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Spyware Trojan Drains On Users’ Accounts

A new spyware Trojan drained the bank accounts of many online users. Therefore, the only way shoppers can prevent identity theft when shopping on the Net by giving more time and effort to the transactions they make.

'Webroot' has found the Trojan lying dormant on the users' PCs, where it analyzes the users' keystrokes. Immediately as the worm recognizes a 'bank', or 'building society URL', it starts to log any details that the user keys-in. This enables the fraudsters to extract money from the accounts. It, according to APACS (The Association for Payment Clearing Services) of U.K., paves a way to fraudulently use the same details to shop online on the victim's name.

The fraudsters' activities become dangerous when they take full control of the system. They not only access the victim's existing credit but can also open new accounts under his/ her name. Furthermore, they can use the user's personal information to issue counterfeit checks, take or transfer money.

Sandra Quinn, spokesperson for APACS said that fraudsters do exactly the same what others do when shopping online. They too surrender the victim's details. However, she warns, the blame for manipulation is shifting from retailers to consumers.

The Interactive Media in Retail Group (IMRG), the 'industry group for global e-retailing', calls on retailers tired of held responsible for fraudulent transactions to "take a real step in fighting fraud". The body asks retailers to join their efforts with various 'security schemes' to help consumers.

Under the '3D secure initiative scheme', a pop-up from Visa or MasterCard appears after a consumer has finished an online transaction that asks the user to verify his passwords. This is a step further to the 'security code requests'. The scheme exempts retailers from being liable to occurrence of fraudulent transactions.

Quinn has alerted consumers that are overlooking this protection in hurry to fill out the formscan cause serious trouble.

As an advice to consumers Daniel Mothersdale, 'EMEA marketing director' at Webroot said that they should ensure the anti-spyware programs they install are capable of adequate protection from current technologies made to penetrate a PC.

Related article: Spyware Detection Programs Track Advertisers’ Cookies

» SPAMfighter News - 12/14/2006

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