It should come as no surprise to regular readers of Scamicide because I have been warning you about this for many months, that the American banking system is under intense cyberattack from cybercriminals intent upon disrupting our financial system.  These attacks could have a  profound effect on you if you do not take the proper precautions.  Recently the source of many of these cyberattacks has been traced to Iran and, due to the sophistication of the recent attacks, it is speculated that the attacks are part of a governmental effort against the American banking system rather than the work of just common cybercriminals.  This situation will get worse before it gets better, however there are some things that you can do to protect yourself.


Be a part of the solution and not a part of the problem.  Online banking is still the most safe way to do your banking, but online banking security starts with a secure password that is difficult for cybercriminals to decipher.  Don’t use any word that is in the dictionary.  Computer programs used by identity thieves can crack any such password in short order.  Use a mixture of letters and symbols, the longer the better.  Including signs that are easy for you to remember, such as $ or ! and in multiples as a part of your password can dramatically enhance the security of your password and your account.  Also, refrain from using public WIFI for financial transactions and when you do use WIFI, make sure your tablet, laptop, or smartphone contains the most up to date security and encryption software.  Also, keep hard copies and a USB flash drive of your banking records to help prove what you have in your account if you account is hacked.  Finally, when disposing of paper records of your bank account, make sure you use a cross shredder so that the records cannot be used to make you a victim of identity theft.