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Bank phising scams on increase again

Wednesday, August 13 14:11:34

Fake emails purporting to be from Irish banks have been on the rise over the last couple of weeks, according to IT security firm, Smarttech.ie.

Known as "phishing scams", these fake emails appear to be legitimate and are aimed at tricking the customer into handing over personal or sensitive financial information to cyber criminals.

Ronan Murphy CEO of IT Security Company Smarttech.ie has warned that anyone can be a vulnerable target.

"These scams are not unique to any one bank and have been experience by all the major banks across the world. The cyber criminals involved are experts scam artists who operate with extreme precision, meaning this recent trend of increases is not a random occurrence," he said.

"One reason why there has been a spike in these phishing scams over the last few weeks is that many Irish people are abroad on their holidays and could be relying on their phone to read their emails. They may be less likely to spot these fake emails on the smaller screen or just let their guard down," added Mr Murphy.

He explained that the fraudsters attempt to lull the customer into a false sense of security by using an email address and email format which have the appearance of being from the real bank. If the customer had clicked on the link, they would have been taken to a web page run by the hackers, but which would have had the appearance of being from the bank. Once the hackers have your personal information, in a short time, the information is either sold onto someone else or used for fraudulent transactions.

Another element to the scam is that by clicking on the bogus link, malware can be secretly installed onto the users' computer, which allows the hacker to track and record a person's activities.

For more visit: www.businessworld.ie