10 Ways Hackers access your Banking details and Tips on how to stop them

Below are 10 Ways Hackers access your Banking details and what you can do to stop them. The bank account of someone was hacked this morning and his entire account was cleared. The guy almost lost his mind. So, with this quick research to WARN YOU with what you can do to keep your bank account well protected. Bank users are fast moving over to Internet banking, and this has motivated hackers to hunt for login details. And they will go to any length to be able to access your money.

1. Mobile Banking Trojans.

A hacker can create a perfect replica of a bank’s app and upload it to shady 3rd-party sites. Once you've downloaded the fake app and entered your username and password into it, it’ll be sent to the hacker. They may also install malware in an unrelated app. When you install this app, the Trojan begins to scan your phone for banking apps. Whenever it detects a banking app being launched, the malware quickly puts up a window that looks identical to the app you just booted up. If this is done smoothly enough, the user won't notice the swap and will enter their details into the fake login page. These details are then uploaded to the hacker. Typically, these Trojans also need an SMS verification code to complete the hack. To do this, they'll often ask for SMS read privileges during installation, with it, they will steal the codes as they come in.

Solution 1:

When downloading apps from the app store, check the number of downloads it has. If it has a very low download count and little or no reviews, it might be an impostor. Also, be careful with what permissions you give apps. If a mobile game asks you for SMS read permissions, do not allow the app to install. Never install apps from 3rd-party sites, as they're more likely to contain malware.

2. Phishing.

Hackers can hack the email or chat accounts of your trusted contacts and send you emails or chats from there. They send links and trick people into clicking them. The sender's address would be legitimate, and the hacker could even talk to you on a first-name basis

Solution 2:

If an email address looks suspicious, treat it with a healthy dose of skepticism. If the address looks legitimate but something "seems off," make every effort to validate the content with the person sending it,...and do so over a phone call rather than email.

3. Keyloggers:

Keyloggers are a type of malware that records what you're typing and sends the information back to the hacker. So, imagine what would happen if you typed in your bank's web address, followed by your username and password in the presence of keyloggers. The hacker would have all the information they need to have access to your account!

Solution 3:

Ask your bank if they support two-factor authentication. If "Yes," be sure to enable it. Do the same on your WhatsApp & other chat platforms. This makes the malware far less effective, as the hacker won't be able to replicate the authentication code even if they get your login details. And if it's possible, install an antivirus to help you stop them on their track.

4. Man-In-The-Middle Attacks:

A hacker can target the communications between you and your bank's website to get your login details. These attacks are called Man-in-the-Middle (MITM) attacks. They monitor your activities when you're using an insecure server. Sometimes, however, a hacker will use DNS cache poisoning to change what site you visit when you enter a URL. A poisoned DNS cache means that "http://yourbankswebsite.com" will instead go to a clone site owned by the hacker. This cloned site will look so identical to the real bank website. And if you're not careful, you'll end up giving the fake site your login details.

Solution 4:

Desist from performing any sensitive activities (like banking) on a public or unsecured Wi-Fi connection. Use secure connections such as your home Wi-Fi. Also, do not forget to always check for HTTPS in the address bar whenever you log into a sensitive website. If it's not there, there's a good chance you're looking at a fake site. If you must perform banking transactions or other sensitive activities over a public Wi-Fi network, read up about VPN on the Internet. With it, you can take control of your privacy. A VPN service encrypts your data before your computer sends it over the network.

5. SIM Swapping.

A hacker can contact your network provider, claiming to be you and complaining that they lost their phone. They'll then request that their old numbers be transferred to their new SIM card. With this, the network providers will then install your phone number on the hacker's SIM. Once they have your number on their SIM card, they can circumvent SMS codes easily. When they log into your bank account, the bank sends an SMS verification code to their phone rather than yours

Solution 5:

I'm aware that network providers typically ask confirmatory questions to check if the caller is who they claim to be. But some of them can be lax with checks for SIM transfers, which allowed hackers to easily perform this trick. KEEP YOUR DETAILS PRIVATE.

6. Trusting Suspicious Emails, Text Messages, and Phone Calls:

Fraudsters often use tactics like fake emails and texts to trick people into revealing their bank details. It's crucial to verify the authenticity of such communications before responding.

Solution 6:

You should be alert to suspicious emails, especially those that come with promotions from banks giving links you should click. Check the email ID or address and compare with the bank’s official email to see if anything is off (that is, to see if it’s an unofficial or copycat account). Most importantly, always call your bank to confirm any suspicious email before you reply.

7. Social Engineering via Phone Calls and Texts:

Similar to emails, fraudsters may use phone calls or texts to deceive individuals into providing sensitive information. It's important to confirm the legitimacy of such requests before sharing any personal data. Text messages about your account being blocked because of your BVN and instructing you to call another number to activate; phone calls from strange numbers (numbers different from your bank’s customer care numbers) asking you to disclose your bank’s details especially when you did not previously log a complaint with your bank about any issue related to what is being asked of you, amongst many others, should all be confirmed before responding to them

Solution 7:

Don’t be quick to share sensitive bank details through any means, no matter how genuine it seems. Use your bank’s helpline and if you can, go to a nearest bank branch to confirm.

8. Social Media Profiles:

Hackers can gather personal information from social media profiles to facilitate account hacking. With this basic information, a sophisticated hacker can get past other options to change your pin and access your account.

Solution 8:

Users are advised to review and limit the amount of personal information they share online, especially if it's related to banking.

9. Unencrypted Websites:

Accessing online banking or shopping on unencrypted websites poses a security risk. Users should ensure that websites they interact with begin with "https" and display a lock sign in the address bar.

Solution 9:

You should never shop or log in to online banking when the web address does not begin with “https” or without a lock sign displayed on the address bar.

10. Weak Passwords:

Weak passwords make it easier for hackers to gain access to accounts especially for those who use Internet Banking. Strong, unique passwords consisting of a combination of letters, numbers, and symbols are recommended for better security.

Solution 10:

Use Strong and unique passwords that are long, random and made up of different cases, numbers, letters and symbols these best and difficult to crack.

11. Cheque Books and Account Numbers:

Criminals may exploit physical documents like cheque books to obtain account information. Users should safeguard their cheque books and be cautious about sharing account-related details.

These points emphasize the importance of staying vigilant and implementing security measures to protect one's bank account from unauthorized access and fraudulent activities.