They Can Steal Your Passwords and Breach the Bank in a Moment

They Can Steal Your Passwords and Breach the Bank in a Moment

We can say that while password theft is common on the Internet, it has become more difficult for cybercriminals over time. The two-step authentication methods are critical. Essentially, that second code that you must enter. As a result, even if they have the access code, they will be unable to enter without performing the second step. Now, in this article, we're going to discuss Robocalls and how they can quickly steal our credentials.

A call from a bot can steal our accounts

What exactly are Robocalls? This is how scam victims are identified when they receive phone calls from bots. According to CyberNews, they are capable of obtaining one-time access codes, which are the keys required to access a bank account after entering the password. We are witnessing a textbook case of social engineering.

If an attacker steals the bank password, for example, after infecting the mobile device or computer with a virus, through a Phishing attack, or even through simple guessing (which may occur if the password is extremely weak), the most likely scenario is that it is discovered in a second step. That second step will require you to enter a one-time code to verify that you are, in fact, a legitimate user. Typically, we receive a series of numbers or letters via SMS.

Once they have obtained information from the victim, these Robocalls call and impersonate a bank or any other company. Typically, this indicates that something has gone wrong with the account, that they need to verify the user's identity, that they need to safeguard themselves... Anything that triggers the victim's alarm system. They can obtain data from social media platforms or from information we make publicly available in forums, for example.

They request a one-of-a-kind access code

Later, it will prompt the user to provide you with a code that you will receive via text message. The justification will be based on our comments, verification of the account's legitimacy, and so forth. This way, they can access their bank, Google Pay, Apple Pay, or any other online retailer. Once inside, they could link a card and later load unauthorized purchases.

Additionally, they frequently claim that someone has accessed their account and they must enter their bank's PIN or something similar to verify their identity. Logic dictates that this will halt the attackers and give them complete control of those accounts.

A critical point to remember about all of this, as CyberNews points out, is that by using a false caller ID, the bot will appear on the phone with an identifier that pretends to be a bank or other legitimate business. This may lead the victim astray.

In a nutshell, a Robocall is another technique they employ to steal accounts and gain access to the bank, linked cards, or any other online service. This means that we must be more vigilant than ever and, in addition to always enabling two-step authentication, never trust any call or message requesting data. We must always safeguard our bank accounts and any other platform on which we conduct business.