14 Dec 2011

Users should protect online money

Online banking users need to be aware of their online surroundings at all times. One wrong move can mean hundreds or even thousands of dollars stolen. U.S. News & World Report suggests online banking customers use antivirus software and other precautions to stay safe online.

John Quain writes on the website that users should also always be suspicious of emails claiming to be from their bank, as there are many scammers who will use this to get private information about an account. He said a complex password could be one of the best measures of internet security.

"The weakest link in the security chain may be your password," Quain writes. "There are programs that scan Facebook accounts, for example, looking for personal information that can then be used to guess passwords. So don't use pet names, birthdays, or favorite foods. Use a password that's a combination of letters and symbols, as well as uppercase and lowercase characters."

Bank of America, like many other banks, say they have $0 liability protection for fraudulent activity. While this may be true, users should still take responsibility for their own online banking and use common-sense internet security methods.