Diversify bank accounts or hackers steal your money. Or they are already stealing …
Dangers lurk at our every corner. And only reasonable diversification, as insurance, is able to protect them from loss.
Once I went on a tourist trip. Nothing serious: Europe, attractions, a little shopping. The trip would not be worth your attention if it were not for one event: the main credit card was blocked.
A call to the bank explained the situation: there was a perfect mass hacker attack on the cards of a certain issue month. Millions of euros are missing. And to protect the others, the bank decided to freeze the old cards and issue new ones in return.
Personally, I was lucky and I lost only the opportunity to buy a new Berbury scarf. To others, fate did not smile: it was about a hundred million euros that hackers pulled together.
Offshore and Banks attack hackers: to accept or defend?
Hackers – a new threat to your financial security
Hacker attacks occur around the world. Behind them are both public interests and private initiatives. Break-ins and thefts occur constantly and losses amount to hundreds of millions and even billions of rubles, dollars and euros.
And I’m not talking about petty hooligans who steal your credit card or copy it with the help of special devices. We are talking about large-scale attacks directly on processing centers and banks.
There is no 100% protection from hackers in your bank account. There are countries where the quality of asset protection is even lower than in others, partly due to poor IT protection.
And sometimes even the most cleverly contrived methods do not save from a thought-out operation to extract money from other people’s pockets.
By the way, this is why it is already worth exploring the possibility of opening at least one foreign account, and preferably several and far away from each other.
Not only private banks are subject to hacking, but also the central banks of the states. How do you like the news that hackers broke into the central bank of Bangladesh and stole 100 million? You say that Bangladesh is not like the United States, Europe or even Russia and you will be right in many ways. In addition to the banking sector.
A reliable foreign account is needed: hackers are attacking Russian banks
Banks are outdated and defenseless
Bangladesh, like Russia, and many other countries, uses a transmission and protection system called SWIFT. This is a special bank protocol that conveniently and comfortably allows you to transfer money from one bank to another.
And he is considered extremely reliable. But, firstly, it is being hacked, and secondly, it is worth knowing this: it is outdated.
It is certainly better than the standard ACH, which is lower, but still: to use the protocol, you need a computer based on the Windows Vista operating system. For those who accidentally missed the news: Vista is considered to be one of the strangest and most unreliable operating systems of Microsoft, and, drumming, it is no longer supported.
In other words, all errors, glitches and gaps in the protection of a Windows program can be used to break into and penetrate the very SWIFT and saints-saints of any bank – its “banking core” or database that stores data about all users and all cash translations.
It should be said about the system ACH – it is actively used in the United States. You have probably heard that within the United States, bank transfers usually take 48 hours. This is precisely the merit of ACH – this is an outdated format, which is based on the earliest technologies in the banking sector.
Imagine that you are trying to run a modern Word on a calculator from the time of the Cold or even the Second World War. It’s almost the same here.
Of course, it is easier to break the old system, even the one that has overgrown with various crutches and supports, than it was designed from scratch, taking into account the modern realities. And it is actively used.
For what you end up paying in one way or another: either your money goes into the hands of criminals, or the bank raises commissions to cover its losses, or a financial institution stops work and you have to look for a new place and, possibly, new money.
And banks do not seek innovation. They are afraid of new misfortunes, they are learning blockchain and other technologies, but they don’t rush to protect their own and your assets from hackers.
This is a new reality – not to hide from it. And it must be considered.
Total control and the end of confidentiality: the CIA monitors us through phones, televisions, computers
Diversify bank accounts
Hackers can do amazing damage. But most of the loss of money is most often associated, if you think strategically, with a lack of planning, diversification and sometimes patience.
First, hackers often use personal information that we post without social thinking on social networks. According to our photos, tags and friends, you can make an impression not only about lifestyle, but also about potential profits for fraudsters.
Secondly, storing eggs in one basket is also unprofitable, like hundreds of years ago. Instead of eggs, money is now in bank accounts. Therefore, intelligent people diversify risks and open foreign bank accounts: one in Europe, the second in the Caribbean, the third in Asia.