Fraudsters are continuously looking for and finding ways to take advantage of the security risks inherent in online banking.
One of the main risks is something called an "account takeover." This fraud occurs when an unauthorized person obtains access to your bank accounts, usually through your login information. Once they have control, fraudsters can easily transfer or wire money out of your accounts and into their own.
This is a problem that isn't going away and in fact is growing. Account takeover fraud rose from 380,000 reported cases in 2017 to 679,000 cases in 2018.
Rather than giving up the convenience of online banking, there are many things you can do to protect your valuable information, spot an account takeover attempt and protect your money.
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