The internet has become a place of convenience to perform a variety of transactions including online banking. You can send and receive money conveniently, purchase goods online and even transfer funds using the various financial sites available online. One thing that is of great concern to financial institutions is the increasing number of cyberattacks against financial sites with hackers and fraudsters looking for client information for crime purposes. There are many techniques used by these criminals to gain your personal banking information such as:
Trojan viruses are unique kinds of computer software’s that attack your personal computer while you are browsing on the internet. The Trojan virus automatically opens and displays a dialogue window on your computer. The window may look similar to the appearance of your bank’s online website or financial site and demand for your user name and password. Once you enter this personal information, the virus will relay it back to the hackers and they can use your login information to access your real account on the real bank or financial website.
You should screen the mails you receive in your inbox carefully before replying to them or clicking the links in the emails as they could be spam and phishing emails. These emails may appear like they are from your online bank or financial site, asking you to follow a link or confirm your password and username. The emails may even be threatening with messages saying that if you do not confirm the required information; your account will be disabled or suspended to persuade you to enter the information. Once you click on the links and give up personal information, hackers and fraudsters can access your online accounts.
There are some keyboard spying programs that will monitor activities on your computer while you are online and relay the information to the hackers. You will probably end up installing key logger Trojans when opening unknown emails or clicking the wrong links when browsing online. The key logger Trojan is set to wait until you open any of the Trojan’s list of bank sites then capture the keystrokes of your username and password. The cybercriminal can use the key logger to steal your personal data and access your account.
Once cybercriminals have access to your accounts, they can transfer funds from your account to their own accounts. Some cybercriminals may use the personal information they collect from your online accounts to steal everything they can from you including your other sources of income besides the online accounts. Worst case scenario would-be cybercriminals using your personal information to steal your identity. In case they do, any crime committed using your identity, the blame would solely fall on you even if you have no idea what is going on. You may have a hard time trying to convince the authorities that you are not involved in whatever criminal activities they do use your name.