As most of money in the world is digital anyways, Why can’t people fake transactions to a Bank account or just add one or two zeros to the balance? What makes online banking so safe that this doesnt work?
Most of even well guarded things have been hacked in the past, so i would imagine it’s at least possible?
In: Technology
Banks perform regular audits and reconciliations, with balances coming from date and time stamped transactions. If you were to, say, go back in time and make a large withdrawal transaction much smaller, or a small deposit transaction much larger, it should come up in a future audit that these balances changed.
Banks that are worth their while have offline backup records – so they’ll be able to find out exactly what changed to throw off that future audit by comparing the offline records to the online records. And then they would begin a very thorough investigation of their system logs to find out how and why their live records changed in a way that doesn’t agree with the offline backups.
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