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
Because of every bank account transactions are logged. The computer system has an automated auditing system which balances every transaction.
If a fund transfer fails. There would be a flag on the system that logs the electronic transaction failed. A human auditor will do a manual entry correct the data for the transaction to push through.
I experienced this btw when to my sister was deducted 4x of the same amount. During a fund transfer system app error. I went to my bank to print out a statement of account to verify if the transaction pushed through. It turns out only 2 or 4 transactions were credited. A human auditor made a manual data entry on the logs.
My sister then used my bank statement as evidence to get a refund on her online bank. Which she got refunded back after they concluded their investigation.
Next story: A friend of mine worked as IT crew for an ATM vendor. When they were deployed on site to the bank to fix their ATM system. They have supervisors walking around watching over their backs while they work on the code. She said her parents had an account on the bank. She searched for it and found how little money they had. 😆
She says she was tempted to add money to the account. Since she literally had keys inside the kingdom vaults to do it. But decided against it because she knows it wouldn’t work. As every action she does is automatically logged. It will be traced backed to her that she made unauthorized changes.
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