Absa Phishing E-mail Scams Businessman off R24, 000

A businessman from Durban named 'Doug Baker' fell victim to a phishing e-mail purporting to have come from Absa Bank. The businessman thought that the e-mail was real, and consequently lost R24, 000 to the scammers by sending reply to the message.

The e-mail, which arrived on February 16, 2010, stated that it was the Bank fundamental interest to safeguard their customers' online banking access and privacy and the wide network of Absa banking.

The mail further stated that Absa wanted to notify Baker that the Bank had observed certain invalid login attempts to his Internet banking account at Absa. Consequently, it's tentatively restricting him from accessing a few sensitive online banking services. The message then directed Baker to click on a given web-link. In the end, it said that Absa Bank would check all particulars so that Baker could soon resume accessing his account.

Meanwhile, Baker had been encountering failed login trials with respect to his Absa account for Internet banking. So on getting the phishing e-mail, he immediately answered it in which he revealed personal banking details, particularly Personal Identification Number.

But beginning from 7 AM on February 16, Baker's balance was withdrawn through 8 unauthorized transactions.

Only when an official from Absa called him up, he realized it was a scam and how it affected him.

According to security specialists, people should remember that anytime there is a suspension of personal bank account access, the bank will request them to visit nearest branch. They would also be asked to bring along an authorized identification document so that the suspension can be lifted. These are something that won't be carried out through e-mail or any other communication mode.

However, it is the most important not to frighten if a consumer fails to log into his Internet banking account. Besides, he shouldn't follow any web-link embedded on an e-mail. Furthermore, it's always safe to enter the bank website's URL address directly into the browser. Finally, passwords should be changed every month, while setting different ones for different accounts. All these will effectively prevent users from becoming a prey of such scams.

Related article: APACS Reports Phishing On The Rise

» SPAMfighter News - 4/6/2010