Everyone is wary of keeping their banking details safe. Banks are always trying to keep up with the latest in cybersecurity to ensure that their customer’s accounts and money are kept safe.
However, cybercrime is always developing and hackers are finding new ways to break into your bank accounts. It’s important to understand the latest criminal tactics to protect your accounts as much as possible.
If you want to ensure that you avoid becoming the victim of cybercrime you need to keep up with the latest trends. Read on to find out more about how criminals can breach your bank accounts.
Bank accounts are one of the most common targets for cybercriminals. The reason for this is simple: money. If a cybercriminal can make their way into your bank account they can make themselves a lot of money.
Cybercriminals are always working on new strategies to try and break into people’s bank accounts, which means that you need to be alert at all times to any possible new scams. Hackers can do damage quickly once they make their way into your account.
Cybercriminals have several methods they can use to get into your bank account. Most of these are difficult to spot and can be done without your knowledge. Thus, you might not be able to take action in time to keep your accounts safe.
The first tactic used by cybercriminals is phishing. Phishing has been around for many years, however, it has evolved significantly since the Nigerian Prince scam. These days cybercriminals are much more cunning.
Hackers Will use social engineering to trick people into falling for their scams. This means that they use well-known companies that you trust and use regularly so that you have no reason to question the email or the requests within it.
For example, one trending phishing scam uses Netflix to get hold of people’s login credentials or banking information. The scam involves receiving an email from Netflix stating that you need to update your billing information or your account will be suspended. Once you click on the link in the email you are taken to a fake replica website that has a keylogger installed. Typing in your details will hand them straight to the hacker.
The problem is that everything on the email looks legit, from the logo to the color scheme, everything looks like a replica of a standard Netflix email.
Cybercriminals can also use these fake emails to install malicious software on your device by using attachments. Once you open the attachment on your device the malicious software will be installed in the background, so you might never know about it being there. The software can range from viruses to spyware and ransomware.
Spyware can be used to monitor your screen or even control your device remotely. This will allow the cybercriminal to snoop through your files and potentially find your banking information which will allow them to gain access to your account.
Once cybercriminals have gained access to your account they have several options as to what they can do with it. In the majority of cases, they will make fraudulent transactions or transfer your money to their accounts.
However, some cybercriminals like to stay under the radar. They can also sell your login credentials on the dark web. Selling this kind of information to other criminals can fetch them a high price.
Other hackers will commit identity theft and open accounts in your name using your banking details. This is especially effective with people who don’t keep a keen eye on their bank statements every month, and it could take them a long time to catch on to it.
There are a few different ways you can keep your account secure. It’s important to use more than one cybersecurity measure in case a hacker can bypass one of them.
The first is to use antivirus software. Antivirus software will constantly scan your device for any malicious software. If any malicious software is found, the antivirus can also take the necessary steps to remove it from your device
You should also consider using login notifications for your bank account. These are extremely useful as they will let you know when someone has accessed your account. If you get a login notification at a time when you didn’t log in to your bank account yourself, there’s a good chance that your account has been breached and you need to take action immediately.
To keep your bank account secure you need to use strong and unique passwords. Strong passwords are Made up of random words, letters, numbers and symbols that do not relate to any of your personal information. Your personal information is easy to access for a cybercriminal which could leave your passwords compromised. You also need to create different passwords for each account to prevent all of them from being breached at the same.