Credit Card debts:Causes and Prevention

Credit card debt is an example of unsecured consumer debt. Credit card debt is a problem that can permeate all of your life and that of your family. There are several causes of credit card debts.

First, credit card interest rates are high, therefore the profits can be high. Banks and other credit card issuers are after their slice of that big money, including from you. They can therefore justify big marketing budgets to get your money.

Second, it is very easy to get credit cards, multiple credit cards in fact. Issuers of credit cards make it easy for you, if you have had no debt problems in the past.

Third, your friends, neighbours and work colleagues will probably all have multiple credit cards, talk about them and flash them around from time to time. This will influence your own attitude to credit card debt.

Fourth,you see other people buy new furniture, go on exotic vacations, or go out to expensive restaurants all the time. Even if you never know if they are doing so on credit card, you may want the same. But you do not have the immediate cash, so what do you do? Jump on the credit card train? That is what your society may be pushing you towards.

Fifth, it may be due to poor money management. Without monthly spending plan, you may be spending hundreds of dollars unnecessarily each month and end up having to charge purchases on which you should have spent that money.

As credit card spirals at a society level, it brings with it stress, relationship and other problems. Often, those whose debt is out of control, are afraid to face up to the reality, at least initially, or do not know how to face up to reality.So, how to overcome this problem?Here are a few ideas to help you in preventing the credit card debt problem.

First,set up a budget and stick to it. Be realistic about your expenses and your financial needs, then draw up a detailed monthly plan.

Second, remind yourself every day that you are only going to use your credit card when you have no cash on you, as a convenience, and you will repay it before interest starts to accrue.

Third, never, ever feel you have to buy something just because a neighbour or friend has been boasting about theirs. Envy and jealousy are viruses that minimize your individuality, and can, in this case, damage your finances.

Fourth, limit the number of cards that you have. If your cards offer low interest balance transfers, transfer the balances from your other cards onto the card with the lowest rate.

In conclusion, with the right tools and management, credit card debt doesn't have to follow you forever.

Reference:
http://www.eliminate-credit-card-debt-now.com/EliminateCreditCardDebt.htm

The application of 3rd party certification programme in Malaysia.

VeriSign, Inc is an American company based in Mountain View, California that operates a diverse array of network infrastructure, including two of the Internet's thirteen root name servers, the generic top-level domains for .com and .net, one of the largest SS7 signaling networks in North America, and the RFID directory for EPC Global. VeriSign also provides a variety of security and telecom services ranging from digital certificates, payments processing, and managed firewalls to mobile call roaming, toll-free call database queries and downloadable digital content for mobile devices. The company groups all of these functions under the banner of 'intelligent infrastructure' services.

VeriSign is the leading Secure Sockets Layer (SSL) Certificate Authority enabling secure e-commerce, communications, and interactions for Web sites, intranets, and extranets.

Secure Sockets Layer (SSL) technology protects your Web site and makes it easy for your Web site visitors to trust you in three essential ways:

An SSL Certificate enables encryption of sensitive information during online transactions.
Each SSL Certificate contains unique, authenticated information about the certificate owner.
A Certificate Authority verifies the identity of the certificate owner when it is issued.

You need SSL if….
-you have an online store or accept online orders and credit cards
-you offer a login or sign in on your site
-you process sensitive data such as address, birth date, license, or ID numbers
-you need to comply with privacy and security requirements
-you value privacy and expect others to trust you

When we send mail through the postal system in a clear envelope, anyone with access to it can see the data. If it looks valuable, they might take it or change it. An SSL Certificate establishes a private communication channel enabling encryption of the data during transmission. Encryption scrambles the data, essentially creating an envelope for message privacy.

Each SSL Certificate consists of a public key and a private key. The public key is used to encrypt information and the private key is used to decipher it. When a Web browser points to a secured domain, a Secure Sockets Layer handshake authenticates the server (Web site) and the client (Web browser). An encryption method is established with a unique session key and secure transmission can begin. True 128-bit SSL Certificates enable every site visitor to experience the strongest SSL encryption available to them.

For example, like a passport or a driver’s license, an SSL Certificate is issued by a trusted source, known as the Certificate Authority (CA). Many CAs simply verify the domain name and issue the certificate. VeriSign verifies the existence of your business, the ownership of your domain name, and your authority to apply for the certificate, a higher standard of authentication.

