The perpetrators take advantage of your inattention.
Recently, there has been an increase of online investment frauds via remote access. The perpetrators usually contact their victim with an enticing offer on their investments, then invite their victim to download a remote access software (most commonly Anydesk or TeamViewer) into their smartphone, under the guise of guiding the victim through the investment process.
You then, in good faith, log into your internet banking where the perpetrator can do whatever they want as they have access to mobile keys from your text messages right on your smartphone. Thus, easily gaining control over your entire account and finances, and ironically, it was you who gave them access to it in the first place.
In general, online fraudsters try to push fake login pages and links anywhere that people are likely to not pay attention and make a mistake. You can encounter links to fake login pages in text messages, emails, but also in sponsored links in search engines (e.g., Google).
Never log into internet banking from the mobile browser of your smartphone, always use the app
The main risk of logging in to your internet banking from a smartphone lies in the fact that a hacker only needs access to one device to retrieve the login ID, password, and confirmation SMS of the victim.The perpetrator can easily gain access to this information.
All that they need is for you to enter your information into the fake login page which, at first sight, is indistinguishable from the real one. Then, they collect your login information and use it in the real bank. There (or in the app), they can request an SMS mobile key and gain control over your account.
Another way they can gain access to your information is via malware which you can unknowingly install into your smartphone. The malware monitors which buttons (or what areas of your touchscreen) are being touched and sends it back to the perpetrators. This collected information is even illegally traded online and getting access to mobile key is not a difficult task for an experienced hacker. This is something you will not have to worry about with the Smart Banka app.
Therefore, most banks, including MONETA, ask their clients to only access their account via the app which is secured via PIN and biometrics (fingerprint or face scan depending on the device), as those are virtually impossible for hackers to break through. Download MONETA’s banking app Smart Banka which offers state-of-the-art security as well as a truly convenient way to manage your finances.
You can find more information about this change and answers to some frequently asked questions here.