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Online Fraud, Phishing, Malware are Increasing

The UK Threat Assessment of organized crimes by Soca (Serious Organised Crime Agency) shows a rise in attacks on bank accounts by making use of malware, key logging malevolent codes and mail phishing, as reported by Silicon on June 6, 2008.

Soca informs that criminal gangs are collaborating on the web to become experts in spamming and trading of stolen private data. The market for hacked data has expanded with the emergence of web as details are stolen through malware, phishing and hacking, traded online in bulky quantities.

Soca also warns against the large number of bank accounts that are taken over by hackers deceiving call center workers, around 37% in cost of mail order, phone and internet and also the danger from PIN and chip are being changed to extract card information. Spam mails are used in delivering malware and phishing attacks, spread by hacked botnet computers' networks used to conduct denial of service attacks.

Further, almost half of £1.3 Billion worth intellectual property related crime in UK is done through digital media. The web is also known as the resource of prohibited goods like fake documents, firearms and controlled drugs.

The prominent cyber crime success includes Operation Ajowan in which Soca broke into a site where hackers traded stolen bank, identity and credit details that might have cost the finance sector of the UK almost £6 Million.

Similarly, Soca has also blocked the installation of an advanced Trojan that was extracting private and financial details. The hackers were caught and the losses were stopped at £265,000 out of the estimated £6 Million.

Soca has also sent almost 46 alerts to UK business, which included 11 alerts to UK financial institutions giving details of over 46,000 online accounts that had been hacked by virus and phishing attacks. Further, it also sent alerts to UK call centers to safeguard their private details and fraud alerts system for companies and banks.

Further, because of increased e-crime, Chief Police Officers' Association and the Metropolitan Police Service in the UK are asking Home Office of the country to grant £1.3 Million for establishing the Policing Central E-crime Unit that will cooperate with local forces across the nation in cyber crime investigation.

Related article: Online Card Fraud Shows Greater Tendency Than Chip and Pin

» SPAMfighter News - 20-06-2008

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