the phishing scam

[deakie]

http://news.bbc.co.uk/1/hi/uk/3687017.stm

check it out......crooks all ova da place.... ???

[BlackCryptoKnight]

Survey: 2 million bank accounts robbed
Criminals taking advantage of online banking, Gartner says

Exclusive

By Bob Sullivan
Technology correspondent
MSNBC
Updated: 4:25 a.m. ET June 14, 2004

Nearly 2 million Americans have had their checking accounts raided by criminals in the past 12 months, according to a soon-to-be released survey by market research group Gartner. Consumers reported an average loss per incident of $1,200, pushing total losses higher than $2 billion for the year.

Gartner researcher Avivah Litan blamed online banking for most of the problem.

"There has been a big increase in the abuse of existing checking accounts," Litan said. "What's really scary about it is right now there are no back-end fraud detection solutions for it."

See full article here

[BlackCryptoKnight]

How prepared are local financial institutions who are providing online transaction services? Do they have things in place to combat these new threats to online banking? Do their customers know of the risks of online banking and how to protect themselves? ???

[rodalembs]

Phishers pose as a bank and then e-mail customers asking for personal details.

That is a good question, but it thing the above is important. One of the things we have to find our is what percentage of the top banks customers are using the online facilties. I have had experince with a particular bank where, each time they hear of a scam on the net, the call and verify you last 5 or so transactions. they even give persons the option to have there credit card numbers changed. I will not say it cant happen to us be jamaicans are very very very careful when it comes on to there financial information.

[deakie]

british banks are some of the most secure and yet these guys turned them inside out like it was no problem.....

crooks are def getting more savvy.....

[BlackCryptoKnight]

Updated Wednesday, June 16, 2004, 1:00 PM EDT

Internet Scams Cost Consumers $2.4 Billion
By Gregg Keizer, TechWeb News

Internet-based scammers illegally accessing checking accounts ripped off consumers to the tune of $2.4 billion in the last 12 months, research firm Gartner said on Tuesday.

And the scams designed to purloin funds are increasingly coming from online channels such as spyware and phishing attacks, the research firm said.

Using data from an April, 2004, survey of 5,000 U.S. adults who use the Internet and e-mail, Gartner estimated that nearly 2 million Americans fell victim to checking account fraud in the last 12 months. The cost to banks and consumers: a staggering $2.4 billion in direct losses, or an average of $1,200 per victim.

"In most cases that are not inside jobs, thieves likely stole account numbers and passwords to get into accounts online or through telephone banking services," said Avivah Litan, a vice president and research director at Gartner.

Such techniques, which don't require face to face transactions, are booming. And banks are behind the curve. "In contrast to the credit card industry's fraud detection systems, methods for detecting fraudulent checking account access seem years behind," said Litan.

See full article here