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Online Bank Account Hacking Options - What You Should Know

How can I protect myself from a hacked bank account? How easy Internet banks are to hack

October 19, 2020

How to protect yourself from a hacked bank account? How easy Internet banks are to hack.

Methods of hacking bank cards and options for protection against them. Hacking an online bank - gaining access to citizens' money accounts using malware or fraudulent activities through unauthorized access to the remote banking system (RBS).

Hacking an online bank is understood as illegal access to the money accounts of specific users. For this, both various malicious programs and various fraudulent schemes can be used. Online banking began to be actively developed and implemented in the financial environment just a few years ago, but from the very beginning it attracted fraudsters. The use of various applications and programs allows for a variety of manipulations with funds, without the knowledge of both the bank employees and the account holder.

It is especially dangerous to use a banking product that has not passed the appropriate security checks. Fraudsters can easily bypass the system and easily take over both the data itself and the money. At the same time, the bank itself cannot influence the full protection of its users' profiles, since it is not able to control, among other things, the choice of passwords for entering the account. That is why, when concluding an agreement with a bank, there are several points that the user is solely responsible for the safety of his data. At the same time, the bank's client himself is obliged to make sure that the necessary measures have been taken by the banking organization to protect user data.

What are the ways to hack online banking

In fact, attempts to hack online banking are no different from hacking any application, so attackers will use one of the following schemes:

  • phishing - mass mailing of various messages is carried out, in which the text of the messages copies the appeal of the bank's employees. After clicking on the link in the text of the message, clients are lured away with data to enter their personal account. It's enough just not to click on suspicious links in messages that you don't expect. Carefully check all messages that come on behalf of the banking institution;
  • an attempt to steal personal data to enter your personal account - attackers first of all try to steal an email address and a password for entering. Additionally, scammers can try to steal cookie data, which is represented by session identifiers in any application, including banking. That is why it is worth monitoring your device so that no one can copy your data or enter the application during the period of activity;
  • an attempt to hack the bank's website - scammers can take advantage of the errors that the developers left after the application was implemented. As a result, attackers manipulate data and gain access to users' personal accounts and are able to redirect funds to third-party accounts so that they cannot be traced and returned in the future. The most important thing is to monitor all active sessions of the application and not open it on third-party gadgets;
  • test deceptions - under the guise of application developers, fraudsters contact users and try to trick them into conducting transactions to a prepared account. If a similar operation is carried out, fraudsters can use specialized software to gain access to the rest of the funds. Therefore, you should not trust various checks, especially since bank employees never offer to carry them out to ordinary users;
  • DDOS attacks - Multiple attacks aimed at disrupting the operation of the security system can distract from both disruptions and theft of funds.

To protect yourself and your savings, you need to additionally check who exactly can become a victim of attackers.

Targets, victims and sources of scammers

The main goal is the application itself, which provides access to customer accounts. The banking structure itself is most often already reliably protected, so attacks fall on clients and the gadgets they use to access their accounts.

That is why it is necessary to carefully check any activity on the device when you work with the banking application. At a minimum, you need to check the reliability of the connection and not follow third-party links.

Problems in connection with mechanisms ensuring reliable data transfer between the bank and the client can be used as sources for gaining access to the operation of the banking application. In fact, it is enough to just pay attention to the browser string. If you see that the site address begins with a combination of HTTPS, you do not have to worry about data protection, they are transmitted between you and the bank via a special encrypted channel.

In some cases, fraudsters can use a fake application to trick them into entering their details and transfer access to real accounts. That is why the bank is trying protect both your assets and the assets of system users.

The most common recommendation is to use a two-factor identification system. For example, to enter not only the login and password when entering the bank, but also the confirmation code, which can be sent to the mail or sms-message.

Additionally, don't forget to use antivirus software to protect yourself from malware attacks.