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Seoul offers guidelines to fight Internet fraud

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Dec 06,2005
The government has established guidelines for electronic financial transactions in a bid to prevent online fraud, which has been increasing recently. The Financial Supervisory Service and the Korea Information Security Agency yesterday came up with the so-called “10 commandments on electronic financial transactions” for users of Internet banking and telephone banking services. The list recommends that users refrain from storing certificates or digital credentials that have been issued by financial institutions such as banks and securities firms on the hard drives of their personal computers. The certificates should be saved in another storage area that can be connected to the computer through USB ports or smart cards, which will prevent others from accessing the security information. The agencies, which are under the aegis of the Finance Ministry and Information Ministry, respectively, say that passwords for financial transaction- related Web sites should be changed frequently. Users should also refrain from having simple passwords, such as a birth date or telephone number, that others may easily identify. They also recommend that Internet banking clients not conduct financial transactions on computers in public places because they are likely to be infected with viruses. Equally important is clicking the Web address saved on the “favorites” list or typing the exact address for Internet banking services. Clicking the links that appear on spam e-mails or Internet bulletin boards may lead to fake Web sites where the users’ personal information is stolen. by Seo Ji-eun


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