Online Money Hacks – hacked Bank account 2020

Online Money Hacks – hacked Bank account 2020
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If you are active on social media, you’ve probably tried a “life hack” at some point. Life hacks are little things you can do to make your life easier. For example, tying a small piece of bright-colored fabric to your luggage makes it easier to tell which bag at the airport. Life hacks are great, but do you know what’s even better? Money hacks! Money hacks not only make your life easier, but they also help you save your hard-earned cash.

Money Hacks Worth Trying

Money hacks can be anything from saving your spare change in a piggy bank to skipping your morning Starbucks run and making coffee at home. Small money hacks will help you save a little bit of money, but if you’re looking to save in a big way, try these money hacks from  SPY24  and from your very own First Bank.

Borrow against your home’s equity. This money hack is specifically for homeowners, but it’s useful to know if you are ever planning on buying a home. If you find yourself needing a personal loan for a large amount of money, it might be better to borrow money against your home’s equity. Since you already have been approved for a mortgage the loan application process will typically be easier. Another benefit is that interest payments on home equity lines of credit are typically tax-deductible, unlike interest paid on personal loans. Consult your tax advisor for details on the deductibility of interest.

Pay insurance premiums once a year. You’re probably currently making monthly payments for policies like life insurance and auto insurance, but it isn’t required that you make your payments that way. You can opt to pay your insurance policy in one lump sum, which can save you money in the long run. Paying by the month may be convenient, but insurance companies typically charge a courtesy fee.

Fun Tips to Save More Money

Try a service contract. Instead of shelling out hundreds of dollars for a car or home repair, offset the costs by considering monthly payments for an auto warranty or home protection plan.

Stay cool. Preserve the longevity of your batteries, hosiery, and candles by storing them in your freezer.

Raise a glass to energy savings. Cooking for two? Save energy by microwaving both bowls at once. Just place a glass underneath one to cook both dishes evenly.

Go bananas. Don’t let those extra bananas you dutifully planned to eat for breakfast for the week rot and go to waste. Repair minor scratches on CDs and DVDs by rubbing a banana on your disks.

Whether you’re crowding your freezer with stockings or changing the way you pay insurance premiums, it saves to plan ahead and get resourceful. Want to learn more about how you can save money? Contact or visit a First Bank branch near you.

To learn even more about First Bank, check out our financial education and wellness resources, or browse the First Bank website to get a sense of the many products and services it offers.

hacked bank account

Recover from a hacked online bank account

Cybercriminals are typically financially motivated and getting access to an online bank account is the crown jewels for many. If you have noticed suspicious transactions or activity on your online bank account you need to act quickly to limit the damage the perpetrator can do.

hacked bank account

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. Even if no money has been taken your bank will take action by changing your security details and canceling your cards.

Change your login details - if you are still able to login to your account then follow the normal procedure to reset your password and other security information. This should lock the criminal out of the account.

Contact the police - report the crime to Action Fraud or Police Scotland. They will log the crime and give you a crime reference number.

Am I going to get my money back?

Your bank should refund any money stolen from you as a result of fraud and identity theft. They should do this as soon as possible - ideally by the end of the next working day after you report the problem.

If the bank thinks you might have acted fraudulently or were negligent, they can delay the refund while they investigate - this shouldn't take more than a few days.

If you were tricked by a criminal into transferring the money into another account then the bank is unlikely to refund your money.

If the bank won't refund your money, you'll only be able to get it back by taking the person who stole it to court.

Approaches to dealing with a hacked online bank account

Once you have spoken to your bank, reported the crime to the police and changed your login details consider these additional steps:

Check your transactions, payees and direct debits - have a good look through your account and look for any changes that have been made. Take a close look at your statement, any new payees created and review your direct debits.

Review security settings and information - many online bank accounts provide a list of latest activity on the account as well as a list of recent logins and connected devices. Review these and make sure this is nothing suspicious since you have taken back control of the account.

Scan your devices for malware - there are a number of ways the perpetrator may have got your login details - from a past breach (you can check known breaches here), guessed it, seen you type it in, tricked you into sharing it online or you may have told them in the past. However, they could also have malicious software on one of your devices that gives them access to what you type into websites. Scan all of the devices you use to access your account with an anti-virus solution and remove any malware.

Monitor - keep a close eye on your account for any suspicious activity and it is worth checking your personal credit report as the criminal may have stolen your identity to take out other financial products. You can check your personal credit report with one if the three credit reference agencies: TransUnion, Equifax and Experian.

How do I avoid my bank account being hacked in future?

There are a number of ways you can reduce the risk of bank fraud:

Keep your cards and financial details safe - try and keep your card in sight when making a transaction. Sign new cards as soon as they arrive and destroy old cards by cutting through the magnetic strip and chip. Keep your financial documents safe and use a shredder to destroy them when you don’t need them anymore.

Secure your PIN - memorise your PIN and destroy the letter sent to tell you your PIN. Make sure you are the only person who knows your PIN and make sure nobody can see you enter it at ATMs.

Only visit your online bank account by typing in the address into your web browser - never follow a link in a text or email.

Get good at passwords - use strong password, use different passwords on each site, never share them and change them regularly. Use a password manager app to help you do this. See some good guidance here.

Commit to two-factor authentication - two-factor is a way to improve your security drastically in one east step. Use it on every site that offers it. You can get more information here.

Review account security settings - all social media accounts offer a range of security features such as log in notification, secure browsing and two-factor authentication. Review these settings and turn all security options on.

Be careful clicking or downloading - tricking you to share your password by sending you trick emails or texts is a really common way to have your passwords stolen. As is downloading attachments in email that contain malicious software. Be extremely careful when clicking online links or opening/downloading online attachments.

Get secure - take time to improve your general online security. Use sites like Get Safe Online and Cyber Aware to understand what good security looks like and make changes.

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