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
Imagine you have a bank account of $10,000 (yes this is a dream for a lot of people). Then you pay a hacker to add a zero. Even in the worst banking system, the change of $90,000 is going to set off alarms when the system automatically checks the difference in balance between start of business day and end of business day. The bank will have someone look through the transaction logs add see that there is no transaction adding that large sum of money to the account.
So you pay the hacker to also alter the previous days balances….. Eventually they will alter something outside of the possible pending period. As in something too old to be altered without automatically sending up a red flag. It’s one thing to change a week old account balance with a fraud report filed, it’s completely different when there is no reason given.
And then, the bank may have a master file for end of month numbers. Something not connected to the internet, something that cannot be hacked. Running the numbers between an offline master copy and the deposits and withdrawals will easily flag discrepancies. How long does it take the bank to rerun the monthly numbers? a matter of minutes for all their accounts.
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