In today’s digital world, your bank account security is only as strong as your awareness.
A moment of negligence can cost you big, as scammers are now using sophisticated techniques to drain your account, without any OTP or PIN.
Wondering how bank accounts are hacked?
Let’s dive into the details to understand the different ways of banking fraud and, most importantly, how to protect yourself from falling victim.
How Bank Accounts Are Hacked in India?
Everyone of us use smartphones and most likely have one or other banking apps installed in the device. No wonder, it is difficult to reach out to your data stored in your phone but it is not impossible.
Scammers can get into your bank details by any means and steal your hard-earned money and life-time savings in a matter of seconds.
Here are some of the tactics scammers use to hack your bank account:
1. Phishing Attack
Old but still hitting hard.
To understand this, let’s give you an example:
Have you ever received an email or SMS on your phone like: “Your SBI account will be blocked. Click here to update KYC: [fake link].
Now such messages are not sent by your bank but by a scammer who has attached a malicious link along. Once you click on the link, you will be redirected to the fake website where you are asked to fill in your personal & login details, giving access to cyber criminals unknowingly.
2. Call Forwarding Scams
Next comes the call forwarding scam, where fraudsters impersonate a bank official or telecom executive, and scare on you the call by creating different situations like:
“Your bank account is under threat. Dial this number to secure it.“
Now by doing so, they make you divert calls. This secretly activates call forwarding, allowing them to steal OTPs.
3. SIM Swap Frauds
Scammers steal your documents and obtain a duplicate SIM card in your name by submitting those documents to your telecom provider.
Once the number is activated in their device, you completely lose network in yours and by the time you understand what happened, the scammer wipe off your capital by receiving banking OTPs on their device.
4. Clone Apps or Fake Websites
Scammers make you download fake apps by displaying flashy ads on social media.
Once you download the app, your phone get attacked by virus, giving access to scammer to your personal & sensitive information.
5. Free Public Wifi Network
Other than this, scammers steal details by providing you access to free public Wifi that looks legitimate.
However, as soon as you connect with that network, a scammer gets access and in a matter of seconds you can lose your hard-earned money.
How to Check if a Bank Account is Hacked?
If you suspect that your bank account has been hacked, here are some steps to check for unauthorized access and take immediate action:
- Log in to your bank account and check your balance and last transaction details.
- Some banks share alert messages when someone logs in to your device. Check for such SMS or email.
- Check if you have received any OTP or changed password messages without request.
- Make sure that no call forwarding is active on your device. In case you find something suspicious, dial ##002# on your phone to disable any unauthorized call forwarding.
- Contact your bank account to block transactions, in case you find anything suspicious.
How to Report Bank Frauds in India?
Even after being aware and alert, if you have been unfortunate in identifying the scam and lost your money, then instead of panicking, take quick action.
Register with us today and our team will connect with you for tailored support and a clear recovery path.
How to Protect Bank Account from Hackers?
It’s easier to prevent fraud than to recover from it and hence your little alertness can protect you from costly scams.
Here are some of the tips on how to protect your bank account from hackers:
- Enable two-factor authentication.
- Avoid clicking on any suspicious link.
- Dial ##002# to deactivate any unauthorized call forwarding.
- Use strong passwords.
- Regularly monitor your bank accounts.
- Be quick by learning the steps of how to report online frauds in India.
Conclusion
Hackers and scammers constantly evolve their tactics, but awareness is your best defense.
By recognizing these cyber fraud techniques, you can safeguard your bank account from getting hacked.
In case you have been a victim of any such scam or other online fraud, fill in the details in the form below. Our team will call you and guide you with reporting process.
