Hacked online bank account - Do this first! Contact your bank immediately - call your bank as soon as you spot the suspicious activity - the number will be on your bank statement, card or the bank's website. If money has been taken they will protect your account and make sure no more money can be taken.
Do you get your money back if your bank account is hacked? Generally speaking, yes – you will get your money back. However, you need to report fraudulent charges and transactions straight away. The longer you wait, the more your maximum liability goes up.
Banks are liable
If you report a charge within 48 hours, you could be responsible for up to $50, or up to $500 if you wait longer than two days. Beyond 60 days, your bank is no longer responsible for the lost funds and you might be out any money that was stolen.
There are several ways that scammers can gain access to your online bank account. They could use phishing attacks, malware or other cyberattacks, or buy your credentials online after a data breach. For example, the Michigan-headquartered Flagstar Bank was the recent victim of a data breach.
Step 1: Change your passwords
On accounts or devices that contain sensitive information, make sure your password is strong, unique—and not easily guessable. Adding your birthday to your mother's maiden name won't cut it.
What to do: Contact your mobile carrier and ask them to “lock” your account with a PIN or security question. Change your SIM card's default PIN to protect it if your device is stolen. Here's how to change your PIN on iOS devices (iPhone and iPad) and Android devices.
First let's clear up one myth - giving out your bank account number and BSB is fine. "There is no issue in giving out your BSB/account details as it's only possible to deposit funds rather than withdraw funds," an ING spokesperson told Money. "If an unauthorised debit occurs then the debiting institution is liable."
Generally, providing your BSB and account details to suppliers is safe, as the details are used to deposit, rather than withdraw, funds. However, there's a possibility that your details may be used to set up direct debits if the debiting business doesn't verify ownership of the account with a signature or ID.
The easiest way to become a victim of a bank scam is to share your banking info — e.g., account numbers, PIN codes, social security number — with someone you don't know well and trust. If someone asks for sensitive banking details, proceed with caution.
Also known as automatic withdrawal scams, these involve unauthorized withdrawals from your bank account — typically checking accounts. Scammers get access to your bank account numbers through fraudulent telemarketer calls or by stealing them from unsecured websites when you sign up for a free trial.
When a scammer has your bank account and routing numbers, they could set up bill payments for services you're not using or transfer money out of your bank account. It's tough to protect these details because your account number and routing number are printed right at the bottom of your checks. But do your best.
It's also possible hackers could use your email account to gain access to your bank account or credit card information, draining funds from an account, or racking up charges. They might even use your email and password to sign up for online sites and services, sticking you with monthly fees in the process.
Contact your bank immediately to let them know what's happened and ask if you can get a refund. Most banks should reimburse you if you've transferred money to someone because of a scam. This type of scam is known as an 'authorised push payment'.
You are likely to get your money back if it is still in the recipient's account and if you report it to your bank: within 10 business days.
No. Unless you give out your account number, banks do not release information regarding your bank statement to unknown third parties without your consent.
Fraudsters can use all kinds of methods to find your personal or banking details. If they get hold of them, they can try to use your bank account to steal your money. Or they could try to scam you at a later date.
You can visit your bank and fill out a form with your account information and amount you want to take out and present it to a teller. Work with a bank teller.
Contact your bank immediately so they can protect your account. After you've told your bank about the scam, keep an eye on your bank statements and look out for any unusual transactions.
It's generally considered safe to give out your account number and sort code, but you should always use common sense and avoid sharing your bank details with people you don't know or expect payments from.
Performing a bank transfer with a stranger can be risky and potentially unsafe. It is important to exercise caution and take appropriate steps to protect yourself from potential fraud or scams.
Stolen personal information is fuel for identity theft
Many online services require users to fill in personal details such as full name, home address and credit card number. Criminals steal this data from online accounts to commit identity theft, such as using the victim's credit card or taking loans in their name.
Notify law enforcement.
Call your local police department immediately. Report your situation and the potential risk for identity theft. The sooner law enforcement learns about the theft, the more effective they can be.
Anxiety, Depression, and PTSD
There are examples of people losing their jobs, marriages, and even taking their own lives after being hacked. One of the biggest contributing factors to victims' distress is the feeling of hackers violating them. Some victims have even described the feeling as similar to a sexual attack.