Can someone access the internet using my ip and commit fraud on my different internet accounts like my bank for instance

There are a number of common ways hackers can access your computer or Internet accounts. One of the more commons ways is using a primitive yet effective Internet tool called Telnet. Telnet pre-dates the web browser by decades. It was one of the first tools used on the Internet. However, in the last few years, the popularity of Telnet has waned due to the complex commands the user must enter to connect to a remote computer. For that reason, most people are not familiar with Telnet. To a hacker, Telnet is a powerful tool. A computer that is connected to a network uses one or more protocols. A protocol is like a language two computer use to communicate. The language or protocol for the Internet is called Transmission Control Protocol/ Internet Protocol or TCP/IP. A computer using TCP/IP has many "ports" open. A port is like a "pipe" or connection to the Internet where communications are directed. For example, when you retrieve web pages from a web site, that information is usually transmitted via TCP port 80. You computer has many ports and while they are open, a hacker can attempt to access your computer through the port. A hacker can scan your computer looking for open ports. When the hacker finds an open port, he can attempt to connect to you computer via that port using a Telnet application or other specialized networking tools. From there, he may be able to retrieve files, place files (including viruses) on your computer, or watch your Internet communications. All of this can be done without anything showing up on the screen. Another common way hackers access computers is to send you a Trojan Horse application. Like the mythical gift from the Greeks to the residents of Troy, a Trojan is an application that looks innocuous and may even behave as expected, but lurking inside is a virus or other malicious program. Some Trojans allow a user to access your computer at anytime you are on the Internet. One of the most common Trojan applications is called BackOrifice. Originally designed as a remote maintenance and administration tool for corporate networks, BackOrifice quickly became a tool for hackers to access computers and steal information.

To protect yourself from all of the above threats...you should have a good firewall and a router. To better educate yourself, please read: Tips to Safely Conduct Financial Transactions Over the Internet and Using IE Security and Privacy Features i_XpUser