Recruitment of ‘Money Mules’ – New Way To Phish

Potential preys are contacted by fakers with ads of job vacancy through job search sites spam mails, or Internet chat rooms. Jobs are usually advertised as work related to financial management and suggests that there is no requirement of special knowledge. The ads make an appearance on all the key employment sites. These ads offer stay-at-home positions with titles like private financial receiver, sales representative or shipping manager.

The fraudsters insist the victim to work for their bogus company, with some even ask them to sign the employment contract that looks authentic. The Director of Rapid Response Team at iDefense, Dulles, VA, Ken Dunham said that this is another side of the phishing that has not been heard or seen by most people. But this is the major part of attack.

Dunham said that this recruitment move also comprises well-designed sites that serve the purpose of fronts for those companies that are recruiting money mules. iDefense said that all the investigated sites were recorded in Panama, which is the hub of Web money. Web money is among the most popular e-money services for the thieves of credit cards, popularly called as carders.

After the successful completion of the phishing attack and access to bank login information and credit card details, the hacker needs a money mule from the same country as the prey to tackle money transactions or to retransfer the items to fraudster.

Working as a mule is an illegitimate activity. This fraud demonstrates that how a faker manipulates computer users to do there malign work and lead them to break laws in this process. This is a major part of the problem, as without a mule, phishers can't get the purloined amount.

Authorities have warned the users to keep the financial details secure, update the antivirus software and be cautious when online. Additional warnings have been given about spam mails containing fake jobs proposals and are utilized as a cover to appoint money mules to launder money.

Related article: Record Increase in Phishing Sites in May 2007

» SPAMfighter News - 10/20/2006

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