How do people’s bank accounts still get hacked?

Question

I’m trying to wonder how is someone able to get hacked and wake up one day only to see their bank account is sitting at a zero.

Aren’t there barriers in place like IP location verification, 2-factor authentication, and other security?

In: 0

Answer 1

Sure, there are security measures in place. If someone has a remote access trojan that lets them run arbitrary code on your PC, then the IP address is going to show “your house”.

This sort of event is extremely unlikely, and in most cases reversible, that’s the thing about banks, transactions aren’t really permanent if you can get a court order.