Although financial institutions take solid security measures to ensure that all bank accounts are protected, the instances of hackers getting hold of bank account information are still prevalent. Furthermore, the advancement in the internet technology has allowed hackers to tap into any computer, machine, or system via malwares and viruses.
If you want to learn more about bank account hacking and want to find out what happens afterwards, continue reading:
Unusual Purchases from Your Account
The first and the most prominent sign of hacking of your bank account are the strange entries in your bank statement. If your bank statement shows multiple unusual purchases that you did not make, it might be a hacking situation that you immediately need to report to your bank.
Freezing Your Account
Once you have notified your bank of the suspicious purchases, it will immediately freeze your account. Freezing an account is the best strategy to prevent any further financial loss. A frozen account keeps hackers from spending your money. In the place of your stolen card or account, your bank will issue a new account number to you with all your funds transferred to it.
Getting a Refund of Lost Money
What most people are worried about is losing their money as a result of hacking. However, most banks have a refund policy in place for hacked accounts, which means that the money spent by the hacker will be transferred to your new account.
In order to get a refund of the lost money, your bank will provide you with a detailed form that you will need to sign. This form will also include a written oath that requires you to sign to confirm that you had nothing to do with the hacking or theft of money.
Preventing Future Loss
In order to prevent future hacking incidents, you must take necessary security measures to protect your banking information. Many times hackers gain access to your personal information via malware. It is also important to beware of suspicious sites and avoid entering your bank details on every website. If you make regular online purchases, get the best malware and spyware protection program so that your data stays secured.
Keeping an Eye on Your Bank Statements and Credit Report
A great way to keep hackers and identity thieves at bay is to keep checking your bank statements and credit report. Ask one of the three credit reporting firms to send you a free copy of your credit report. The reporting agency will send you the credit report for a 30 days review. In this duration, you can check every transaction, transfer, and purchase made through your credit card.
Your bank statement also needs to be checked thoroughly. If you find suspicious entries in your statement, make sure you alert your bank and get your account frozen as soon as possible.
Your bank account must be protected from any type of criminal activity. If you are actively tracking your account statement, you will be able to catch the hacker in action before you run out of all your money.…Learn More