank that looks legitimate. You’re asked to provide personal details for plausible reasons such as security upgrades, providing a refund, or even protection from fraud. The email will usually contain a link to a site which closely resembles your bank's genuine website (and there are reports in Australia of sophisticated scammers directing victims to automated “call centres” to allay their suspicions).

Key-logging
This is when the scammer installs a program into your computer to record or “log” every key you type. It then sends these records (passwords and credit card numbers) to the person who installed it. Key-logging programs are insidious and can lurk inside all sorts of downloads – such as e-greeting cards from less reputable sources and links in dodgy emails.

Tip: If you are worried that you may have fallen prey to a scam, don't hesitate to notify your bank immediately. It may be able to assist you, or even prevent the damage.

How can you protect yourself from these attacks?

• The Golden Rule: Never give anyone your password or your PIN. Your bank may contact you but it will never ask for these details. Anyone who does is a scammer.
• Install a security program on your computer and keep it updated. Without it, your computer will be fair game to e-criminals.
• Change your passwords regularly and make sure they are hard to guess by including numbers as well as letters. Also try to use different passwords for different sites.
• Look for warning signs within an email – are there spelling mistakes? Is the name of your bank spelt slightly differently from usual?
• Call your bank first, even if you think the communication is legit. It never hurts to check with a real person at the bank.
• Don't click on email links – if you want to look at your bank's website, always type it into your browser. That way you can be certain you’re going to the right place.
• Be wary of opening links in any email – and particularly links that end in .exe (they’ll install a program on your computer). Make sure you know a link is trustworthy before you open it. Also check you have a secure connection whenever you do a financial transaction: it’ll always have “https” at the start.
• Don’t do your banking on public computers such as those in internet cafes or libraries – they may be infected with key-loggers.