What are Formjacking attacks and how to protect against them?

You may have heard of bank card cloning as a way to steal money. In these types of attacks, hackers use a scanning device; Once installed on a vending machine or on a payment terminal, this device saves the information from the magnetic stripe and the card's PIN when inserted, thus enabling the theft of funds. But with the development of technology, we are witnessing these days, most users have switched to online transactions, purchases and payments. Even in stores, users prefer paying online through gates rather than swiping their cards at a scanning machine.

 

This has led to a new type of cybercrime called FormJacking; Which is a kind of online credit card data theft. This technology mainly targets e-commerce sites and exposes the data of people who shop online to risk and hack. The goal of theft remained the same, but the means followed the wheel of digital development in order to be used in the worst forms against us! So, let's learn more about FormJacking attacks and how to protect ourselves from them as much as possible.

 

How Do FormJacking Attacks Hack Your Bank Data?

 

FormJacking attack is a term coined to refer to a new form of attack that steals customers' banking information directly from online shopping sites. This procedure involves invisibly inserting malicious JavaScript code into shopping carts within a website, allowing hackers to secretly intercept credit card data without raising suspicion!

 

Once a website user enters their payment card details on the online store payment page and clicks submit, the malicious JavaScript code will collect the entered information. Thus this malicious code can; Installed by hackers, they collect information such as payment card details, home and work addresses, phone numbers and more. Once the information is collected, it is then transmitted to the attacker's servers. That is, hackers can then use this information for financial gain themselves, or they can sell the information on the deep web. Unfortunately! With this information, cybercriminals can use the data for identity theft and payment card fraud.

 

How to spot and protect yourself from FormJacking attacks

 

It is often difficult to detect a FormJacking attack on your bank card, but adopting certain measures will help to eliminate the attempted theft as quickly as possible and reduce the risk:

 

First, enable two-factor authentication

 

By creating strong and complex passwords to protect all your accounts. If possible, configure two-factor authentication, as this may be enough to protect you from a FormJacking attack.

 

Second, check your bank statements regularly

 

Check your bank details for abnormal withdrawals, by activating push notifications to notify you in real-time about transactions carried out with your bank card. Suspicious transactions can reveal dangerous bank data. It is important to check for discrepancies in your bank statements from time to time. The reason is that small scams can go unnoticed and eventually pile up!

 

Third, install powerful software to secure your devices

 

This type of hack usually takes place online through your PC or mobile phone, so it would be better to use identity theft protection software. Most reputable cyber security companies offer a somewhat similar degree of protection. Thus it will hide your identity while making transactions. You can also use cards with one-time digital codes, masked credit cards, etc.

 

Unfortunately, these kinds of attacks and hacks keep growing and increasing because they do not require any physical device to achieve them, thus it is almost impossible to detect the culprit. So be extra careful while shopping online!