What you should know about online shopping when it comes to personal finance
Everyday there is new technology being developed to help protect your privacy while you surf and shop online, but right now there are some things you can do to protect your personal finance information which include:
- When a web site asks that you register or provide personal information, look for a privacy policy. Take a few minutes to carefully read this policy. Most websites that are ethical will put a link to their privacy policy right on the home page. A privacy policy that is credible should be easy to find and easy to understand. It should tell you the exact information the web site collects and what the information is used for. The policy should also state if the web site shares information with anyone else and should give you the option of restricting your information from being shared. The privacy policy should also state what type of security is used to protect your personal information. If you are unable to find a privacy policy, contact the web site and ask them to post one.
- Look for a privacy seal. This type of seal lets consumers know that the web site is abiding by their posted privacy policy. If you are unable to locate a privacy seal, contact the web site and ask that they post one.
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- Never give out your password to anyone. Often times hackers and scammers will try to entice you to give them your password through a number of tricks. Be cautious and use good judgment. Change your passwords periodically. And above all, under no circumstances give your password to anyone.
- Use a secure browser such as Secure Sockets Layer (SSL). A secure browser is one that complies with an industry security standard. It encrypts and scrambles purchase information to help keep your personal finance information safe.
- When you are shopping online, always print out a copy of your purchase order and confirmation number for your records.
To help keep your personal finance information safe you should shop at sites that have proper methods of security such as Electronic Transfer Transaction or Secure Socket Layer. Microsoft Internet Explorer and Netscape Navigator both can hook into these standards.
- Secure Electronic Transfer Transaction also known as SET, operates by using encryption to keep you credit card information safe while it is traveling over the web. To ensure your identity and the merchants identity, SET also uses digital signatures. One advantage SET has to offer is that your credit card number is not stored in the merchant's browser.
- Secure Socket Layer also know as SSL, operates by creating a secure connection for transmitting documents and information over the internet. Information like credit card and bank account numbers along with other personal financial information. SSL is fast and easy for web sites to set up.
There are several tools available for protecting privacy. Some of these tools include:
- The Anonymizer. This is one of the oldest and best know products that allow you to surf the internet anonymously. The Anonymizer also offers anonymous email and net access. Visit www.anonymizer.com for more information.
- Crowds. This was developed by Bell Labs and AT&T Laboratories. Crowds operates by using a virtual "crowd" of people to hide your identity while surfing on the web. For additional information on Crowds go to www.research.att.com/projects/crowds.
There are also products being offered that help protect your privacy such as DigitalMe. This software product stores your personal information and uses it to automatically fill out web site forms. This product will allow you to review the information before it is submitted and will also keep track of your user name and passwords used from site to site.
