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Hackers Exploiting the Global Financial Crisis

In wake of the current banking turmoil, online banking customers have been cautioned against a latest series of phishing mails attacks. Cyber criminals are exploiting the uncertainty hovering around British banks to dupe users to visit fake sites and reveal their private information.

APACS said that the gangs of hackers behind the phishing attacks have started focusing on bank mergers and economic downturn as the cause for asking users to divulge their security information. Further, phishers are making their mails on the same plane as real life events so that they appear more genuine.

APACS also added that during the first six months of 2008 (Jan-June), there were almost 20,682 phishing cases in Britain, an increase of 186% compared to the same period last year (Jan-June 2007). This increase raised online banking losses to around £21 Million over the same period.

Also, phishing is not a new phenomenon. Hackers, especially in Eastern Europe, send mails and fake links that appear to have come from authentic firms. Private details are openly exchanged among hackers for defrauding users bank or credit card details.

But many examples have shown that luck and opportunity play important role behind the success of phishing mails. In these cases, the private data were linked to phishing mails. Further, if any user is expecting a new PIN or new pass code from bank, he is more likely to receive phishing mails. Also, hackers sell thousands of stolen bank and credit card details every month on the Web and users easily trapped in this web of hackers.

But the code provided by British Bankers' Association makes it clear that the banks are not responsible for the losses on the online bank accounts if users don't have up-to-date antivirus software on their system.

Also, APACS said that any authentic bank will not send mails like this, asking for PIN number, password etc. And if any user got this kind of mail, he should just erase it.

Related article: Hackers Redirect Windows Live Search to Malicious Sites

» SPAMfighter News - 31-10-2008

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