Last year, Tesco Bank reported that £2.5 million was stolen from 9,000 accounts by cyber criminals. Some customers received text messages from the company in the early hours, warning them of fraudulent activity on their account.
The bank temporarily suspended online payments of 20,000 current account customers. No personal data was stolen and all affected accounts were refunded.
So, with this in mind, would you know what to do if you got a call from your bank or your mobile phone provider to inform you that your account had been hacked by cyber criminals? What if you'd lost your wallet at the cinema or were pick-pocketed on a train?
Protect yourself from fraud by following these 7 things you should do if your bank gets hacked:
- ACT FAST - It's vital to protect yourself and act quickly. Don't shrug it off or ignore it.
- Contact your card issuer or bank - To notify them of the loss or that your information has been compromised.
- Change your banking password - CyberAware, the government's cyber security campaign, encourages us to use three random words #thinkrandom.
- Monitor your accounts for suspicious activity - If you notice irregular payments, inform your bank immediately.
- Look out for suspicious calls, texts, tweets and emails - Particularly from people claiming to represent your bank or card company, the police, your broadband provider, etc. Note: your bank and the police will never ask you to transfer money to a 'safe account' or to ask you to confirm your PIN or password.
- Get a copy of your credit report - From a reputable credit reference agency. This is one of the best ways of telling if someone else is impersonating you. Check each entry and notify them if you see anything you don't recognise.
- Think about taking out Protective Registration (PR) - This is an additional protection offered by CIFAS to prevent fraud. A warning flag is placed against your name, telling companies that use CIFAS to be extra vigilant when your details are used and to carry out extra checks.