What can be done with your online banking information?

Question

OK so I'm aware of all the online banking threats, such as phishing and malicious code, etc. But what can a person do with your bank account information other than view your account details? I know he/she can pay bills using your money but if you are able to notice the theft and notify your bank, it can track to whom that payment was made, no? For instance when I pay my electricity bill, I always have to enter my account number with that company and from this number you can tell who I am.

Also how does your bank information contribute to identity theft (if you don't enter your SSN)??

Answer 1

BEEN USING ONLINE BANKING 5 YEARS NOW PAY ALL MY BILLS OPEN NEW ACCONTS CAN SEE WHAT STATUS ACC. IS ...DAILY.... NEVER EVER HAD A PROBLEM OR MY FRIENDS WHO DO LIKEWISE .... ONLY ON HOME COMPUTER THOUGH .... VERY SECURE ENCRYPTION ........

Answer 2

online banking information reveals alot, it contributes to identity theft, if every bank and credit card company covered the customers lost cause of it, there wouldn't be any bank and credit card companies.

Answer 3

If I can learn enough information about you, I could apply for a loan in your name.  Additionally, I could be going thru multiple computers before making the transaction of pulling money from your account.  By doing so, it would be very difficult to trace.  I could ALSO do it from a public computer.  I could open a bank account, pull your savings into it, take the money from my bank account and close it.  All with a fake ID and have a very good chance of  not getting caught.

As long as you are keeping your machine patched, not doing banking from public computers that may have key loggers, updating your software, have decent antivirus, and not using ANY bank that is not HTTPS, your are setting yourself up for success.

DO NOT EVER use public computers or wireless APs that are not secure to do banking!