The Hindu : Andhra Pradesh News : Phishing cases on the rise

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Sunday, Apr 17, 2011
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Andhra Pradesh

Andhra Pradesh

Phishing cases on the rise

Cases of phishing are not reported as frequently as Nigerian frauds and are rising steadily, writes MARRI RAMU

Law-enforcing agencies of late have succeeded to some extent in busting Nigerian frauds by arresting some Nigerians operating from Delhi while scores of cloned credit card rackets too were cracked. Yet, they could do little in cases of phishing as the accused are leaving no trace of evidence and entire fraud is committed through Internet.

Phishing is a fraudulent practice of sending e-mails purporting to be from legitimate sources like banks luring bank account or credit card holders to reveal sensitive information including online banking codes or passwords. Using the crucial details thus secured, the fraudsters relieve the account holders of their money before the latter realise that they have been taken for a ride.

Three cases

Three such cases were reported in Cyberabad alone in past three months. The victims, all employees of IT companies and qualified professionals, received e-mails in the name of their bank websites. The e-mails sought to know their online banking passwords stating their account information was being updated.

The moment the account holders mailed the details, the fraudsters at the other end sent e-mails to the bank in the name of original account holders requesting to include them as beneficiaries in the account, facilitating online transfer of funds between the two. The bank -- this time it is from genuine source -- sends a message to the account holder's mobile phone giving a code which is to be mailed back to it confirming inclusion of the beneficiary.

Even at this stage the fraud can be checked if the account holder is alert. “But the trickster calls up the victim claiming he is from the bank and collects the code under the guise of cross-checking if the code is correct,” the investigators said. The trickster then mails the code to the bank, and thereafter he transfers money or shops online till the balance in the victim's account is nil.

Awareness about Nigerian frauds has spread thanks to the campaign by the police but not much focus is being laid on phishing.

The victims in phishing cases are mostly educated and well-versed. Still, they are falling in the trap as the email looks like an original one from the bank using the bank's original logo, name and symbols.

Investigators feel simple precautions like not revealing critical information like bank account passwords or codes help check phishing. As part of online security strategy, in fact, banks dissuade customers from disclosing these details online.

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