Thread by @J_teapot

How the Banks are aiding Fraud

Hackers are not that smart, they are opportunist, social engineers who uses information they have or know about you to defraud you.

So what are the info needed for anyone to access your bank account and steal your money? @yinkanubi THREAD

I will list these below and also tell you where the info can be accessed with little or no stress at all:

1. Account number - your bank sends this info out on the open internet everyday; the last 4 digits of it, as many times as you do a transaction on your bank account

2. Account Name - you bank sends this info out same as above
3. Available/Ledger Balance - same as above, your bank sends this out too. We will come back to how this help with the stealing
4. The bank also publish the branch, transaction amount and date/time

5. Your full name is out there on social media right? Alongside your date of birth (remember when every one joins in wishing you a happy 50th, 40th, 25th birthday?) @yinkanubi

6. Now your phone number, remember where anyone might be able to access your phone number? Which of the social media has your phone number on it? Think - can someone search true caller with your name? Will this cede your number? @yinkanubi

7. I now have all the info I need, I just want some validation. How about I give you a call and get you to confirm your name? And intentionally get other details wrong or need you to validate @yinkanubi

8. Also, don’t forget that I now know how much you have in your bank; point 3 above. The smart ones will take over your account by hijacking your mobile phone, register a new phone with your details and that gives the control of your electronic/digital image @yinkanubi

9. They already know how much you have and when they can strike, largely thanks to you and your bank. END