Online Banking
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How Dangerous Is It?
No doubt about it; online banking has a powerful appeal. It is faster, and far more convenient than traditional (offline) banking. With online banking, a click is all you need to carry out often complex and otherwise impossible financial transactions globally. As the online banking industry continues its phenomenal pace of growth worldwide, you need to be aware of the inherent dangers of banking online. This knowledge could save you or your business hundreds of dollars, or more.
Phishing
One common danger to which end users of online banking services are exposed is phishing. Many unwary individuals have been phishing victims. This is where online criminals capture users’ authentication details, including credit card information, and logins. By means of fraudulent emails supposedly from their financial institutions, unsuspecting individuals are lured into revealing authentication details, which are then used to drain their accounts. It is estimated that between 2004 and 2005, more than one million people were victims of phishing.
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Foreign Exchange Trading – The Facts
The foreign exchange market, also referred to as Forex, FX, or currency market, is where banks and other large institutions facilitate the buying and selling of foreign currencies.
The foreign exchange market has become popular in Jamaica and the Caribbean only in the last five years, and especially so with the failure of some unregulated schemes, some said to be involved in the market. As a consequence, there are many uninformed opinions about what it is, how it is done, and its relative merits. Here are some facts, which can inform your own decisions regarding FX.
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