All iPhone and Android users must enable two settings to stop bank hacking attacks – worrying sign means it’s too late

MILLIONS of phone owners are being urged to activate two settings – or risk devastating cyber attacks.

It takes a few seconds to activate them, but ignoring the warning from cybersecurity experts means you could find yourself out of money.

Hacking your online accounts is as easy or difficult as you make it.

That’s why security experts at McAfee are urging users to check two settings to secure their logins.

DOUBLE TROUBLE

The first is to use two-factor authentication everywhere possible.

“If your account offers two-factor authentication as part of the login process, use it as it adds another layer of security that makes hacking more difficult,” said Jasdev Dhaliwal, Director of Marketing and Security Evangelist at McAfee.

Two-factor authentication means requiring an additional way to verify who you are beyond just your password.

Often times, this is simply a text message with a short code.

But many experts recommend using authenticator apps or physical controls as they are considered more secure.

Two-factor authentication means that even if a criminal has obtained your password, they still won’t be able to log into your account.

Just make sure you don’t share your two-factor code with anyone else.

Many criminals will try to get your two-factor login code using sneaky tricks.

This could involve pretending to be a friend and claiming they accidentally sent you their own login code – and asking to see it.

Never share a text message code with anyone, or you risk letting criminals into your accounts.

PRO PASSWORD

two

The second setting you need to look at is password management.

Passwords are a huge weak point when it comes to cybersecurity.

Many people choose simple passwords because long ones are difficult to remember.

But short, uncomplicated passwords are immensely easy to “crack” – special hacking software can crack them in seconds.

Strong, unique passwords give you one of your best defenses against hackers

McAfee

Likewise, long, complicated passwords are difficult to remember – so some people pick one and use it for everything.

This is also dangerous because if your password is leaked for just one account, it can be tested on dozens of others.

Ultimately, this leads to a hack chain where many of your accounts are compromised in a very short space of time.

“Strong, unique passwords offer one of your best defenses against hackers,” explained Jasdev.

The security expert added: “You can save yourself the maintenance that goes into having a password manager that can keep track of everything for you.

Your iPhone has a built-in password manager called iCloud Keychain.

And Android devices can take advantage of Google Password Manager.

This way, you can save long, complicated, and completely unique passwords for each of your online accounts.

Phone scam statistics

Americans are bombarded with three billion spam calls per month. What are the numbers regarding the number of victims and the amount of money lost to fraudsters

• In 2022, Americans lost an estimated $39.5 billion to phone fraud, with 68.4 million US citizens affected, according to TechReport.
• The average phone scam victim lost $567.41 each in 2021, a huge increase from the figure of $182 per victim in 2021, according to Hiya.
• Most scams happen over the phone, with fraudsters twice as likely to call compared to text in 2021, as the Federal Trade Commission (FTC) reports.
• In 2021, the US saw a 56% increase in spam phone calls, with 60% of those robocalls.
• US residents receive an average of 18 spam phone calls per month, although some experts believe the real number could be as high as 31 per month.
• Many phone calls from reputable companies can be mistakenly marked as spam, but 38% of companies have no idea whether they are being marked as “potential fraud” or not, according to Hiya.
• Never provide personal or financial information if you suspect a phone call is a scam. For example, your bank will never ask for these full details over the phone.
• To reduce spam calls and scams, sign up for the Do Not Call Registry. Telemarketers, by law, will need to check this list before calling you.
• Downloading third-party apps like Hiya, Nomorobo or Truecaller can help filter annoying spam calls.
• Try not to share your phone number unless necessary, especially online or with sketchy sources.

BAD SIGN

One of the simplest signs that your password has been compromised is any subtle changes to your online accounts.

Stay alert and watch out for any settings tweaks or strange activity.

This doesn’t just apply to banking apps, but any account – like Google, Apple or Facebook – where a criminal could be lurking.

“If you notice unusual or unknown charges or transactions on your account, bank statement or debit card, follow up immediately,” warned Jasdev.

“This could indicate misuse. In general, banks, credit card companies and many businesses have countermeasures to deal with fraud, along with customer support teams that can help you file a complaint if necessary.”

If you think your account has been compromised, change the password to something unique and complicated – and make sure two-factor authentication is turned on.