VeriSign Extended Validation (EV) SSL Certificates meet the highest standard in the Internet security industry for Web site authentication as required by CA/Browser Forum. EV SSL Certificates give high-security Web browsers information to clearly display a Web site’s organizational identity. The high-security Web browser’s address bar turns green and reveals the name of the organization that owns the SSL Certificate and the SSL Certificate Authority that issued it. Because VeriSign is the most recognized name in online security, VeriSign SSL Certificates with Extended Validation will give Web site visitors an easy and reliable way to establish trust online

Maybank2u.com is Web Trust certified. This certifies our compliance with leading international security standards and Best Practices, as well as our commitment to maintaining a secure environment. Web Trust is an independent corporation that monitors and tests our facilities to assure that we maintain the highest and most current standards in Internet information security and exchange.

Can its implementation helps to improve customers trust?

Benefits of Posting the VeriSign Secured Seal are it is more recognized than any other trust mark, 79% of U.S. online shoppers that are familiar with the VeriSign Secured Seal .It shows visitors that the site is secured using industry leading SSL technology. Besides that, there is lower shopping cart and other transaction abandonment. It uses to associate your brand with the trusted VeriSign brand and it is use to Increase visitor-to-sales conversions.

Once you’ve installed the VeriSign Secured Seal, educate your users about what it means, the implementation of this system helps to improve customer trust indirectly.

All user needs to have the detail knowledge on how the Third Party certification works.

How safe is your data?-( the treat of online security)

Close your eyes, imagine that you switching off your computer at night but waking up to find an error message popped up on your computer screen, followed by innumerable important files become corrupted (especially those files where one documenting their emails containing usernames and passwords). How secure is the data in our computer, merely just by allowing it to access the Internet?

How its work?
At first, spammers typed their seedy solicitations into e-mail messages, then displayed them as harder-to-detect graphics. Next came attachments of PDF and Word documents. Now, researchers say, junk-mail purveyors are attaching MP3 files to their missives so users who open them get audio messages about penny stocks, for example. More chatty spam is probably on the way, and it’s likely only a matter of time before video spam invades in-boxes too.

That all for you data, bye bye.

One of the more insidious types of computer virus commandeers a user’s PC, gang pressing it into a network of “bots” that can spew spam, record users’ keystrokes to steal bank account numbers and passwords, or launch attacks against Web sites. Such botnets are getting bigger in size and harder to take down. Case in point: the “Storm Worm” virus that has infected tens of millions of machines this year.

Wait, wait, do you think this is the end? Here more…

Hackers Go Pro??!!
In the past few years, hackers have banded together and worked with organized crime to harvest the most valuable data exposed on the Internet. Next year could witness an even more complete merger between the computer and criminal undergrounds. Developers for hire and professional hacking kits are available through online markets. And criminals are on the lookout for intellectual property that resides on companies’ servers. In 2005 and 2006, hackers stole as many as 94 million credit- and debit-card numbers from the computers of retailer TJ Maxx (TJX). More efficient groups could make break-ins like that even more prevalent.

Ok, let conclude the TOP 10 of online treat...

10. Spam Mail

Spam by e-mail is a type of spam that involves sending identical or nearly identical messages to thousands (or millions) of recipients. Addresses of recipients are often harvested from Usenet postings or web pages, obtained from databases, or simply guessed by using common names and domains.
By definition, spam is sent without the permission of the recipients.

9.Phishing Mail

Phishing attacks use both social engineering and technical subterfuge to steal consumers' personal identity data and financial account credentials. Phishing messages pretend to be from eBay, PayPal, your bank, or the like. If you log in to their fake sites, they steal your username and password and you’re sunk. However, both IE7 and Firefox 2 have phishing detection built in.

8.Wireless Attact

These attacks attempt to penetrate a network by using wireless or evading WLAN access control measures, like AP MAC filters and 802.1X port access controls. If youre not careful, anybody in range can mooch bandwidth from your wireless network and can rum-mage through your files, because they are inside your network. Your routers WPA/WEP encryption can stop the mooching but you have to use it.

