Electronic Fund Transfer (EFT) Fraud

Electronic Fund Transfer (EFT) fraud occurs when someone illegally accesses your bank account to steal money or personal information during digital transactions. This can happen through phishing emails, malware, or data breaches, allowing fraudsters to manipulate or initiate unauthorized transfers. Victims may not realize their money is missing until it's too late. To protect against EFT fraud, individuals should monitor their accounts regularly, use strong passwords, and be cautious about sharing sensitive information online. Staying informed about potential scams and using secure connections can further reduce the risk of fraud.