Experts Warn: Phishing Email Exploiting Logo of RBI with its Governor’s Name

Bubblews.com published news on 29th March, 2014 stating a warning by security experts as that a new phishing email has been flooding many email inboxes promising heavy return in lieu of small amount of processing fee while soliciting their bank details. The emblem of BRI (Reserve Bank of India) and a photograph of Mr. Raghuram Rajan, Governor of RBI, are attached with this phishing email.

The fake email guarantees the fortunate recipient a share of Rs 3.97 Crore for exceptional debts of the UK Government amassed between 2011 and 2013. The email also says that these debts are returning back according to a resolution taken in a convention attended by Raghuram Rajan along with the UN (Union Nation) Secretary General Ba Ki-Moon and the Senate Tax Committee on Finance for RBI.

The fake email asks the recipient to send not only basic details such as name, nationality and occupation but also bank details like name and branch of the bank, account number, account holder's details and 'an identity proof for further verification.'

Actually, the catch in the fake email is that the lucky winner has to first pay Rs. 17,800 towards processing fee so as to get the entire paper-work done for transferring the fund. But, according to officials of bank, what is disturbing is disclosure of long personal details which is going into the database of these cybercriminals.

Dnaindia.com published a report on 29th March, 2014 quoting a bank official as saying that it functions in two ways. Firstly, these scams manage to make money from innocent individuals who fall for such trick and secondly, which is more dangerous, is the type of information asked as this will allow fraudster to open a fresh bank account or even run somebody's account in case bank does not apply due diligence."

Moreover, this is not the first time that name of Raghuram Rajan has been exploited by cybercriminals as during November 2013 also, it was found that cybercriminals posing as Rajan were sending scam emails promising recipients a payment in return of a fee of Rs.9,500 with other personal information.

» SPAMfighter News - 4/8/2014