Is your bank account at risk? From 2015 to 2019, the Global banking fraud survey report shows that 152,595 fraud cases regarding money transfer service were found globally. It is the result of increased e-banking use. E-banking put consumer’s data and money at a risk of hacking. Whether you are in the UK or Europe, you can send money to Senegal, Nepal, Malaysia, Bangladesh or Turkey through various application software, e-banking, telephones, and bank visits.
Let us take an example of the money transfer to Senegal. The secure options after having a secure connection could be Xoom, PayPal, and ACE Money Transfer. The latter service is available in more than 100 countries worldwide. It provides a fast, easy and secure way of money transfer for the general public since 2002. A trustworthy online money transfer system is always desirable, and Ace Money Transfer has proved to be one.
Do You Have Understanding Of The Money Transfer Process?
Since the development of the internet in the last century, one thing came side by side: HACKING. We are living in the 21st century, and technology has grown itself in the fastest possible way. Internet banking is popular for a few years. Internet banking requires an internet connection. Internet connection needs to be secure and private enough to provide you with financial security. Just imagine, you had an online deposit, and after 5 minutes, you receive a notification regarding the withdrawal. How can you react? Yeah, a minor or major heartbreak can be felt. After the medical aid, you will go to the bank, but they will do nothing to get your money back. Sometimes, banks offer some compensation, or after confirmation, they can even provide a money-back service. Bank will update your security settings, for example, password and pin code.
Although the banks are improving their security plans from time to time, the hackers are always a step forward. This hacking does not occur by hammering the ATMs but behind the computer screens. They attack the specific internet cloud, gather the information or make some alterations. The result they get is access to the money transfer service. It is illegal, and if convicted of the crime, it can lead to fines, imprisonment or both.
How To Find Out A Reliable Money Transfer Company?
It depends on how much vigilant are you. Sometimes, you know, in seconds, and sometimes you can take months to figure out what happened with your account. Minor activity changes play an essential role. If the notification alert is on, it can help in finding out the scam. If the alerts on email, phone number and mailing address are on, finding out can be earlier. And when you find out, keep in mind that worldwide, it happens frequently. So, you are not alone in this.
Some researchers have shown that always keep your senses on while you are active on internet banking, online shopping, and even ordering food. Entering your sensitive data on websites always put you on the risk list. Make sure that the Wi-Fi you are using is secured publicly. Open Wi-Fi gives access to unknown computers. Hackers are mostly active at such public Wi-Fi and are found in search of the target.
- Some online shopping websites can be a fraud and just a way to know your ATM account’s passcode. Transactions should be monitored closely. If the cost you paid is a bit higher than the mentioned amount, there are chances that a hacker has that remaining money in his account. Well, the secure connection will increase your safe browsing chances to 70-80%.
- Do not forget to make sure your notifications for every transaction is on. Even the smaller unknown transactions can save you from future bigger transactions if you are notified on time. With the notification, the action is necessary too.
- Do not respond to any of the messages, emails, or calls you to get on the phone that addresses you by saying they are bank representative and need to deal with you. Whether they address the issue or not, they are mostly suspected of hacking tricks. Replying to the message and email can cause a hacker attack. Attending the phone call is another way of getting the information from your phone. Sometimes only the opening of the link provided in the email can cause real damage. After data stealing, it becomes a cake for scammers to get the money out of your bank account.
- A few cases have also been reported regarding that the ATM card has been blocked. It can dodge you, or it can be the automatic response when the hacker attempts to enter the pin code more than three times and fails.
- Never make your password an easy game for others, especially online hackers. Always try to use special instructions provided by the bank.
- Try to make your login attempts at personal internet connections.
- Notice if the login password has been changed or a security alert of login from an unknown address has occurred.
What To Do Next To Save Your Money?
The data shows that if you get to know your account has been hacked, instead of having panic attacks, try these steps:
- Keep an eye on the account activity from every end, i.e. email, login, phone.
- Keep noticing the online money transfer system. When you send money to Senegal onlineor make some online payments, you need to know how much you shared and how much the receiver has received? Online money transfer could be a lot painful if the hackers had access to the transaction as it can even create misunderstandings between the sender and the receiver. Make sure the online money transfer service you are using to send money online is time to time updated and ensures you the best about the privacy plans. One of the easiest and secure application software is ACE Money Transfer. This helps you send money to Senegal online and the rest of the developing countries.
- If you suspect a hack, do not hesitate. Just run to the bank and close your account or make sufficient changes to keep your account secure and fire a cyber-crime investigation service report.
Never enter your details on an insecure internet connection. Follow all the safety rules to keep your account away from hackers.