Tech Bytes: NationsBank Sponsors Fraud-Watch Web Site

NationsBank Corp. has awarded a $100,000 grant to the National Consumers League to sponsor a fraud- monitoring program for the Internet.

The Washington-based consumers league began its "Internet Fraud Watch" in February. The organization's advisers field calls and try to resolve or report alleged incidents of on-line fraud.

The most common scams reported so far have been work-at-home schemes, though there also have been instances of people attempting to set up phony banks on the Internet, the organization said.

Linda F. Golodner, president of the league, said the fraud- watch Web site gets an average 25,000 hits a week. The NationsBank grant will help expand the program's consumer education and protection programs, she said.

NationsBank plans to offer Web-based banking to customers in mid-1997. Kenneth Lewis, president of NationsBank, said security is a top priority.

"The Internet's growing popularity and potential for commerce make it a vitally important avenue for American business," he said. "It's equally important that consumers know the Internet is a safe and secure place to do business."