Phishing – A Big Challenge for Internet users

As per the annual report of Ombudsman for Banking Services' (OBS, South Africa), phishing is still a big challenge for Internet users as people still fall victims to lures although security experts repeatedly ask them to avoid clicking on links that lead to websites asking for bank account login details.

Phishing is a fraudulent activity wherein bad people obtain personal details like identity numbers, passwords and credit card information through unsolicited e-mail. The SA Banking Risk Council (Sabric) has revealed that phishing e-mails ask the recipient to click on a link given in e-mail which takes the recipient to a spoof website that asks for personal information.

Investigation details reveal that in nearly all the cases of Internet banking theft, a client fall victim to hackers after he has already compromised his personal information unwittingly. These spoof e-mail come in bulk quantity by posing as they have come from one bank. But when the pool of potential victims exhausted, these e-mails take another form by targeting another group.

The annual report also indicates that victims of phishing incidents experience heavy losses. As per one complainant, he/she came across a suspicious transfer of money (R161000) on his credit card and informed the bank and his personal banker. Actually, he had fallen victim to an online banking scam. The bank claimed that the complainant had given his personal details in response to phishing e-mail.

Besides, the bank clarifies that it has already taken a tough stand against phishing scam. It also warns people to stay away from such luring e-mails. After the investigation into the phishing incident, the OBS came across no evidence that confirm hacking of banks systems but the incident occurred due to the complainants' negligence.

The hackers succeeded to access the complainant's account through Internet owing to the personal information had unknowingly handed over to them.

This incident clarifies that hackers who run these scam to get personal details and hack bank accounts have become more sophisticated. They have improved on their tell-tale spelling and typing errors, with e-mail resembles to real bank correspondence that contains bank logos.

Thus, security experts have asked customers to avoid opening unsolicited e-mails.

Related article: Phishing With A Redirector Code

» SPAMfighter News - 5/5/2010