7.Hacker Attact

A hacker is a person who accesses computer files without authorisation, often destroying vast amounts of data. Expert hackers dont have times to attack each computers individually. They might broadcast a network virus or release a Trojan, but a personal attack is highly unlikely.

6.Web Exploits

Some Web sites include malicious code to exploit vulnerabilities in your browser or operating system. Just visiting the site can infect or damage your system if the vulnerability hasn’t been patched.

5.Adware

Simple adware pops up ads that get in your face while browsing net can destroy your computer. Most of the adwares records your online activity, phones numbers, contacts and produces ads for you when you go online.

4.Viruses

A computer virus is a dangerous computer program with the characteristic feature of being able to generate copies of itself, and thereby spreading. Additionally most computer viruses have a destructive payload that is activated under certain conditions.

3.Spyware/Trojans

Spyware spies on everything you do and steals private infor-mation. Trojan horse programs pretend to be useful but can turn your computer into a spam-spewing zombie.

2.Identity Theif

Its not just about your computer when they use your credit cards, divert your paycheck, and change your vehicle registration.

1.Social Enginnering
The number one threat to your computers security is you!

Use COMMON SENSE...don't take programs from strangers, don't go to crackz and torrents web sites, and if your security software pops up a warning, READ IT before you click.
If can't, here is another to prevent it, do not use internet.
ME?still need to face this treat, need to post my assignment. :p

Phishing: Examples and its prevention methods

Phishing is a type of deception designed to steal your valuable personal data, such as credit card numbers, passwords, account data, or other information. PayPal, eBay and online banks are common targets. Phishing is typically carried out by e-mail or instant messaging, and often directs users to enter details at a website, although phone contact has also been used.

Phishing E-mail
In brief, a 'phishing' email is one that pretends to be from a company or bank like eBay, PayPal, WAMU, Suntrust etc, and which asks you, (for various reasons), to enter your account data, such as login details. These scams are often supported by fake spoof websites, and victims are tricked into thinking they are logging to a real website. Phishing is a form of identity theft, where fraudsters steal your identity and personal information to gain access to your accounts or commit other crimes using your persona.
Examples:
a.) The following is an example of what a phishing scam e-mail message might look like.



b.) An example of a phishing e-mail, disguised as an official e-mail from a (fictional) bank. The sender is attempting to trick the recipient into revealing secure information by "confirming" it at the phisher's website.



c.) An example of a phishing e-mail targeted at PayPal users.




Phone Phishing
Not all phishing attacks require a fake website. Messages that claimed to be from a bank told users to dial a phone number regarding problems with their bank accounts. Once the phone number (owned by the phisher, and provided by a Voice over IP service) was dialed, prompts told users to enter their account numbers and PIN. Vishing (voice phishing) sometimes uses fake caller-ID data to give the appearance that calls come from a trusted organization.


Prevention Methods:
If you get an email or pop-up message that asks for personal or financial information, do not reply. And don't click on the link in the message, either. Legitimate companies don’t ask for this information via email. If you are concerned about your account, contact the organization mentioned in the email using a telephone number you know to be genuine, or open a new Internet browser session and type in the company’s correct Web address yourself. In any case, don’t cut and paste the link from the message into your Internet browser — phishers can make links look like they go to one place, but
that actually send you to a different site.

Area codes can mislead. Some scammers send an email that appears to be from a legitimate business and ask you to call a phone number to update your account or access a “refund.” Because they use Voice over Internet Protocol technology, the area code you call does not reflect where the scammers really are. If you need to reach an organization you do business with, call the number on your financial statements or on the back of your credit card. In any case, delete random emails that ask you to confirm or divulge your financial information.

Use anti-virus and anti-spyware software, as well as a firewall, and update them all regularly. Some phishing emails contain software that can harm your computer or track your activities on the Internet without your knowledge. Anti-virus software and a firewall can protect you from inadvertently accepting such unwanted files. Anti-virus software scans incoming communications for troublesome files. Look for antivirus software that recognizes current viruses as well as older ones; that can effectively reverse the damage; and that updates automatically. A firewall helps make you invisible on the Internet and blocks all communications from unauthorized sources. It’s especially important to run a firewall if you have a broadband connection. Operating systems (like Windows or Linux) or browsers (like Internet Explorer or Netscape) also may offer free software “patches” to close holes in the system that hackers or phishers could exploit.

