Paperless could be dangerous for your bank account

John Aaron, wtop.com

WASHINGTON – Going paperless could be downright dangerous for your bank account.

The latest versions of an especially nasty computer virus allow thieves to collect your personal information, take your money and, worst of all, keep you in the dark about it all.

The newest Spy Eye viruses work by first capturing login information or debit card numbers when they are entered online. After money has been transferred out of an account, crooks can mask the transactions by posting a fake balance through a process known as HTML injection.

The computer security firm Trusteer says the latest round of attacks on banks in the U.S. and England ramped up just before the holiday season.

Comparing your online activity to a paper statement would quickly uncover any schemes. But since so many people have gone paperless, it often takes months to discover what is going on.

In order to keep the virus itself at bay, software maker Sophos recommends keeping your antivirus programs and your browser up to date, and making sure your browser’s anti-phishing option is turned on.

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