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    How cyber criminals are using online banking fraud?

    Online banking is popular among scammers. Using various methods; criminals have an easy time of it and can clear the victim’s account. This is the fraud that is related to help to get hacked. Unfortunately, it is very difficult to identify an online banking fraud. You often only notice this when you check your account balance and determine the missing amounts. Some Trojans even show you incorrect account balances, so the fraud will only be noticed much later.

    The websites and emails that cybercriminals use as their data fishing are becoming more sophisticated. Noticeable spelling mistakes or poor designs by the respective banks are a thing of the past. The counterfeit products hardly differ from the originals, which is why you don’t notice it directly if you succumb to fraud. Viruses are used to ensure that the wrong website is displayed to you as an internet user, even though you have entered the correct address. Your access data will also be intercepted here.

    According to Statista, the online fraud amount that has been lost by Americans in 2015 is 1.1 billion USD, and it reaches 3.5 billion USD by 2025. More than 82% of companies have fallen prey to this card fraud, and the amount of loss is increasing with every year passing by.

    Phishing Scammers Attempt Identity Theft

    For this purpose, you as a customer get fake emails or websites from online banking, on which you enter your access data. The pages or emails are modeled on those of the banks in design and presentation. Good counterfeits can hardly be distinguished from the original. However, you do not enter the data at the bank, but they reach the fraudsters.

    It is also important that you always provide your PC or smartphone with the latest updates and a good antivirus. Another requirement is the use of an encrypted WiFi network. For this reason, a public network is insufficient for online banking. According to a survey by Bitkom Research, 50% of public WiFi hotspots for their banking business despite this significant weakness. In addition to the self-evident rules of conduct, there are also methods that support you technically, especially for online banking.

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