Online banking fraud is a scam that is committed by the scammers by using digital technology to remove money from bank accounts illegally. In these days of the corona pandemic, people are transferring their business to digital marketing and are discovering new ways to flourish their business.

Similarly, digital banking is being common and its success rate is increasing day by day with greater speed and efficiency. Online banking is used by customers to purchase goods, payment bills, checking accounts, and fund transfer. Although online banking is considered the safest way of banking which saves both your time and money. You get a password and user ID that ensures the safety of your account.

Digital banking is getting popular gradually due to its lot benefits that you get y sitting at home in no time. According to the statistical analysis, approximately 45% people of in the USA rely on internet banking and pay their bills and transactions through this newly introduced system. Banks also get benefits from it because online operating they save their operational expenses and the chance of error is minimum.

So with the increase in popularity of online banking scammers are also getting active and trying to get money illegally by acting in various ways. This is the reason about two million Americans have suffered from this fraud and many are still suffering. Approximately 1200 dollars have transacted illegally according to the reports of sufferer per bank of USA.

Online banking frauds are not randomly committed instead the scammers first make plans and then act upon a specific technique to cheat you in different ways. The offender uses the personal information of the user and then accesses his or her bank account for money transfer. Following techniques are being used by the offenders

Phishing technique :  it originates from two words password and fishing. In this procedure, the offender sends a fraud mail to the customer and the customer considers this mail from the bank. The scammer demands personal information via mail and the social security number of the customers. Then he used all the collected information to get money from your account. Phishing is the most used and common way of online fraud in the USA.

Trojan horse technique ; during this procedure a malware is used to check the computer of the user without his permission. This scheme leads you to close the identity theft and hence spoil your reputation.

This is a very easy technique of banking scam in which the offender monitors all the activities of the user and keeps an eye on all transactions made by him. For example; when he is providing his cash details on phone, buying something online and paying for it, and adding a pin code on the cash machine. After accommodating all data the fraudster made a record of collected data and then uses it for fraud. The other name of this kind is mobile banking fraud because people usually use a mobile phone in this regard.

The fraudsters are very clever and they try not to leave any clue behind. The mails they send to their target seem to be real and authentic. According to the research, it has been concluded that about 97 % of people cannot differentiate between authentic and Phishing mail. So it is very difficult to keep your bank account secure from offenders. Here we will talk about some of the safety measures adopting you can get rid of any online scam.

If you receive an email in which you have been asking for your password your bank account number and pin code then be conscious and do not provide the required information at all. Your bank will not ask for any information of this kind through email. So wise decision is not to share your bank information in this way you can ensure the safety of your hardtop earns money.

Search on the internet what are possible ways to ignore online scamming and then act upon them and do not fell a victim to any illegal scheme. Don does not reply to such fraud mails in which you are being compelled to share your personal information specifically your bank account.

The password plays an important role in preventing your bank account from fraud. So it is crucial to set a strong and unique password. Do not write your birthday date or word password as your password. The use of abbreviations is very effective it will make it hard for offenders to access your bank account. Make sure you are alone while adding pin code on the cash machine.

After using and transaction or after fund transfer you will get a transaction slip. Do not throw it anywhere and dispose of it carefully. If you pay all your bills online and shop online then you have to pay for it online. The online payment method is risky and can put you at risk of fraud. Taking safety measures is important so what you can do is before throwing your bills or slips tear them into small pieces then bin them.in this way your financial security will remain intact.

The use of Social media is increasing at exponential rates. You can talk to anyone sitting in any corner of the world. Many different social media platforms have made it easy to access anyone in the world in no time. You can enjoy videos, talking, and chatting. But at the same time, this platform can put you in an unusual situation where you cannot find any way out.

Sharing of personal information on social media is very dangerous and can ruin your wealth and identity badly. So to avoid online banking fraud does not share your financial information and financial status on this platform at all.

Spywares are commonly used to hack accounts or devices. This method is used in digital banking fraud. The only safety measure that you can take to prevent yourself from a scam is to learn how to uninstall or deactivate them. The benefit of learning about spyware is if unfortunately, you fell a victim to this shameful act then you can get out of it easily. A lot of information is available on the internet I this regard search and learn now.

Online banking scams are no doubt increasing and you are at risk of this worst act. But do not be worried just take safety measures and you can avoid this scam safely. Keep all your documents safe and monitor your bank account transactions regularly. Banking fraud is another name of identity theft so by taking immediate steps you can avoid these two crimes. If you find this articles informative then share this information with your family and friends to ensure their bank account safety. Stay safe stay protected. I wish you good luck.

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