Phishing attack and online fraud

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Phishing attack and online fraud

There is an increase in the number of phishing attacks and online fraud. Vigilant users have sent through a number of e-mails highlighting these attempts. The company does try to block as many of these e-mails and sites as possible, however, at times, an e-mail does slip through. It is important to be able to identify these attacks when they do occur.

Phishing attacks use e-mail or malicious web sites to solicit personal, financial and PIN or password information. Attackers may send an e-mail seemingly from a reputable credit card company or financial institution that requests account information. This e-mail often suggests that there is a problem. When a user responds with the requested information, attackers can use it to gain access to the account.

Recent phishing attacks seem to be more sophisticated and
professional in nature. Better grammar is used, and the e-mails look more
authentic.  It can be very difficult to tell the fake from the real thing. Please remember to follow these very basic, yet very important rules to avoid being a victim of this type of attack:

1)            Your bank will NEVER ask you to verify any details online or via e-mail

2)            When visiting your banking site, always type the URL directly into the address bar. Never click on an e-mail link to direct you to your banking site.

Example 1 depicts a phishing e-mail from a South African
financial institution.  However, all banks including international banks have been a target of phishing attacks at some point in time.  The e-mail example
below shows the difference in the given URL compared to the fraud URL.

Example 2 portrays the unauthorised request for card verification.  Please be
vigilant when dealing with e-mail correspondence from a financial institution.

Example 1: phishing e-mail from a specific South African
financial institution

Example 2: Paygate Activation Form

From: PayGate [mailto:cardactivation@paygate.co.za]

Sent: 12 August 2011 09:36

Subject: Card Activation

Dear Card Member,

We have recently introduced a new security in conjunction
with Verified by VISA and MasterCard SecureCode to help prevent your account
from unauthorized use.

This new development will protect all card users against Internet fraudulent activities.

You are advised to download the form and fill it appropriately to match the information on file with your bank.

Thank you,

PayGate (PTY) Limited