If your wireless router supports Wi-Fi Protected Setup turn it off immediately (if you can).

Commencing in the past few days, all stores in the Woolworths group have banned the use of debit Visa and Mastercard transactions. This will lead to an increase in transaction fraud and greater costs to the consumer.

Credit card theft, unauthorised bank account access and identity theft are rife in Australia with more than one in five Australians aged 16-years or over now reporting that someone has stolen their identity, illegally accessed, or tried to access their bank accounts, stolen or skimmed their credit cards or tried to steal their bank account pin.

It is bad enough that the bad guys constantly try and phish your financial data via email and fake websites, now cash machines are getting in on the act.

Despite concerns emanating from the US about the security of ATM/EFTPOS networks, the relevant industry body claims best practices are applied in Australia. There have been no reports of such attacks in Australia, said a spokesperson.

The Bank of America in the UK is amongst the first to pilot a new VISA credit card with an integrated PIN pad and one-time security code system for Internet transactions. So how does that work then?