Chapter 14 - Cash Control and Banking

Article: Take action to protect yourself against fraud -http://www.canada.com/business/Take+action+protect+yourself+against+fraud/2739737/story.html



Summary: A recent poll conducted by TD Canada Trust reveals some promising statistics. The study showed that 73% shred documents, 62% shield their PINs amd 12% have spoken to their bank asking them to lower their daily widthrawal limits. TD's vice-president said that the results are very encouraging that many Canadians are taking steps to protect their personal information. There are still some people, however, that do very dangerous activities such as sending their credit card numbers through email, telling others their pin numbers and carrying their PINs in their wallets.

Connections: Chapter 14 talks about the safekeeping of money. A major part of that is proctecting your personal banking information. Identity theft is very common and can cause your bank account to become comprimised. Once your account has been comprimised, it is often very long and tedious process to get your money back and to prove that you have been compramised. It is not rare for bank accounts to get compramised, it happens to millions each year.

Reflection - I do believe that your bank information is one of the most dangerous pieces of information you have. Once others have that information, all your hard earned money is put at risk. Protecting your personal information is quite easy. Shredding your documents, shielding your pin, and protecting your bank card, and being carefull about entering your personal information over the internet will protect your account and information from being comprimised.