How Difficult is it to Hack Your Private Accounts?

mobile banking

With more and more people using mobile banking, there are more instances of hacking taking place. You will want to be sure that you know exactly how to protect your financial accounts, no matter what kind they are.

Sometimes, this can be accomplished through fake banking apps or fake sign in pages. As long as you do not enter your information somewhere it should not be, you are more than likely very safe. 

Keep in mind that hackers do not hack the banks- they are stealing your information from your devices to log in. Actually hacking into a financial institution itself is extremely difficult and borderline impossible. You will need to learn to keep your data safe online. 

Many hackers are likely looking to make accounts in your name or may be going after stimulus checks or Paycheck Protection Program loans. Any site you use should be safe and offer encrypted accounts, like CoolCat online casino does.

This is what you should know about staying safe online.

How Safe are Financial Accounts?

Many banks and other financial accounts are extremely safe. Plus, most banks are FDIC insured up to $250,000. If someone were to hack the actual bank, they would have to cover your funds up to that amount.

However, that is only if a hacker were to get into the bank. What if they get only into your account? 

First, contact your bank and have them block any card associated with your account. Then report it. Each financial institution will handle these issues differently. Although, many banks are very safe to work with.

Banks use an encryption level of 256-bit AES. This process is very secure and can be trusted to keep your accounts safe. In fact, most hackers never attempt to get into the bank- they usually hack your account by stealing your information.  

All a scammer needs is your username and password, there is no real reason for them to attempt to get caught trying to hack into a bank. If you want to stay safe, there are a few things that you can do.

Financial Accounts

How to Prevent Your Accounts From Getting Hacked

Avoid Fake Logins

Today, hackers’ main method of getting into your accounts is using a fake website or app. When you enter your information into the fake login page- they save your password and go use it for themselves.

You will always want to be certain that you are on your banks’ official webpage or using their app, each and every time you go to log in. If you are logging in for the first time, you will want to check any official documents or bank cards you have for the correct website.

Plus, you will only want to download verified applications to your phone. The best way to do so is only adding apps from the App Store or Google Play. Otherwise, you risk getting hacked or installing viruses to your device. Any unofficial store should be avoided.

Your bank will make it obvious where to log in and where to download their official app. You should not have to search through comment threads to find links- those will likely be fakes.

Avoid Phishing

Plus, you will need to be able to recognize phishing emails. They often have misspellings, bad links, and ask for your personal information. Your bank or financial institution will never ask you for your username and password. Do not respond to emails that ask for this information.

If you receive an email or text that is strange, contact your bank by calling their number. They will let you know whether or not the message is fake.

Don’t Make Guessing Your Password Easy

This one may seem obvious, but we are all guilty of making easy to remember passwords. We usually reuse them for all of our accounts to make things easier on ourselves. However, when it comes to your financial accounts, you will want different passwords for each. They should all be unique.

That way, even if a hacker got into your email or social media, they will not know how to get to your money.

It helps if you use upper and lowercase letters and a mix of symbols and numbers. Plenty of apps now offer multi-factor authentication methods as well. They are much safer, as the hacker would need to also have your cell phone to login as you.

Banks are very safe, so you can confidently save as much as you want in one- as long as you follow our above advice to stay safe on the internet.

How to Prevent Your Accounts From Getting Hacked

How to Tell if a Bank is Safe

You will want to be sure that the bank is FDIC insured. That means that it is backed by the government and is a great way to tell if your accounts will be safe.

Plus, it may be worth your time to read what people are saying about your bank and financial institutions online. Reviewers are honest, especially if they have a negative experience. If it seems like people at a certain bank are prone to hacking, you will not want to go with that option. 

Many 5-star banks are safe to use. They will often take care of the issue for your free too, as long as you detect and report the incident quickly.

 Conclusion

Many financial accounts are extremely safe to use. As long as you protect your usernames and passwords online, there should be no way for hackers to access your financial accounts. Banks use encrypted information to store your data, making them very secure options.

You should start by making sure your passwords are long and hard to guess by using symbols. It can be more annoying to remember them, but having unique logins for each of your accounts will further keep you safe from hackers.

If you are interested, be sure to read more of our articles! We have plenty of information here for you.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.