How To Protect Your Bank Account
Online banking, while convenient, comes with cybersecurity risks. Bank accounts are susceptible to account takeover attacks, which happen when a hacker gains access to the account and changes the credentials. This prevents the account owner from accessing their bank account and allows the hacker to make unauthorized purchases or access other, linked accounts. According to the American Bank, account takeover fraud is expected to cause losses of more than $343 billion worldwide between 2023 and 2027.