PHISHING TRAP!

RISE IN SCAMS TARGETING E-BANKING ACCOUNTS.
Petaling Jaya : If you have an Internet banking account, like many do in this modern IT era, take immediate notice.The number of Malaysians falling prey to Internet banking scams is increasing by the day.Cyber criminals are on the prowl looking for account holders guillible enough to reveal the two most vital pieces of data - their username and password.

They use fake banking websites, known as "phishing" sites, to try and trap the account holders.If you fall for it, you can have your entire account wiped out in minutes, depending on the amount of money you have and the transfer limit set by the bank.According to CyberSecurity Malaysia, a total of 1,426 reports were made last year compared to 634 received in 2009.It is said at least 900 unique phishing sites targeting local financial institutions have been discovered.The body said those who fell prey are usually new Internet banking account holders and people who don't understand Internet security.

Many Internet users,especially beginners, tend to believe everything they read in e-mails and become easy prey to cyber criminals out to steal their personal and financial information."And most Malaysians are unable of how to protect themselves online," said criminologist and Malaysian Association of Certified Fraud Examiners president Datuk Akhbar Satar. He said although they enjoyed the convenience of online banking and shopping, many failed to take the necessary precautions to protect their confidential information.Akhbar said most scam e-mails and fraudulent banking websites were professionally designed and difficult to identify.

"It is best to avoid clicking on any links provided in the e-mails," he advised, adding that users should contact the bank or retailer by phone to verify if the e-mail was genuine.Akhbar also attributed the rise of online banking fraud in the country to the lack of enforcement by authorities. He said criminals targeted Internet banking as it was the easiest way to steal cash and also the most difficult to detect. Unlike the "real world", he said cyber criminals did not need to deal with competing groups or individuals."Complex criminal activity, such as robbing a bank requires organising several people and to a certain extent equipping and training them," he said,adding that in the cyber world, the risks were much lower...