What is your bank doing to keep your cash safe? If you don’t know, now’s a good time to find out — and the more detailed the info, the better.
Why? Banks and brokerage firms are experiencing a bump in account theft of late.
Example: A hacker from New Hampshire recently made off with $112,000 from a dozen banks and brokerage firms by diverting the funds with Trojan horse software.
While many financial institutions have some generic measures in place to assure customers their funds are safe, it may be a good idea to dig deeper to be sure your cash is as safe as possible.
One way: Research the preferred hacker attack methods, then grill your bank on the specific safeguards they have in place.
For example, Trojan horses (disguised as screen-savers, security patches, etc.) have been used in many recent theft cases. So ask your bank or brokers what methods are in place to keep their employees from opening up something harmful to your cash.