Banks are a big target for cybercriminals. A successful hack means a big payday, but it isn't a victimless crime. Account holders like you are the victims, and a suddenly empty bank account can mean the difference between having a roof over your head and living on the street.

It pays to be aware of what is going on with your finances.

Here's how to spot if your bank account has been hacked, and how to stop it happening.

5 Ways You Can Tell If Your Bank Account Has Been Hacked

Banks around the planet are hacked daily. Bank accounts have always been attractive to thieves. Networks and security are only the virtual bricks, padlocks, and vaults that secure our money. Once they're broken or bypassed, your savings and earnings are up for grabs.

So, what can you do about it? Well, it's a good idea to be familiar with the methods used by online criminals to hack your bank account.

  1. Small unexplained payments
  2. Unexpected notifications from your bank
  3. A call claiming to be your bank demands information
  4. Large transactions empty your bank account
  5. You learn your account has been closed

Concerned your bank account has been hacked? Let's look at each of these five tell-tale signs in more detail.

1. Small, Unexplained Payments

Has your bank account been hacked?

Online banking thieves don't want to alert you or the bank to unusual activity. If this happens, they've wasted their time. So, they start off by making a small, innocuous online purchases, perhaps for just a few dollars.

This shows the hacker that your account is working and has credit.

If you spot small, unusual payments out of your bank account, alert your bank immediately. You should also set up SMS alerts to ensure that you get regular text statements and transaction notifications. Most banks offer these---if yours doesn't, switch banks.

2. Your Bank Sends Unexpected Notifications

Those SMS alerts can be configured to help you keep track of incomings and outgoings from your bank account. There's usually a weekly statement option, too, and email notices can also be set up.

Checking these notifications will help you stay aware of what payments are being made. If a suspicious-looking outgoing is reported, follow it up. Similarly, if your bank contacts you to report a change to your username, password, or personal details, act fast. This is a key sign that someone is attempting to gain access to your bank account.

Urgently contact your bank to stop the hack.

3. Your "Bank" Calls You and Requests Account Details

Think no one can hack your bank with just a phone number? Think again.

Smart bank thieves can use your phone number, call you, and pose as a bank employee. If you're caught out by this, they could successfully gain access to your account. All it takes is for you to innocently hand over your account number, username, password, and any other relevant credentials.

Seconds later, they're emptying your bank account.

Your bank should never call and request personal details from you. Should a bank call you, take their name and number, then hang up. Check the telephone number online to verify its authenticity (or otherwise) then call back if you're satisfied.

If not, use your bank's main public number to report the incident to the relevant department. They can then take steps to protect your bank account further.

4. Large Transactions and an Empty Account

Learn how to spot if your bank account has been hacked

Is your bank account suddenly empty? Large transactions will follow if you haven't already taken steps to stop your bank account being hacked.

It depends on how confident the thief is about your ability---and your bank's---to spot suspicious behavior.

If you didn't spot the small amount of money vanishing from your bank account, you'll almost certainly have noticed this. But you're too late.

5. Your Account Is Closed

It's unlikely that you'll experience this, but it has happened. People learn months down the line that their bank accounts---typically savings accounts rather than current/day-to-day accounts---have been emptied.

When these victims find out, it's often with a letter from the bank, who announce "we're closing your account." The reason they give is simple: your account has beemn empty for some time.

You do not want to find out too late that your money has been stolen. Regularly checking your accounts online, or simply reading your bank statements (rather than filing/binning them) will stop this from happening.

Your Account Is Hacked: What Does the Bank Do?

Whether you've lost a few dollars or your entire balance, your bank must act. If one account has been compromised, others may also be at risk (if they're not already empty). It's in the bank's best interest to help you, both legally, and as public relations to retain your custom.

In the US, federal regulations mean that banks must protect accounts to some degree. If your bank has federal deposit insurance then they can cover up to $250,000 of stolen funds.

5 Steps to Stop Your Bank Account Being Hacked

As impressive as this amount is, your bank might contest whether they should replace stolen funds. In short, your bank is blaming you for your account being hacked.

To avoid this from happening, begin using online (and offline) banking in a more secure way from today:

  1. Keep your ATM card secure. This isn't just about keeping your card in your pocket. Keep it in a secure, RFID-proof case. These small cases restrict RFID signals, meaning that your ATM card cannot be cloned remotely.
  2. Avoid accessing your online bank account via public Wi-Fi. Always use your mobile internet connection, or for locations where this isn't possible, employ a VPN service. A virtual private network will create an encrypted route for your data---see our list of top VPNs for more details.
  3. Don't click on links in unexpected SMS or email messages claiming to be from your bank. Spoof websites are used in the process known as "phishing", whereby victims are conned into giving up their personal details. If you receive an email, delete it, then open a fresh browser window and sign into your online bank account. Legitimate messages will be found here.
  4. Use a stronger password or employ two-factor authentication (2FA). Preferably, you should use both. Most banks now insist on 2FA for online banking.
  5. Keep your desktop and mobile operating systems up to date. The same also applies to web browsers. Additionally, avoid installing apps and browser extensions from third party sources.

Beat Fraud and Keep Your Accounts Safe

Defeating online fraud is largely about awareness. If you don't know what is going on with your bank account, there is a risk that someone will empty it. While banks have strong systems in place to prevent fraud and theft, unfortunately these systems often fail.