Scam Proof will show you how to avoid internet scams so you can keep your money safe. Read more

An account takeover is when a scammer seizes control of an online account, changes information such as the username, password, mobile number or other personal information, and then makes unauthorized transactions with that account.

 

How this could happen

 

1: Contact

You are contacted by someone who is supposedly a bank representative, through email, SMS or call. You are asked to provide some personal and financial information, either for an account update or to verify your identity.

2: Belief

Because you’re convinced that it’s real, you provide your account details.

3: Reality

The scammer now has your account details and login credentials.

4: Result

The scammer uses your debit or credit card or online banking to make unauthorized transactions.

 

Read more about how to avoid being a victim of an account takeover and other scams in our tips page.

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