{"id":3123,"date":"2023-03-15T12:00:00","date_gmt":"2023-03-15T12:00:00","guid":{"rendered":"https:\/\/www.hostrw.com\/kp\/?p=3123"},"modified":"2023-02-02T15:00:33","modified_gmt":"2023-02-02T14:00:33","slug":"smart-tips-to-stop-money-from-being-stolen-through-online-banking","status":"publish","type":"post","link":"https:\/\/www.hostrw.com\/kp\/en\/smart-tips-to-stop-money-from-being-stolen-through-online-banking\/","title":{"rendered":"Smart Tips to Stop Money From Being Stolen Through Online Banking"},"content":{"rendered":"

There are a lot of things that have changed since the invention of the internet. One of these is how we bank and access our accounts. You used to have to go into a local bank branch to make deposits and withdrawals. Now, you can take a picture of a check and deposit it from your phone.<\/p>

Approximately 73% of<\/a> people around the world use some form of online banking at least once a month. People have never had such convenient account access. But that convenience can come at a cost.<\/p>

In 2021, account takeover fraud increased by 90%. New account fraud jumped<\/a> a whopping 109%. As the ease of online banking has increased, so has banking-related cybercrime.<\/p>

If someone breaches your Facebook account, it can be a real pain. But, if a hacker breaches your bank account, it can be devastating. It can mean significant losses. Losses that you may not be able to recoup from your financial institution.<\/p>

In this article, we\u2019ll take a look at the mistakes people make that leave their accounts at risk. Then, we\u2019ll go over some important tips on how to keep your bank account better protected.<\/p>

Mistakes That Allow Criminals to Access Your Account<\/h2>

<\/p>

Not Enabling Two-factor Authentication<\/h3>

Two-factor authentication (2FA) is a simple process that packs a big punch. When you enable this setting in an online account, it requires an extra step to gain access. That step usually consists of receiving a one-time passcode (OTP) by SMS and entering that at login.<\/p>

Many people make the mistake of leaving this disabled. They either don\u2019t know it\u2019s there or they think it\u2019s too inconvenient. But leaving this setting off makes it much easier for a bad actor to breach your account.<\/p>

Falling for a Phishing Scam<\/h3>

There are several types of phishing scams that target online banking. Cyber criminals send emails that look like they come from your bank. They\u2019ll even promise incredibly low rates on credit cards.<\/p>

Other scams can involve warning you of unauthorized account activity. But when you click the link to log in, you\u2019re actually on a fake page. One designed to look just like your normal bank website.<\/p>

These are just a few ways that scammers can get your online banking login details. Once they have them, they\u2019ll act immediately to get whatever they can.<\/p>

Using Easy-to-Guess Passwords<\/h3>

If your account password is easy to remember, it\u2019s also often easy to guess. Using weak passwords is a common mistake that enables many cyber criminals.<\/p>

Some best practices for passwords include:<\/p>