Every 3 seconds, an identity is stolen on the internet!

by Patrick Müller

22.06.2023

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Every 3 seconds, an identity is stolen online! This was the teaser for the event "Cybercrime - How to protect yourself and your assets from hacker attacks".

Yesterday, I had the opportunity to switch roles from being a fraud fighter and gain insights at my bank's customer event.

The event provided insights into attack vectors and defense strategies in the banking sector. I learned that there is a significant overlap between the preventive measures against hacker attacks on banks and their clients, and the measures to prevent CEO Fraud, which is currently my main focus.

The core of the attacks in both cases revolves around identity theft, leading to similar preventive measures.

Some security tips for online banking:

For emails:

Check the sender and links to detect fake sources.
Don't be pressured by time. Urgency is a warning signal! Banks plan for customer vacations and absences when contacting them.
Do not respond to emails or click links. Always access the relevant online portal through your known source. If any action is required, you will usually be prompted after logging in.

For websites:

URLs in phishing emails are often deceptively fake and checking them can be time-consuming. So:

Bookmark URLs for online banking.
Ensure the URL uses an encrypted HTTPS connection. Unencrypted HTTP without the 'S' is not enough.
Always use your browser's bookmarked link for banking, not the link in the email.

For login credentials:

Never reuse passwords.
Use strong passwords. Length is more important than complexity.
If using many long and complex passwords, consider a password manager like NordPass.
Always enable two-factor authentication.

Trust is good, verification is better!

Actively search for your data online.
Password managers like NordPass can also scan stored data.
Additionally, check data leak databases like Have I Been Pwned or Leakchecker by University of Bonn for your data.

My conclusion:

Bank fraudsters are just as lazy as CEO fraudsters and won’t exert more effort than necessary!
Simple measures address multiple attack vectors.
The information from corporate IT security trainings can also be applied in personal life. The bank tips for individuals can also be transferred to your daily work in the company or other systems. -> Win-win!