Throughout the holiday season, millions of people shopped online and purchased gifts. They also paid utility bills, mortgage payments, car loans and conducted countless other transactions through their computer, a phone app or even by telephone.
According to an FBI article from April 2025, there were over 800,000 complaints about online crime in 2024, with losses exceeding $16 billion - an increase of 33% from 2023. The article noted that "as a group, people over the age of 60 suffered the most losses at nearly $5 billion and submitted the greatest number of complaints."
What kind of hacks can happen? Pew Research Center reported in July 2025 that 48% of US adults have had online hackers steal credit and/or debit card information, making fraudulent charged. More than a third of those survey reported purchasing an item online that was counterfeit, never arrived or was never refunded, and nearly the same number of people said a personal online account was taken over without permission.
Much of these hacks are tied to credit and debit cards... so what happens when a seemingly innocent transaction turns into a hack to your bank account?
When the actually bank account is attacked, it becomes a complicated web of challenges:
- Was personal information, like a Social Security Number, discovered as well?
- What kinds of deposits and automatic payments are established with the account - because it's very likely the bank account will need to be closed and a new account established - with new account numbers, debit cards., etc.
- How long has the account been hacked? If the account holder isn't regularly verifying account transactions, the likely hood of recovering those losses may diminish.
If your bank account is hacked, there are a variety of things you should do:
- Notify your bank immediately. You may be able to submit a request by telephone or through the bank's website - but going into a physical branch may be the best option. This allows you to talk with an employee, discuss the situation and answer any questions directly. You will likely need to open a new account right away, and having your new account number will help with some steps below.
- Have a list of your outstanding checks. Yes, many people still write checks, so knowing what money is supposed to be going out will help with the process. It may also help determine how the account was hacked.
- Contact the companies you have automatic deposits and withdrawals scheduled. This includes utility companies, Social Security, investment companies, monthly loan payments and more. This can be time-consuming, but ultimately beneficial for the account holder. Those companies will need your new bank account information, so having the new account will help expedite things.
- Destroy your checks and debit card(s). If you have checkbooks with your compromised account number, shred them. They will no longer be valid and do not need to be used for any future purchases. Your bank may be able to handle the destruction of those items.
- Change your online account passwords. Again, a hassle for the user, but a necessity to help prevent future hacks. Don't use "Password" or "12345," and don't use the same password for each account. Make sure you write the new passwords down and keep them in a safe place.
- Review your past transactions. Is there a pattern for the hacking? Is one company doing the hacking? Work with your bank and their fraud team to see if any patterns are noticeable.
Some other things to help prevent bank account fraud:
- Don't put outgoing mail with bank information in your personal mailbox. If you are sending a check in for a payment, or as a gift to a loved one, put the envelope in a US Postal System mailbox. Those are often secured and routinely checked. Putting an envelope in your home mailbox, with the flag up, could invite a scammer to access your information.
- Use a credit card for online purchases. Credit cards offer a higher level of security than debit cards. Consider using a specific credit card for your online transactions, then paying it off monthly (instead of using your debit card to make the purchases).
- Check your bank account regularly. Look for transactions that should have occurred, and make sure the amount is correct
Do not be ashamed if your bank account is hacked. If you suspect an issue, contact your bank immediately and be proactive in keeping your online profile safe.