Are You Victim of Online Banking Frauds?

Answer 1

If you’ve been a victim of online banking fraud, Solutions and Innovations can help you respond quickly and strengthen your digital defenses. We assist organizations and individuals in identifying how the breach occurred, securing compromised accounts, and implementing advanced cybersecurity measures to prevent future incidents. Through risk assessment, fraud detection tools, and awareness training, Solutions and Innovations helps you recover safely, protect sensitive data, and build long-term digital resilience against financial cyber threats.

Answer 2

Invariably online banking frauds involve the following two mechanisms:

1. The Cyber Criminal obtains the customer's online bank account access data, i.e. login name and password.
2. The Cyber Criminal uses this information to transfer money to other accounts and withdrawals the funds many times in the nature of Money Mule Transactions.

Commonly, the "over the shoulder looking" mechanism occurs when a customer performs financial transactions he is being observed by a Cyber Criminal or the device used for the credit card transaction stores the customer's account data and password.