Internet has become very common amongst people. With more and more cyber cafes and kiosks coming up access to the World Wide Web has become a lot easier. Internet has made many things convenient and easy. Added to this series is the internet banking or e-banking facility. Internet banking refers to the use of internet for delivering banking products and services to customers.
Internet banking has brought many changes in the banking industry. Banking now no more confines itself to branches. Internet banking processes any enquiry or transaction without intimating the bank every time. This enables one to bank beyond banking hours and one can access his bank account comfortably sitting at home. Money transfer between accounts, payment of money in and out, loan application or applying for a new debit/credit card are just some of the features of Internet banking.
Thus the advantages of Internet banking seem to be many. But the increasing number of internet scams and frauds put a big question mark on the authenticity of Internet banking being a secure mode of banking.
The most actively featured form of Internet scam is a phishing scam in which the attackers use false e-mails and websites so that customers get allured to the fraudulent website and enter their financial information like bank account information, passwords, credit card number etc. The online criminals have become so sophisticated that they end up creating crafty websites and emails that are hard to detect.