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Home > Banking Services > Online Banking > Fraud Rate Within Online Banking Going Up!
Fraud Rate Within Online Banking Going Up!
Imagine what it will feel like if one day you open up your online account to check your statement and you find out that all your money has disappeared. Well, unfortunately, this is not just a hypothetical situation. It has happened to thousands of people all over the country and if you do not take the proper safety measures, you could be the next victim.
More than a year ago, Joe Lopez was victim of one of these dreadful crimes. Through an unauthorized wire transfer the funds from his small business account were moved to a bank account in Latvia. In the process, Lopez lost $90,000. Since he was a small business account holder; he had fewer rights than regular consumers in the same situation. Nevertheless, the importance of this case is that it helped to call the attention over financial institutions.
Some studies have shown that around 2 million consumers had fallen into tricks such as giving away their personal data and bank login information through phishing e-mails. Nevertheless, it is quite difficult to define how many of those consumers have actually suffered from attacks to their online bank accounts. Still, those who do have suffered them are able to ask for a refund. Anyhow, the paperwork is long and tiring.
In the moment a client discovers that he/she has been victim of this attack, he must report it as soon as possible to the correspondent authorities. Prompt action must be applied to prevent more attacks and the required information must be recovered for a refund to be possible. Meanwhile, banks are making every possible effort to strengthen security measures for their online clients. But at the moment, a username and a password are the only barriers between criminals and your money.
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