The Internet may have made doing business and making transactions a lot more efficient and convenient, but it also opened a lot of opportunities for swindlers to take advantage of this wonder. Thus, we always hear of online scams left and right.

It is important that you equip yourself with the right knowledge in regards to protecting yourself against identity theft, which has become one of America's fastest-growing crimes. Remember that thieves only need to know a few pieces of personal information, such as your name, mother's maiden name, social security number and account number to commit their crimes. How do they do it? You may have received an e-mail asking you to enter or update your account information. Don't fall prey to these vultures. Protect yourself. Here are some tips.

· Do not open e-mails if you don't know the sender. Sometimes, simply opening a fraudulent e-mail might expose you to key logging software, or viruses that record your keystrokes as you enter them.

· When you open unsolicited email, do not click on the links it asks you to. They usually lead to a website that requires you to enter account information.

· Change your user ID, password, or both periodically. Ideally, you should change this information every 30 to 60 days. (Learn how to protect your passwords)

· The best way of making sure you are making a safe transaction is to type the online bank's URL into your browser. Do not trust links and e-mails. Always make sure that you are typing in your information on the official website of the bank.(More tips on how protect yourself against identity theft)

Always bear in mind that the bank will NEVER request your password over the phone or the Internet. If someone tries to take your identity, contact your bank. You can also forward any suspicious e-mails to your bank's email address.