Gone are the days when we used to get salary cheques at the end or beginning of the month. Most companies and work institutions now credit salaries directly to our bank accounts.

These bank accounts are not only a space for us to save our money, but also offer financial safety and easy access to withdraw money with our debit and credit cards.

Bank accounts are great tools to manage your finances. 

You no longer need to fear thieves and burglars stealing huge amounts of cash from your home. Instead, you could sleep assured knowing that your money is safe in your bank account.

But is it always like that?

Is your money really safe in your bank account all the time?

Has it ever occurred to you that just like any other tool or device, for instance, a computer system, your bank account needs protection as well?

Indeed, you must have thought that if my money is in the bank, they must have high security of their own. 

Of course, they do! 

However, your money can still get stolen.

No, we are not talking about masked robbers looting banks at gunpoint. Rather, we are pointing towards hackers and fraudsters who hack into your account using several techniques and tricks and drain out your precious money.

Types of Bank Account Scams and Fraud

Here’s a listicle of bank account scams and fraud you need to be aware of and prepared for:

Unexpected cheque fraud

Ever got a cheque that you weren’t expecting in the post? It could appear like a rebate check or a reimbursement for an overcharge. Examine the cheque cautiously for any fine print or terms and conditions on the front or back. 

By signing and cashing the cheque, you could be entering into a legally binding agreement. Fraudsters use tricks like this to persuade you to approve subscriptions, loans, and other long-term agreements that could empty your pockets.

Scammers expect you to take the cheque as free money and cash it. If you receive a rebate or refund cheque you weren’t expecting, be cautious about cashing it.

Scams involving automatic withdrawals

Automatic withdrawals are a fantastic solution to regulate your funds, make payments, etc. Scammers, too, love automatic withdrawals, but for different reasons.

Here’s how it works.

You’ll get a phone call informing you that you’ve won a special offer or prize. The scammer’s goal is to obtain all of your bank account information. Once this is accomplished, the scammer will place it on a demand draft that does not require a signature and have it processed like a cheque.

When your bank receives the draft, it will transfer funds from your bank account to the fraudster. If you do not pay attention to your everyday banking activities meticulously, you may miss the fraud until it is too late.

Frauds involving phishing

Scammers use texts and emails to deceive people into giving over personal and sensitive information in the case of phishing. 

Passwords, account numbers, identity numbers, account numbers, and other personal information are among the data they seek. Their objective is to access your personal accounts, such as bank and email accounts.

Phishing scams are popular because fraudsters can reach many people via phone calls, email, and text messages. Phishing emails and messages usually appear to be received from well-known companies. Generally, they urge you to click on a URL link and complete an activity to verify your personal details. 

The message or email may even mention unusual activities on a personal account.

OneAssist Will Give Your Bank Account Utmost Protection

If you’re lucky, you won’t fall for these frauds and scams.

But you never know!

What if you become a victim of automatic withdrawal fraud?

No, we are not trying to scare you, but asking you to be cautious because a stitch in time saves nine.

When it comes to the money you’ve worked hard for, you must not take any chances with it. 

That’s why OneAssist has come up with a solution for you!

With our FinProtect plans, you can monitor ALL bank accounts, email Ids, credit and debit cards, govt Ids, and phone numbers.

But that is only the tip of the iceberg!

The FinProtect plans offer several other benefits also at a very reasonable price.

Give your financial assets the much needed protection they deserve with  OneAssist!