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Is Online Banking Safe?

Beware the pitfalls of convenience when it comes to conducting transactions via the web.

This story appears in the May 2010 issue of Entrepreneur. Subscribe »

Although small- owners are often encouraged by their banks to use services, recent news about common tools of the trade hasn't been good.

Last November, the issued a warning about a serious uptick in online banking fraud targeting , especially Automated Clearing House (ACH) transactions--which are used for direct deposit of payroll, vendor payments and the like--wire transfers and that steals sensitive information, including account numbers and passwords.

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