Security Featured Article

Though it’s too soon to know just how the credit crisis ultimately will turn out for those with investments, mortgages and savings, the increase in banking activity that began a few weeks ago is raising concerns among those focused on an increasingly popular option for citizens that deal with banks: online security.

 

“While recent events may have led to more online activity, any time there is an increase in activity, people need to be more aware of the potential risks and to use every precaution available to secure their personal data, including their financial information,” Marty Algire, vice president of products at Radialpoint – a Montreal-based provider of value-added service solutions for Internet service providers – told TMCnet in an interview.

 

The Federal Reserve today provided new details about what the short-term loans it’s going to make available to “squeezed” banks through auctions, according to The Associated Press – a move that’s expected to cost billions. The Fed said earlier this week that it would provide as much as $900 billion in short-term loans – up to about three months – to stressed banks, the wire service’s Jeannine Aversa reported.

 

It’s too early to draw any final correlations between the economic situation and online security threats, Algire said.

 

However, he said, “If you are conducting activities online, you need to be sure to do so safely. Internet threats continue to evolve and become increasingly sophisticated, and, regardless of economic environments, consumers need be aware of their online activities and take the proper steps to protect themselves.”

 

According to a new survey, 61 percent of U.S. citizens say they have security concerns when it comes to online banking, though three-quarters of them say they still would continue using the Web for banking transactions.

 

The survey, commissioned and released this week by Radialpoint, was conducted by Internet research firm iTracks, and includes a sampling of 1,500 respondents.

 

As more and more people use the Web for chores such as banking and shopping – and even socializing, with sites such as Facebook (News - Alert), LinkedIn and Twitter – the threats of fraud rise, experts say.

 

According to the survey, 53 percent of Americans are concerned about security threats when using social networking sites such as those listed above. Yet 64 percent say viruses or easy access to their personal information don’t deter them from using the popular sites.

 

That’s a concerning revelation, given constantly evolving and increasingly sophisticated online security threats, according to Hamnett Hill, Radialpoint’s chief executive officer.

 

“This is an ideal time for home computer users to start being mindful of their online activities and begin taking the appropriate steps to secure their systems, rather than continue turning a blind eye to potential online threats,” Hill said.

 

Radialpoint offers a so-called “all-in-one” security solution that includes five anti-threat measures, such as anti-virus, anti-spyware, Internet firewall, anti-adware and fraud protection.

 

“The survey revealed that the majority of respondents had one or more of these software solutions installed on their PCs, but that only 43 percent of respondents had all five installed, indicating 57 percent of American’s are not optimally protected from online security threats,” Radialpoint officials say.