Identity theft is the act of stealing or using an individual's personal information without their knowledge or consent, for example, to illegally apply for credit, make purchases, or gain access to funds. Since the statements or bills related to the fraudulent accounts are often sent to a different address, victims may not be aware of the increased debt until they are tracked down by creditors or are turned down for credit. Identity theft can take months to detect and even longer to clear.

Reduce your risk and protect your personal information in all your financial dealings, whether over the Internet or during your normal banking activities, by following these tips:

Passwords are the key to your online account information, to accounts at online stores and a host of other activities. Your HSBC Internet banking password would permit access to your bank accounts. For this reason it should be unique and very well protected.

No one at HSBC will ever ask you for your Internet banking password. If someone does ask you for it – they do not represent HSBC.

The Internet offers hackers the opportunity to access your system. In fact, although the web's a great way to find the demos, downloads, and music you may want, it's then that you could be at most risk. There are a number of steps you can take to protect yourself.

Golden rule number one
Update your operating system (e.g. Windows XP) and browser on a regular basis with the latest security updates and patches.

From time to time vulnerabilities are discovered in these programs. Before the publisher can release a security patch to correct these weaknesses, they can be exploited by virus writers and hackers to gain unauthorised access to those PCs that have not yet been patched.

To check for patches and updates you should visit the publisher's website, typically in their Download section.

Microsoft users can visit: http://windowsupdate.microsoft.com, which can automatically check what is required, and then suggest that you download it.

Golden rule number two
Use and regularly update anti-virus software.

You may already be using anti-virus software but to be effective the software should be updated on a regular basis with the latest “virus definition” files. If you are unsure how to do this, you should refer to the programs own Help function.

There are many effective programs to choose from, but the most common commercial products are from McAfee, Symantec (Norton) and Sophos.

It is also possible to obtain free anti-virus protection. A search for “free anti-virus” on Google will provide a list of the most popular.

Golden rule number three
Use personal firewalls.

A firewall is another small program that helps protect your computer and its contents from outsiders on the internet. When properly installed, it stops unauthorised traffic to and from your PC.

There are many effective programs to choose from. Common commercial examples are from Zone Labs , Symantec (Norton), McAfee and Computer Associates.

The widely recognised market leading free firewall is “Zone Alarm” from Zone Labs and there are many others to choose from. Zone Alarm is now used on over 20,000,000 PCs and has been awarded the PC World 2003 "World Class Award" for Best Firewall.

You should ensure that you and your family are aware of potential pitfalls and know the best way to deal with them. There are two key areas to focus on.

Logging in
Ensure you enter your correct password(s) without the details being overlooked by someone else.

Logging off
Always remember to log off from Internet banking and close your browser when you have finished your online banking. This will clear all traces of your visit from the PC's memory.

Generally, email that is sent or received through a regular email address (e.g. yourname@hotmail.com) is not secured or encrypted to protect the content. Therefore, any personal information you include in an email is at risk of being intercepted by unauthorised individuals. Do not send your Internet banking Id and/or passwords by email to anyone - ever.

Even when you are offline, there's much that you can do to protect yourself. This centres on keeping private information strictly private.