HACKERS WANT YOUR MONEY: Hackers want your identity, yes, but what they REALLY WANT is your MONEY. Most reports that you hear say that hackers open new bank accounts, or credit card accounts in your name — eg identity theft leading to fraud. But now the real threat is hackers stealing money directly from your existing bank accounts. They want your money — not just your identity.
WEAK PASSWORDS: I don’t want to belabor the point, but with modern high-speed computing power, hackers can break your personal passwords with relative ease. They get your identity — name, birthdate, social security number, names of family, and other personal details — feed this data into algorithms, and with high-speed computing can run millions of passwords in seconds. Most people make passwords from personal details; then passwords are repeated for several accounts; and many people use short passwords to help remember them. End result: EASY TO HACK — MONEY GONE.
MONITORING LOOKS BACK IN TIME: Identity protection has grown more sophisticated, but it aims primarily to stop fraudulent use of credit cards, to stop new accounts being opened, and to track activity looking for changes that may indicate fraud. Monitoring is effective, but looks backward and focuses on preventing new accounts from being opened. Increasingly, we need protection NOW on accounts we already have opened!
PROTECTION OF SMALL ACCOUNTS IS WEAK: If a hacker breaks into your bank account, there is little protection. Most law enforcement have few resources to chase “small cases of fraud”. Bank protection is minimal. When an account is accessed with a “legitimate” password, the risk falls on the account owner, not on the bank. Think about that!
STRONGER PASSWORDS: The best protection against the threat of hackers going directly into your accounts is far stronger passwords. The best way to create incredibly strong passwords is to use a system with very strong security that is easy to use. Go to my Courseware to see one such system: The Marshell Password System. It works.