The transfer and movement of funds process involves verifying your identity and bank account before allowing transactions. Banks implement strict security measures to ensure that you are the rightful account holder, protecting you from fraud and unauthorized access.

How Banks Verify Transactions

Banks use a combination of multi-layered security protocols to authenticate transactions:

• Two-Factor Authentication (2FA) – Requires a second verification step, such as a unique code sent to your phone or email.
• Biometric Verification – Some banks use fingerprint, facial recognition, or voice authentication.
• Transaction Monitoring – Banks analyze spending patterns and flag suspicious transactions for review.
• Account Ownership Verification – Before enabling transfers, financial institutions require documentation, such as government-issued IDs, to confirm your identity.

How to Protect Yourself from Scams

Scammers constantly evolve their tactics, so staying informed is essential:

• Beware of Phishing Attempts – Avoid clicking on links in unexpected emails or texts requesting personal details.
• Monitor Your Accounts Regularly – Check your statements and report unauthorized transactions immediately.
• Use Secure Networks – Avoid entering sensitive information on public Wi-Fi.
• Cover Your Camera & Microphone – Hackers can remotely access devices, so using a cover or disabling permissions helps prevent spying.
• Verify Directly with Your Bank – If you receive suspicious messages or calls, contact your bank through official channels.