Protect your Finances from Fraud

Computer users are being warned to take precautions to protect themselves against infection from the Game Over Zeus virus. If left undetected, the virus can empty your bank accounts as well as steal personal information such as passwords and credit card numbers.

It is feared that thousands of computers could be infected by this virus, and if the criminals that are behind it do successfully manage to take funds from people's bank accounts, then the effects are devastating.

Here are some tips on how to help prevent the virus.

• Keep your computer system updated. These means making sure that all of the programmes on your computer are up-to-date and the updates that help protect the system from vulnerabilities are completed.
• Make sure you have a complete Internet security suite that includes protection from malware and a firewall.
• Don't click on links on emails as this is one of the most common forms of infections.
• Ask your bank about the security measures that they have in place for Internet banking and ask if they have an option to block anyone else from transferring money out of your bank account.
• If you are a Mac user, don't think that the virus won't infect your computer. While this virus mainly targets Microsoft systems, it won't be long before it targets Mac users as well.

What happens if you lose money?

People can reduce the possibility of being infected by this virus by taking the above precautions. However, should your system become infected and money is taken from your bank account or credit card, you'll need to know what to do next.

Consumers are usually protected if money is taken from their bank account or credit card without their knowledge. However, banks and credit card companies are increasing putting the onus on their customers to protect themselves, and if a customer does not take reasonable actions to reduce the risk of having their money stolen, then they might not be refunded for any losses.

It is imperative to read the terms and conditions from your bank or credit card company and ensure that you are doing everything that you can do to prevent being defrauded. For instance, if you don't keep your computer updated, or if you don't have Internet security, then you probably won't be covered in the event of theft if it is deemed that you have acting recklessly.

Check your bank accounts and credit cards regularly and if you notice any transactions that you don't recognise, contact your bank or credit card provider immediately.