One major risk of using a financial institution is the potential for fraud or identity theft. With the rise of online banking and financial transactions, there is an increased risk of cyber attacks and unauthorized access to sensitive personal and financial information. This can lead to fraudulent activities such as unauthorized withdrawals, unauthorized access to accounts, or fraudulent transactions using stolen credit card information. Additionally, financial institutions can also be susceptible to internal fraud, where employees misuse customer funds or manipulate financial records for their own gain.
