Data Privacy To Protect Against Bank Fraud

Today is Data Privacy Day 2009.  On January 28, the United States, Canada, and 27 European countries celebrate Data Privacy Day together for only the second time. The Office of the Privacy Commissioner to show its support for Data Privacy Day offers The Top 10 Ways Your Privacy is Threatened.

The Fraud Prevention Tips e-mail newsletter for January from the Canadian Bankers Association came out this week.  Data Privacy is a big part of that message too. The Newsletter provides a useful reminder of the constant vigilance we all need to exercise in our financial affairs.  If you do not receive the Newsletter, you might wish to sign on.

It’s not difficult to find information on what you need to do to avoid such bank fraud attempts.   For example, the State of Illinois has a short and useful checklist on how to Protect yourself against bank fraud.

The website for the Canadian Bankers Association is another useful resource with a wealth of information on how you can protect yourself against bank fraud.  The website covers many of the issues you need to be concerned about:

• Credit Card Fraud
• Debit Card Fraud
• Identity Theft
• E-mail Fraud/Phishing
• Vishing
• Staying Safe at the ABM
• Real Estate Fraud
• Avoiding Counterfeit Bills
• Protecting Your Personal Information
• Stay Safe Online

Did you recognize all of those?  What about vishing?  Apparently it is a word that has been around some time since an FBI webpage on vishing dates back to the early 2007. 

Here is a short description of Vishing.

Vishing stands for “voice phishing” and is a new twist on the phishing e-mails that you may have received, but now the criminals are using the phone as well to trick consumers into revealing personal information.

Vishers will send out an e-mail to thousands of people which looks like it is from a reputable organization, such as a credit card company, online retailer, bank or government agency. The e-mail may warn of a security alert and ask you to call a local or toll-free number where an automated attendant will ask you to punch in personal information, such as your credit card number, social insurance number or online banking password. After you do that you may be disconnected without speaking to anyone, but the criminals will have your information.

Perhaps you would not fall for a vishing telephone call, but you should make sure that you have checked out all the other ways someone might be trying to catch you out with some type of bank fraud.  Given the current state of the economy, such schemes are even more prevalent.  So watch your Data Privacy not only today but throughout the year.

Footnote: If you are interested in books on Banking, then why not visit the Banks section of the Money Bookstore.

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