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5 Steps to Take if Your Online Account Has Been Hacked - A Guide for Overseas Filipino Workers (OFW)

07 Aug 2023


Have you ever had the horrifying realisation that your online account has been hacked? In today's digital age, where hackers are growing more skilled in their techniques of acquiring personal and financial information, this fear has unfortunately become all too prevalent.

An easy and effective approach to support your loved ones back home as an overseas Filipino worker (OFW) is to send money to Philippines through a credible money transfer service. However, as online transactions grow in popularity, the likelihood of internet security breaches also rises. Your financial assets and personal information could be put at risk if your internet account has been hacked.

 

Stats About Online Hacking

In the UK, one in every 3,722 emails is a phishing attempt which is 20% more than the average worldwide. Every 19 seconds, a small firm in the UK is successfully breached. Every day, there 65,000 efforts are made to hack SMEs and personal accounts, of which around 4,500 are successful.


You don’t need to worry about such problems; the following tips will help you control your online activity and let you know the things to do if you experience any hacking attempts.

 

5 Crucial Steps to Take If Your Account Gets Hacked

As an OFW who routinely sends remittances to the Philippines, you’re at a higher risk of facing this problem. Below are the five steps you should take if your online account has been hacked.

 

Step 1: Take immediate action

When you suspect that your internet account has been hacked, the first thing to do is to take urgent action. Don't put off taking action until it is too late. To prevent additional unwanted access to your account, immediately change your password. Make sure your new password is strong, unique, and difficult to decipher.


Never use a password that contains personal information like your phone number, address, or date of birth. To make a strong password, mix capital and lowercase letters, numbers, and symbols.

 

Step 2: Monitor Your Account Activity

Checking your account activity comes next after changing your password. Inspect your account for any fraudulent transfers of money or purchases that you did not make. Report any unusual activity right away to your bank or other financial institution. They will look into the situation and, if necessary, assist you in getting your money back.

It's important to constantly check your account activity if you're an OFW who makes an online money transfer to Philippines regularly. This will assist you in early fraud detection and help you avoid further monetary loss.


Step 3: Inform Your Financial Institution or Bank

It's crucial to inform your bank or financial institution as soon as you get proof that your account has been hacked. They can assist you in protecting your account and preventing more illegal access. Also, they can provide you advice on how to proceed to get your money back if any unauthorised transactions were performed.


The majority of banks and financial institutions have a fraud division that is experienced in dealing with incidents of internet fraud. They will look into the situation and cooperate with you to get your money back. They may even pay you back for the money that was taken in some circumstances.

 

Step 4: Upgrade Your Security Protocols

Updating your security measures is essential after recovering your account. This includes setting two-factor authentication and routinely updating your password. The use of a code or a fingerprint, in addition to your password and two-factor authentication, strengthens the security of your account.


Using a reliable and secure online money transfer provider is essential if you're an OFW who routinely sends remittances to the Philippines. Choose a service that protects your personal and financial information with encryption and other security measures. Never give out your login information to anyone, and log out of your account at the end of each session.

 

Step 5: Educate Yourself About Internet Security

To prevent further security breaches, educate yourself on online security. The risks to online security are ever-changing, so it's critical to keep up with the most recent hacking trends and methods. Keep up with the most recent security news and online security best practices.

 

It's crucial to exercise caution when it comes to online security if you're an OFW who routinely sends money to the Philippines. Don't open attachments from shady sources or click on strange websites. Often update your passwords and choose strong ones. When accessing your online accounts, stay away from using public WiFi networks.

 

ACE Money Transfer: The Safest Option for Online Money Transfers

ACE Money Transfer is a well-known online money transfer business that offers overseas Filipino workers (OFWs) a reliable and secure platform to send money to Philippines online. ACE Money Transfer is regarded as one of the safest solutions for online money transfers due to its cutting-edge security features and regulatory compliance.

 

Regulatory Compliance

ACE Money Transfer is a money transfer service that is fully authorised and governed. The Financial Conduct Authority (FCA) in the UK has authorised and regulated it, ensuring that ACE Money Transfer follows stringent regulatory criteria and upholds the highest standards of compliance and security.

 

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC) are just a few of the regulatory bodies that ACE Money Transfer is registered with in addition to the FCA.

 

Security Measures

ACE Money Transfer uses a variety of security procedures to safeguard the financial and personal data of its users. These safety precautions include:

 

  • Encryption: ACE Money Transfer uses end-to-end encryption to protect all user data, including login credentials and transaction information. This encryption ensures that all data is securely transmitted and cannot be intercepted by hackers or third parties.
  • Two-Factor Authentication: ACE Money Transfer offers two-factor authentication as an additional security measure. This requires users to provide an extra authentication code or token in addition to their password when logging in to their accounts.
  • Fraud Monitoring: ACE Money Transfer employs top-notch fraud monitoring tools and techniques to detect and prevent fraudulent activity on its platform. These tools include real-time transaction monitoring, IP address tracking, and behavioural analysis.

Final Thoughts

Online account security is a critical issue that shouldn't be ignored. Being attentive and proactive in securing your online accounts is crucial. You may reduce the likelihood that your account will be hacked and ensure the security of your personal and financial information by adhering to the steps mentioned above.

 

Always use trustworthy and secure online money transfer providers, such as ACE Money Transfer, that put a priority on regulatory compliance and use cutting-edge security measures to safeguard your sensitive information. Continue to support your loved ones in the Philippines by using secure money transfer services while remaining safe and secure online. Sign up on ACE for free to make unlimited online money transfers to Philippines with utmost safety.

 

 

FAQs

What are the signs that my online account has been hacked?

Signs that your online account has been hacked may include unexpected password changes, unrecognised transactions, suspicious activity notifications from the service provider, unfamiliar devices accessing your account, or receiving emails about actions you didn't take. Always be vigilant and take immediate action if you notice any of these indicators.

I'm an OFW, and my account was hacked. What's the first step I should take?

The first step you should take is to change your password immediately. Use a strong and unique password that combines letters, numbers, and special characters. Enable two-factor authentication (2FA) if it's available. These measures can help you regain control over your account and prevent further unauthorised access.

I’ve completed the 5 steps mentioned in the article, but I’m still worried about my online security. What else can I do?

Besides the 5 steps mentioned in the article, you can also regularly monitor your accounts for suspicious activities, keep your software up to date, use a reputable antivirus program, and be cautious with the information you share online. Consulting with a cybersecurity expert or the support team of your service provider can also offer personalised assistance.

How can I protect my financial accounts as an OFW if I suspect they have been compromised?

If you suspect that your financial accounts have been compromised, contact your bank or financial institution immediately and follow their guidance. You may need to freeze your account, monitor for fraudulent transactions, and possibly file a report with local authorities. Always use secure connections when accessing your financial accounts, especially when overseas.

What should I do if the hacking incident involves sensitive personal information?

If the hacking incident involves sensitive personal information such as Social Security numbers or other personal identification details, you should report the breach to the appropriate authorities in your country of residence and in the Philippines if applicable. Consider subscribing to identity theft protection services and closely monitor your credit reports and other personal accounts for unusual activities. Reach out to legal professionals if you need assistance understanding your rights and obligations in this situation.


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