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Phishing A Major Problem In Transaction ProcessingPhishing is the malicious attempt to acquire a person's sensitive, pertinent, and private information such as, but not limited to, credit card numbers and passwords. Phishing is considered to be an illicit activity and anyone caught doing it is punishable by law.Phishing scams are rampant over the Internet. In fact, it can be executed with the simple use of an instant message, an email, or both. To do it, a company or an individual sends out mass messages or multiple emails asking for the customer's credit card details for sales confirmation or for something else similar to that. And once the unsuspecting victim bites into the bait, he could then expect his credit card transactions to pile up in the next billing period. This incidence is usually termed as the identity theft phishing. How Does Phishing Works?Online stores and e-commerce websites are most prone to phishing. Unscrupulous people could have inserted some web programming into their websites so as to extract customer's data. The customers, on the other hand, being unsuspicious about what's going on, continue shopping until they reach the checkout process wherein they are to give their credit card details.There are also sites that masquerade themselves as banks sites and financial institutions. With their websites looking very professional and credible, customers feel more than comfortable to input their personal information - only to find out later that they were cheated and those are not the official website of their trusted bank and are not even related to them in any way. It is then important that proper precaution is practiced at all times when making financial transactions over the Internet. If every client, shopper, and banker does this, then all phishing attempts won't be this extensive. What is phishing if corrupt people aren't getting successful with it? It would then be just a thing of the past and one major hurdle that the Internet community had beaten. Continue to: Why is Paypal an easy target for phishing Related ArticlesWhat Is A Credit Card Merchant Account And How To Open One?What Is Paypal And Is It Safe To Use Paypal To Accept Payments? What Is An Electronic Payment And Which Are The Services Other Than Paypal That Allows You To Accept Electronic Money? What is ACH or Automated Clearing House? What Are Turnkey Ecommerce Solutions And What Do They Comprise of? Ways Of Tackling The Phishing Threat In Transaction Processing |
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