Don't email personal or financial information. Email is not a secure method of transmitting personal information. If you initiate a transaction and want to provide your personal or financial information through an organization’s website, look for indicators that the site is secure, like a lock icon on the browser’s status bar or a URL for a website that begins “https:” (the “s” stands for “secure”). Unfortunately, no indicator is foolproof; some phishers have forged security icons.

Review credit card and bank account statements as soon as you receive them to check for unauthorized charges. If your statement is late by more than a couple of days, call your credit card company or bank to confirm your billing address and account balances.

Be cautious about opening any attachment or downloading any files from emails you receive, regardless of who sent them. These files can contain viruses or other software that can weaken your computer's security.

Latest Phishing News Headlines:
MillerSmiles cited in Vista book
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Anti-Phishing Browsers Not Working
Keylogging Website Trend
Facebook Phishing
Phishing Trend Continues
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Christmas phishing threats loom
Phishing - A Tougher Art
Google fixes security flaw
Phishing Protection in Office SP2
Yahoo! Hosting Phishing Sites

How to Safeguard our personal and financial data

From account information to personal data, the Internet has become an optimal place for criminals to get information. There are several ways to protect safeguard the personal and financial data when using the computer doing some transaction.

The Internet is not the only place that you need to be aware. In your daily transactions at the ATM, on the phone, shopping or in a restaurant, you need to know how to protect your information. Treat your personal and account information with great care, and avoid giving information easily to other people.

How can I protect myself from identity theft?

There are several step to prevent identity theft is awareness of how and when you use your personal information. By keeping close tabs on your personal information, you can reduce your chances of becoming an identity theft victim. Let’s start with credit cards and ATM:

• Create a strong password. When logging onto a secure site, choose a password that others can’t guess but is easy to remember. Use a combination of numbers and letters. For example, select a word you can remember but replace some of the letters with numbers, e.g., secret=s1cr1t. Avoid using family or pet names, birth dates, anniversaries or social security numbers.
• Memorize your Social Security number and passwords. Don’t record your password, personal identification number on papers you carry with you.
• Change your Password frequently for greater protection, we recommend at least every 72 days
• Never give personal or financial information over the phone or Internet unless you initiated the contact.
• Check your monthly credit card and bank statements for unusual activity. Request and check your credit report at least once a year for mistakes or fraudulent use. If you come across any suspicious activity on your accounts, contact your financial institution immediately.
• Do not download files sent to you by strangers or click on hyperlinks from people you don’t know.
• When you use your credit card online, make sure you are using a secure Web site. Look for a small key or lock symbol at the bottom right of your.
• Report lost or stolen checks, ATM cards, or Check Cards as soon as you discover they are missing.
• ATM, Check Card, and credit card receipts may bear your account numbers and should be securely destroyed or stored for your protection.

Online and Email Safety

• Do not share your login access codes for Online Services with any third party.
• Do not access your bank, brokerage or other financial services information at Internet cafes, or other public spaces.
• Never leave your computer unattended while using any online banking or investing services.
• Do not respond to emails appearing to be from your bank, government office or other entity that request personal information such as User IDs, Passwords, PINs, Social Security Number, etc.
• Do not open unexpected attachments from known or unknown sources.
• Avoid using an automatic login feature that saves your Password.
• Only submit personal information if you are on a secure Web site. Once logged in to a site, make sure the Web address starts with a "https" ("s" means it's a secure area). For added safety, check for a site certificate before submitting information on a secure page. Confirm the owner of the certificate by clicking on the padlock icon at the bottom of most browsers. You should see the owner listed as well as a URL. This URL should match the URL at the top of the page; if they do not match, you may be at a fraudulent Web site and should not enter sensitive data.

An example of an E-Commerce Failure and Its Causes

During the late 1990s and early into the year 2000, we witnessed the launch, rapid rise and sudden fall of a relatively new industry…e-commerce. With the widespread use of the Internet, exciting business to consumer (B2C) e-tail opportunities emerged. Sites began selling online directly to consumers, everything from books, to pet supplies, to clothing. This created a frenzy of companies trying to get online, to stake their claim, and to get a piece of the action.
However, have some of the businesses succeed and fail due to a number of different and complex factors. Such as pets.com, boo.com, streamline.com, garden.com and eToys.com as examples of the hundreds of dot com businesses that failed.

