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Cyber Criminals Might Utilize Ongoing Global Financial Crisis to Launch Attacks

According to Security Analysts at Gartner, Inc., a research organization, with consumers unexpectedly getting scared of instability in the banking industry, cyber criminals are certainly take advantage of the situation by using all-too-known phishing attacks.

The financial turmoil is the most recent in global events that cyber thieves can exploit to attack victims. Earlier this year, fraudulent e-mails pretending to be sent by the IRS misled recipients into believing that their stimulus checks were in danger if they failed to share personal information. Likewise, in the past few years, online scammers tried to capitalize on natural calamities like the Tsunami, Hurricane Katrina and the earthquakes in China to attract donations to counterfeit charities.

Also, security experts fear that the banking crisis in the 3rd week of September 2008 might be the next target for spammers. Spam-mailers tend to use world crises and breaking news headlines to lure online users, and scammers know the tricks of exploiting people's vulnerabilities at the time of stress.

Further, the online crooks would use the latest financial turmoil to attack unsuspecting consumers by applying social engineering tactics that prey on their feelings of fear. For instance, they could strike with phishing assaults telling an end-user that she/he needs to confirm her/his bank account details to guarantee her/his FDIC insurance, said Avivah Litan, Vice-President and an eminent Analyst at Gartner, Inc., as reported by Trading Markets on September 21, 2008.

Nevertheless, many organizations repeatedly tell customers that they never send e-mails soliciting personal information. They also post alerts about ongoing phishing scams on their Websites. A government agency, Federal Trade Commission, is also concerned about phishing and frequently conducts workshops to determine new methods to caution the public against it. However, phishers are employing ever-more sophisticated techniques to befool consumers.

Gartner Inc., states that the key to avoid these attacks is to enter the URL manually in browser address box and do not follow e-mail links, as they could be harmful spam from the developers of phony sites. According to the company, in 2007, the US suffered an estimated loss of $3.2 Billion due to such phishing sites.

Related article: Cyber Child abuser Sentenced To Imprisonment

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