News Highlights: How to Protect Your Bank Account From Getting Hacked.
Few things are more disturbing than hacking into your bank account.
Years of hard work and sacrifice can disappear overnight. Why? Because you put your trust in an institution whose sole purpose is to keep your money safe. And they couldn’t protect you.
Even if you can recoup the money, the fear can have lasting consequences.
So, let’s take a look at some preventative measures you can take to prevent your bank account from being hacked.
How hackers can access your banking information
As much as we’d like to blame the big banking companies for having us hacked, all too often it’s something we could have prevented if we had the right knowledge.
Here are some common ways hackers can access your bank account:
Wifi that is not password protected
Visiting public places, such as libraries or coffee shops, where the Internet is not password protected, exposes yourself to risk. Hackers can use unprotected Wi-Fi to access your personal information more easily.
Even if your bank password is not stored on your computer, they can still access data from your life that can help them infiltrate some of your accounts.
Hear from some hackers themselves:
You have online banking with public internet
One of the fastest ways to get your bank account hacked is to use the public internet to do your banking. While most banks take steps to make it difficult for hackers to access your credentials online, it is much easier for them if they have the same internet connection.
You clicked on a phishing scam
If you receive an email from your bank, make sure it is actually theirs. Phishers can set up elaborate, official-looking emails that appear to be from your bank. They may even say that your bank account has been compromised and that you should sign up immediately.
Once you click on their link and enter your login information, they will have full access to your account. Sometimes they even start the scam by texting your phone instead of emailing you.
Scammers have made a leap in agility in recent years. A major way they have done this is through card skimmers. These are devices implanted in regular ATMs, gas stations, or any point of sale that requires you to swipe your card. The devices record the information on your card’s magnetic stripe, which includes your name, credit card number, and expiration date.
Often these thieves use that data to carry out transactions over the telephone or the Internet. Sometimes they will transfer the data to make counterfeit cards in other countries. Other times, they can take it a step further to set up identity theft.
And even worse, some thieves install small cameras or rogue keyboards to steal your PIN, allowing them to empty your bank account.
Watch this video about credit card skimmers:
How to Protect Your Bank Account From Hacking
Fortunately, there are steps you can take to significantly increase the chances of keeping your bank account safe and protected from hackers. Follow these simple steps to improve your security game.
Invest in encryption software
Encryption software has become widely accessible and quite affordable these days. This software encrypts the data and activity on your computer, making it much more difficult for hackers to access your data.
Some systems come with encryption software, but if not, you should definitely invest in it. | Source: Twitter
There are several different types of encryption software. Some encrypt specific files, others encrypt your entire device, and some services, such as a VPN, encrypt your online activities.
As with all accounts containing sensitive information, you should always create a long, varied password. The difficulty required to hack a password changes exponentially with each additional digit added.
Never use predictable information from your life, such as your address or your pet’s name. Aim for a password of at least 16 digits, alternated with letters, numbers and symbols.
Enable two-factor authentication
Suppose you encrypt your device and create an invincible password, and a hacker somehow still finds your credentials. If you enable two-factor authentication (2FA), they still won’t be able to access it. They will likely need your phone to access the unique, one-time code required after you sign up.
If you need help setting up your 2FA, please contact your bank’s online customer service.
Familiarize yourself with impostors
Whether it’s a phishing scam or a card addict at an ATM, take steps to familiarize yourself with these scammers. There are often signs of tampering at ATMs that have been compromised.
And while phishing emails may look official, the actual email address they are sent with is less. Check for spelling mistakes, fake email addresses, and fake URLs before clicking anything. And never give away your login details.
If you follow these simple steps, your financial security will be in top condition. And if you think your account has been hacked, please contact us immediately.
Featured image by New Africa via Shutterstock.
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