HAS YOUR BANK ACCOUNT BEEN HACKED? WHAT NEXT?

Experiencing the sinking realization that your bank account may have fallen prey to hackers is undoubtedly distressing. Yet, in the digital age we inhabit, this unfortunate reality can affect anyone. The key is to remain vigilant and take quick action as soon as you detect fraudulent activity on your bank account. By taking quick action, you can reduce the harm to your bank account and hopefully keep your money out of the fraudster’s hands.

7 Signs of a Hacked Bank Account

Here are 7 signs indicating that your bank account might have been compromised, followed by 6 proactive steps to regain control of your bank account, and 10 preventive steps to fortify your account against future breaches.

Signs Your Bank Account May Have Been Hacked

Deactivated Debit Card: If your debit card is declined unexpectedly, it could signal that hackers have closed your card and requested a replacement.
Account Password Change & Lockout: Discovering that your bank account password has been changed without your knowledge or permission is a clear indication of unauthorized access. Often, identity thieves change account passwords, so the accountholder no longer has access to view unauthorized account activity.
Bank Account Funds Depleted: A sudden depletion of your bank account balance, especially to a zero or negative account balance, suggests unauthorized transactions. If your bank account was drained by unauthorized transactions, then your bank account may have been hacked.
Hijacked Communications: Do you usually receive your bank statements by email? Have you stopped receiving statements your bank? Ceasing of regular statements while other communications remain unaffected may indicate tampering with your contact information by a fraudster.
Unauthorized Transactions: Unusual withdrawals or transfers, particularly in irregular increments, point to potential hacking.
Strange Activity Notifications: Notifications from your bank reporting suspicious activities, such as failed login attempts or unfamiliar transactions, indicate your bank account has been hacked.
Account Closure or Freeze: Unexpected closure or freeze of your account without your authorization warrants immediate investigation into potential hacking of your bank account.

Steps to Take if Your Bank Account Has Been Hacked

Reacting promptly and methodically is crucial when faced with a hacked bank account. Here’s what you should do:

1. Contact Your Bank: Reach out directly to your bank using the official contact details to report the breach and seek assistance, possibly involving the Fraud department.

2. Deactivate or Freeze Card: If only your card is compromised, swiftly deactivate or freeze it to prevent further unauthorized transactions.

3. Secure Online Accounts: Change passwords from a secure device, and ensure your associated email isn’t compromised. Consider utilizing a password manager for robust security.

4. Freeze Your Credit: Take proactive measures by freezing your credit with major bureaus to prevent unauthorized credit-related activities.

5. File Identity Theft Reports: Lodge reports with local authorities and the Federal Trade Commission (FTC) to document the incident and aid investigations.

6. Dispute Unauthorized Charges: Initiate the dispute process with your bank within the stipulated timeframe to maximize chances of recovering lost funds. Sample Dispute for bank account errors.

Preventive Measures to Safeguard Your Bank Account

Shield your bank account against potential hacks with these proactive strategies:

1. Opt for Paperless Statements: Minimize exposure to mail theft by switching to paperless statements. Mail theft still remains one of the number one forms of low-tech identity theft.

2. Utilize Strong Passwords: Employ unique and complex passwords for enhanced security, and refrain from password reuse across different accounts. Consider employing a reliable password manager.

3. Enable Two-Factor Authentication: Add an extra layer of protection with two-factor authentication, bolstering your account’s defenses.

4. Regularly Review Bank Account Statements: Stay vigilant by routinely reviewing bank statements to detect any anomalous activities promptly. If you do not review your bank statements, then you will not be able to identify unauthorized charges.

5. Set Up Bank Account Alerts Leverage: Banking alerts for transaction thresholds and balance notifications to stay informed of account activities.

6. Monitor Credit Reports: Regularly check your credit report for discrepancies and swiftly address any inaccuracies. Order your free credit reports HERE.

7. Track Credit Score: Keep tabs on your credit score to detect any suspicious fluctuations, as some credit card companies offer this service for free to account holders.

8. Beware of Phishing: Exercise caution against phishing attempts by refraining from clicking on suspicious links or providing login credentials through dubious emails.

9. Install Antivirus Software: Safeguard against malware and phishing attempts by deploying robust antivirus software across all devices.

10. Stay Informed: Remain vigilant and educated about evolving cybersecurity threats to adapt and protect your finances.

By implementing these measures proactively and remaining vigilant, you can significantly reduce the risk of falling victim to bank account hacking, safeguarding your financial well-being in the process.

Has your bank account been hacked?

The Adkins Firm represents identity theft victims. We help our clients clear their names and recover their money from unauthorized transactions on consumer bank accounts. Do you have unauthorized transactions on your bank account due to fraud due to fraud? Has your bank account been hacked?

Have you disputed the unauthorized transactions and your bank verified you made the transactions? If you answered yes, then you may have a claim under the federal Electronic Funds Transfer Act. Please note, there is a statute of limitations that may bar you from recovering for your damages. Don’t wait!