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British bank accounts emptied by 'sophisticated' online fraudsters
Cybercriminals based in Eastern Europe target around 3,000 customers of British bank in ‘complex, multi-level scheme’.
Markets
Around 3,000 customers of an unnamed British bank have been hit for around £675,000 by internet fraudsters whose schemes show a ‘new level of sophistication’, according to online security analysts.
Cybercriminals based in Eastern Europe used a ‘complex, multi-level scheme’ to infect users’ computers, according to security analysts who are still working to confirm the full extent of the crime.
Fraudsters generally target vulnerabilities in customers’ PCs, rather than the banks’ own systems which are more difficult to attack.
‘Multiple techniques were used to spread malicious code to as many systems as possible within the UK with the ultimate goal of targeting online customers of a specific bank’, M86 Security Labs stated, adding that the bank in question was one of Britain’s biggest.
Techniques used by the criminals included:
- Infecting legitimate websites with malware (malicious software)
- Creating fraudulent online advertisement websites
- Publishing malicious advertisements among legitimate websites
Fraud rising
With more than 20 million people in the UK now banking online, fraud has been rising significantly. The main schemes used by thiefs include phishing, where customers are sent emails purporting to come from a genuine company operating on the internet in an attempt to get them to reveal information. Another is the use of malware, one of the techniques used in the theft exposed by M86 Security Labs
The Bank Safe Online website, set up by the UK Payments trade association, provides tips on how to stay safe online. It suggests three essential steps to protect your computer:
- Use anti-virus software and keep it up-to-date on a regular basis.
- Install and learn how to use a personal firewall.
- Download the latest security updates (or patches) for your web browser and operating system.
More information on how to protect yourself can be found on the Bank Safe Online website.
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11 comments so far. Why not have your say?
A Donald
Aug 11, 2010 at 09:56
I required some parts from a web site.
All my address and Credit Card details(apart from the CVV number) had to be entered on an unsecure web site, to buy parts from this web site.
The company informed me that by not entereing the CVV number, their web sales site was more secure that ones with a 'padlock' where the site security could be verified.
Anyone else agree with this thinking?
The web site in question is:-
http://shop.swanrobes.co.uk/store/index.php/upgrades-spares.html
report thisNeil Murphy
Aug 11, 2010 at 10:19
NOt sure what you are arguing here, as the site "use sophisticated security software (128-bit SSL) on our site that encrypts all your credit or debit card details and payment information ". So the site should be secure where you enter your financial details, and by keeping the CVV details separet it does enhance security. Accoridng to the way they word their security policy you should get the padlock as they say they use SSL encryption.
report thisIan Phillips
Aug 11, 2010 at 10:21
My rule is.....if in doubt don't do it! If you really need to purchase the goods then use a pre-loaded card........but NEVER use the debit card to your main bank account.
report thisGeoff James2
Aug 11, 2010 at 10:29
Hi Donald
Regarding http://shop.swanrobes.co.uk/store/index.php/upgrades-spares.html
They are talking rubbish, and you are right. I have looked at the site and gone as far as them wanting my full name and address via a non-HTTPS page. They fail security-101!!
Best wishes G
report thisSkint
Aug 11, 2010 at 10:35
I have not purchased anything from the site in question so I do not know if it uses encryption or not. However based on the wording of your question it would appear not and my views would be as follows.
I would be wondering how/where all this personal information is being stored, baring in mind the company has not bothered to implement their e-commerce site securely.
To assume that because one part of the information is missing it is ok to transmit all the other personal information unencrypted over an untrusted network is misguided at best. Just remember you have no way of knowing what path the posted information takes over the network or who is gathering that information on route.
I would go with Ian's view, if you are unsure don't do it.
report thisStephen Roach
Aug 11, 2010 at 11:11
I agree with Geoff, I wouldn't even consider entering bank or cc details on a non HTTPS web page.
i would also echo Ian and Skint 'if in doubt, don't do it'
report thiswilliam richardson
Aug 11, 2010 at 11:23
why aren't we being told which bank??
report thisJohn H
Aug 11, 2010 at 12:29
Take out a new additional credit card and insist on a low limit (mine is £1000) and use that for internet payments but also take the precautions mentioned above.
report thiscolin macdermott
Aug 11, 2010 at 12:50
well done John H you are spot on i did that 5 years ago after a dubious bid on E-bay.
report thisGerry Walker
Aug 11, 2010 at 14:14
John H is right with his advice. I do the same. I have a card only for Internet purchases and this has a low limit. The card company are also sharp at spotting the unusual - even when it is down to me. I once had the card locked because I had made two software purchases that were downloads for a US site and therefore charged in dollars. The card company thought this suspicious and blocked the card until I contacted them. The card companies do have good measures in place - and they need them. There is far too much made of virus and malicious code stories. Spam is the only means for these people to get into your computer and if you use Windows Vista or later it should kick in whenever software tries to install. You should not get problems this way - but no one should ever click through a link on an email that came unsolicited.
report thisPeter Davis
Aug 16, 2010 at 08:03
Natwest will, on request, put a limit on a card which cannot be exceeded.
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