Cyber Bank Account Thieves: How Do They Do It

There have been a constant war in the cyber world and it concerns many of our fellow citizens. Most of Americans use the World Wide Web to do things easier. They use it to communicate, purchase, do business, deliver, and even call. We also use it to manage our finances. Online billing has been such a trend since we can go to our computer to supervise our money. We trust the banks to secure them so we can continue living with the money we worked ever so hard for. But lately, there have been reports about people stealing online. They steal identity and they steal money.

Robbers have taken on the Internet to do their dirty deed. No more black masks, guns, profanity, pressure and get away cars like we see in the movies. Thieves have found a way to get money electronically without being caught and hardly being felt by those they are stealing from. So how is this happening? Do we have the right defenses for that?  Because for old school, we call the police and they can track down these robbers wit crumbs they left.

With the help of cyber experts and the authorities, we are able to determine how these people get into confidential information. First, they would need a set of prospects they can victimize. They want the ones that are active and are easy to get into. So, what they do, in order to find these, they go to other thieves that collect personal information. They buy what are called “leads”. These leads are tested whether it is feasible to make a transaction. Second, if they have studied this confidential information, they would now disguise themselves with viruses. They will infect your computer and then eventually confirming the information. With the mask of the virus, they will now make invisible transactions. They will get into your account, use your own information and start getting money from your account. Third, they will use accounts that they handle to make the transfer. They will use a fictional character to pose as the receiver of the money but most of the time; they also victimize other people and tricking them to participate in the act as instruments for transferring money successfully.

And with time, they grow more and more elusive. They develop hard wares and update them every time because they are keeping up with the latest defenses law enforcement and banks make to avoid them.

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