Bank robbery in silence: old method, new warning

The underestimated risk factor: Documentary transfers

Bank robbery: In rare cases, fraudsters can still steal money from your bank account using an old method: They fill out and hand over a transfer form - a paper form like that - with your name, your account number (IBAN and BIC) and a signature at the bank. The signature doesn't even have to be real; sometimes banks don't check so closely for small amounts.

Fraud does not necessarily have to be digital. Even in the shadow of cybercrime, the misuse of paper transfers remains a relevant threat to bank customers. This article highlights a method that allows fraudsters to steal money from accounts without being noticed and shows you how you can protect your account from it.

The bank robbery method: As simple as it is effective

Fraudsters do not need sophisticated technology to carry out this type of bank robbery. Instead, it is sufficient to use paper transfer forms that contain the account holder's basic data and are submitted to the bank. It is amazing that this simple technique still works through minor checking mechanisms at banks.

Safeguards for your account

To protect your assets from bank robbery attacks, you need to be careful. Only share personal banking information when absolutely necessary and keep your banking records safe. Consider having your bank block paper-based transfers to prevent such transaction orders from being processed. It is also advisable to take a regular look at your account statements in order to identify any abnormalities promptly.

How banks and customers react to the bank robbery

Banks are strengthening security measures: external drop boxes are being abolished, receipts are only available at the counter, and signatures are checked more closely for larger amounts. In the event of fraud, the bank has a good chance of refunding the money, as long as the signature on the transfer slip was not obviously forged.

Conclusion: Old fraud techniques require new vigilance

It is crucial not to focus solely on digital security. The misuse of paper transfers requires increased attention and prevention. By adopting best security practices and using the services your bank offers, you can protect yourself from the unnoticed loss of your money.

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