This post is originally authored at the home security blog at FamilyHomeSecurity.com.
Today, many consumers use Paypal for everything from purchasing eBay items to managing small business transactions. However, you may not realize that Paypal was created just ten years ago (in the year 2000), as a result of a merger between X.com and Confinity. In October of 2002, Paypal was purchased by eBay for $1.5 billion dollars. In 2009, Paypal’s total payment volume was around $71 billion dollars, up 19% from 2008. In total, there are around 185 million Paypal accounts currently in existence.
If you use Paypal, it’s important to realize that it should be treated just like any other financial transaction. Due to the large number of people who have had their Paypal information compromised, you need to be extremely careful. Here are a few quick tips to help you use Paypal in a safe and effective manner.
1. Choose a Secure Password
Many online security experts recommend choosing a password for your financial accounts that will be extremely difficult to guess. The best password incorporates a combination of letters, numbers and special characters. For example, your password could be Dk8y12:r8. While a combination password may be difficult for you to remember, it can greatly decrease the chance that your Paypal account will be compromised.
2. Never Click Email Links!
The importance of not clicking email links to login to your Paypal account cannot be over-emphasized! Many scammers will send you an email that appears to be officially from Paypal, which often includes a link to prompt you to login to your paypal account. Even if the link looks legitimate, and takes you to a site that looks exactly like Paypal, NEVER login to an email-linked website. An illegal practice called “Phishing” allows criminals to steal your Paypal login information, possibly locking you out of your Paypal account (and resulting in a loss of all funds). To login to your Paypal account, always manually navigate to http://www.paypal.com in your browser’s web address bar.
3. Don’t Give Out Your Information.
This may seem like common sense, but it’s extremely important that your Paypal login information remains private. Even if you have a small business that is owned by two parties, never share your personal Paypal information. Instead, consider setting up a business account that can be safely accessed by all required parties.
4. Check Your Balance.
Out of the 185 million Paypal accounts, about 75 million of them are considered to be “active”. Periodically checking the balance of your Paypal account can allow you to quickly discover if fraudulent charges have been made on your account. It also allows you to check on any potential disputes, chargebacks and holds placed on your account’s funds.
5. Don’t Login from Public Computers.
Every time you check your Paypal balance from a public computer, you put your account information at risk. This is because public computers may contain malware or viruses that automatically log keystroke information. This may mean that everything you type is recorded in a “transcript”, and sent to the creator of the virus or malware program, allowing them to gain access to your account. Though many public computers may be safe (and free of dangerous programs), there isn’t any way for you to be completely sure that your information will be safe. When in doubt, it always pays to err on the side of caution.
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How a Monitored Security System Affects Crime Statistics
This post is originally authored at the home security blog at FamilyHomeSecurity.com.
It’s estimated that around 14% of homeowners own some type of burglar prevention system for their home. This may include monitored security systems, simple motion detection alarms, security lights and video surveillance. However, many people don’t fully understand how having a monitored security system directly affects the chance that their home will be successfully burglarized. Though some of these statistics are circumstantial (relating to the crime rate in an area, the type of home, neighbors, etc), they can still provide a window of insight on the effectiveness of monitored security systems.
In a quick “unofficial” poll conducted of 30 unrelated individuals (via Twitter), only four users stated that they believed that a monitored security system would actually reduce their chance of being burglarized. Six out of these 30 users said that they believed that a monitored home security system is worth the cost. In reality, the statistics tell a different story.
Chance of Being Burglarized
In a year-long period of time, some statistics state that a home has a one-in-four chance of being burglarized (Note: This is without paying attention to circumstantial situations). The Greenwich Study of Residential Security provided some interesting statistics about the different percentage of homes that were burglarized with and without alarm systems. According to this particular study, a home without an alarm system is from 2.7 to 3.5 times more likely to be burglarized than a home that has a burglar alarm. In this study, the importance of displaying a security “Alarm Sign” (which is included with most all monitored security systems) was also highlighted. Since the Canadian homeowners in the study often failed to display their signs due to heavy snow, the benefit of having an alarm system was slightly lower for residents in that category.
Another interesting statistic (from a study by the National Burglar and Fire Association) was that 9 out of 10 convicted burglars admitted that they would avoid stealing from a house that had a monitored security system.
When a monitored security system is combined with other security features (such as deadbolt locks, security lights and video surveillance), the chance of being burglarized drops even further. One statistic even stated that homes that use combined security measures have less than a 1% chance of being successfully burglarized.
Cost of Monitored Security
The actual cost of having a monitored home security system is subject to a lot of misunderstanding. Due to the fact that most monitored security systems include a monthly fee (and a contract), many people often see them as an unnecessary expense. However, the average burglary (according to a 2005 FBI study) will result in $1,725 in losses. Depending on the crime statistics in a specific area, a home could have a 25% chance of being burglarized each year. This could be interpreted as a homeowner having a one-in-four chance of losing around $1,725 each year from a burglary.
A basic security system package will cost around $40 per month, resulting in $480 spent per year on monitored security. However, having monitored security often results in a reduction in homeowner’s insurance of up to 20%. If your home insurance costs you $100 per month (or $1200 per year), you would save $20 per month (or $240 per year). This means that you could interpret the average cost of a security system to $20 per month, or $240 per year. However, every homeowner’s situation is different, and you must evaluate if having a monitored security system is within your budget.
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How a Monitored Security System Affects Crime Statistics