I followed my typical morning routine. First, coffee because no one wants to see me without that. Next, fix breakfast for myself and my youngest daughter. I collapsed into my regular chair the family table to both enjoy the fruits of my labor and do what I do every single morning without fail – log into our bank account.
Sorting through the transactions, I began matching the amounts spent to the categories of our budget. The long holiday weekend meant an extra day of spending and a few more figures than usual. I was almost finished when I found a number that didn’t match any receipt or online purchase.
In fact, the entry looked a little suspicious. I’d never heard of the payee and when I did a quick internet search, nothing turned up. Something smelled fishy. It didn’t take too long to realize we had been hacked. The amount seemed small and insignificant – less than $40. But oftentimes, attempts to remove funds from your account start small. Hoping you won’t notice the minor expense, hackers begin to test your account and plan a larger attack.
Few Escape The Hack
Odds are good that you or someone you know has been hacked. In our world of online commerce and information, it’s difficult to escape the possibility. Even by conservative estimates half of Americans will be hacked this year. In fact, one of my favorite ice breaker questions to ask a group is what they’ve “bought” because they were hacked. My friend Bob picked up a boatload of Mary Kay Products. Tricia’s snagged a large TV she’ll never get to watch. And I once purchased $450 worth of World of Warcraft gaming gear. I’m not even completely sure what that is.
Before you start to panic and bury money in the backyard, take a deep breath. Handling a hacking situation has little to do with what you do in advance. While you can always engage is smart, safe shopping practices both in stores and online – like ensuring you only visit secure sites or shredding documents with sensitive information – this may not keep you 100% safe.
Daily Check Ups For Your Accounts
For this very reason, it’s wise to keep close tabs on each account you have including but not limited to checking and savings accounts, credit cards if you have them, and third party platforms like PayPal. Only your careful eyes will be able to pick up suspicious charges or inaccuracies.
Again, our recent experience was for a seemingly small amount of money. When we spoke to our favorite banker (more on that later), she mentioned this is a common trend among thieves. Whether or not you’re paying attention to your accounts could make all the difference.
Know Your Bank Employees
Skip the drive thru and the ATM, it’s time to get back to the days of chatting it up with the teller behind that tall desk. If you don’t already, be sure to build a personal relationship with your local bank or financial institution. When possible, visit the same branch on a regular basis.
This may not be as convenient as banking entirely online or staying inside of your car, but it’s worth it. As soon as we discovered our breach, we knew exactly who we’d be talking to at our neighborhood branch.
Hacking creates panic and insecurity. Even when you have your wits about you, it’s difficult to know who you should talk to first. A first name basis relationship becomes a built-in first line of defense. Someone at your bank should be able to help you navigate the first steps of cleaning up a money mess.
Shut It Down
A repeat hack always looms in your future after the first attack. For this reason, it’s wise to at least have a new card issued. It would also be a smart precaution to change your password(s). In our case, we needed to shut down our entire checking account and open a new one. Again, your favorite bank employee should be able to coach you through the steps of shutting down one account and opening another if needs be.
In addition to shutting down and opening an account, you’ll want to brainstorm any connected accounts. Whether on autopay or direct deposit, odds are good you have multiple connections to your hacked account. Begin the process of changing information to a new viable option sooner rather than later to avoid late or overdraft fees.
Open a File
Depending on your individual institution, you may also need to open an investigation into your hacking event. More than likely, this will be the only way you’ll be able to recover any funds stolen. While a mild headache for you, this process can protect others. In our particular situation, the strange charge to our account was spotted as a trend recently popping up. The more information our bank can gather about how our hack occured, the better they can prevent others from suffering a similar fate.
Take the proper steps to report the incident. Keep notes either on paper, your phone, or your computer. Record the date, who you speak with, and any action steps you need to take. A careful log serves a purpose for both you and other potential victims.
I’m still a little raw over the entire ordeal. Not only is a financial breach like this annoying, it feels unsettling too – like someone’s gone through your sock drawer. But I’ll continue to monitor our finances like a hawk to keep a minor inconvenience from transforming into a major ordeal.
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