Bank of America’s online banking website crashed a couple of days ago due to the actions of hackers. The crash left online customers unable to access their accounts. A similar problem also has happened recently to online customers of BBVA Compass Bank. The problems were resolved after a few hours, but they serve as a reminder of my warning for the past few months that foreign hackers are targeting American banks for a major hacking that I predict will occur within the next six months.
Although the major banks that are most likely to be the targets are working on their security problem, the hacking into Bank of America is a good indication that they have not solved the problem and time is running out. As a customer, you are at a distinct disadvantage. The best thing you can do is to regularly monitor your account for fraudulent activity and to keep a regular paper update of the status of your account so that if computer records at the bank are damaged or your account is hacked, you will have a record of your account. You may also want to consider putting some of your money in a small bank or credit union which are less likely to be the targets of sophisticated hackers. Finally, it is a good idea to ask your bank what steps they are taking to protect the security of your accounts from hacking.