Each was a pure-play Internet business, existing only online with no bricks and mortar presence. These e commerce failures all occurred on a large scale, with the businesses burning through hundreds of millions of dollars in just a few years.

A common theory about dot com companies is that they were all being run by a bunch of “twenty-something’s” with no previous management experience. Example of eToy.com will failure in e-commerce because of the founder of eToys previously worked for the Walt Disney Corporation, but had no experience with the retail toy industry.

Generally management experience is considered to be one of the most important contributing factors to success or failure. Without previous experience, a business is more likely to fail. In the case of these online retailers, even though there was a wide range of experience among the leaders, it may have been the lack of specific industry knowledge that contributed to the failure.

Another cause of failure is competition environment. The eToy.com was competing with companies such as Toys R’ Us that had not only an online presence, but also the perceived stable infrastructure of bricks and mortar. EToys.com strategy to offer more diverse products conflicted with the strong “toy store” branding they had created.The price wars and high customer acquisition costs also caused problems for this e-tailer.

Some cause that eToy.com fail because of customer service and poor demand forecasting. For example, in the case for the 1999 Christmas season, it decided to use a third party, Fingerhut, to fulfill orders. EToys.com described the outcome as a disaster. Seeing the disappointment on a child's face only once was enough for a parent to never buy from that company again. This electronic orders increased, particularly during the peak holiday season, eToys was unable to meet its delivery requirements due to its limited logistics capability and poor demand forecasting, and make eToy.com unsuccessful in e- commerce. However the sites did offer toll free lines for customer services and attempted to have representatives in place for consumer contact, but this was not enought to create a feeling of trust and services.

History and Evolution of E-commerce

Electronic Commerce - Overview
E-commerce is a technology-mediated exchange between parties (individuals or organizations) as well as the electronically based intra-or inter-organizational activities that facilitate such exchanges. E-commerce consists primarily of the distributing, buying, selling, marketing, and servicing of products or services over electronic systems such as the Internet and other computer networks.

History and evolution of E-Commerce
The origin of commerce by exchanging goods occurred before recorded history, now commerce is a basic activity of goods trading and buying in everyday life. Entering into the electronic era, the way individuals and organizations do business and undertake commercial transactions have been changed. This indicates the movement towards electronic commerce. This means there is no paper work and physical interaction is limited, if at all. The emergence of electronic commerce started in the early 1970s with the earliest example electronic funds transfer (EFT), which allows organizations to transfer funds between one another electronically. Then another technology electronic interchange (EDI) was introduced. It helps to extend inter-business transactions from financial institutions to other types of business and also provides transactions and information exchanges from suppliers to the end customers. However, the early system development was limited to special networks such as large corporations and financial institutions, which are costly and complex to administer for small business. So EDI was not widely accepted as expected.
With the progress of Internet technology and a highly developed global Internet community, a strong foundation of prosperous electronic commerce continues to be built. During the 1990s, the Internet was opened for commercial use; it was also the period that users started to participate in World Wide Web (WWW), and the phenomenon of rapid personal computer (PCs) usage growth. Due to the rapid expansion of the WWW network; e-commerce software; and the peer business competitions, large number of dot-coms and Internet starts-ups appeared. Integrated with the commercialization of the Internet, Web invention, and PC networks these three important factors made electronic commerce possible and successful .

Here is the summary of Year and Event
1984
EDI, or electronic data interchange, was standardized through ASCX12. This
guaranteed that companies would be able to complete transactions with one another reliably.
1992
Compuserve offers online retail products to its customers. This gives people the first chance to buy things off their computer.
1994
Netscape arrived. Providing users a simple browser to surf the Internet and a safe online transaction technology called Secure Sockets Layer.
1995
Two of the biggest names in e-commerce are launched: Amazon.com and eBay.com.
1998
DSL, or Digital Subscriber Line, provides fast, always-on Internet service to subscribers across California. This prompts people to spend more time, and money, online.
1999
Retail spending over the Internet reaches $20 billion, according to Business.com.
2000
The U.S government extended the moratorium on Internet taxes until at least 2005.