The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    216.73.216.162

    Phishing Scam affects thousands of Banking App users

    Phishing Scam affects thousands of Banking App users

    Thousands of customers have been exploited by a fake mobile banking app. The customers were sent phishing scam messages by the application to trick them into giving up their login details. According to Cybersecurity researchers at Lookout, the campaign is based around a text message which attempts to maneuver the victim into visiting false websites claiming to be those of the famous United States and Canadian banks. 

    Nearly 4000 people have been reported to fall victim to the malicious links that were part of the phishing campaign. The process works by notifying the users that the bank’s security system has identified unusual activity on the user’s account, thereby prompting them to open a unique URL, followed by extracting valuable information and data from the user. 

    Although the scammers behind the attacks are not aware of the bank their potential victim is a customer of, they manage to send enough messages with the names of different banks to enough users, that some of the banks coincidently match with the right customer. Some of the customers follow the harmful link, leading to a fraudulent website that has a design similar to their bank’s original website. 

    Not only will the spoofing website extract sensitive data such as username and password from the user, but also ask other relevant security questions to confirm their identity such as asking for their card’s expiry date or double-checking the account number. This is to ensure that the fraudsters are well-equipped with all the information needed to steal the user’s account details. The account information can then be used to either make false transactions with the victim’s money or potentially to sell sensitive data to underground forums.

    Apurva Kumar, the staff security intelligence engineer at Lookout stated that the campaign showed them how convenient it was for a less computer-savvy person to get involved in phishing by gaining access to an off-the-shelf phishing kit. Using the kit, The attacker can easily target potential victims in large numbers via text messages and track performance with the simple user interface. 

    Lookout has informed all the banks that were affected by the malicious campaign and all of the phishing sites have been closed down. But there are still chances of such occurrences in the future. In order to effectively protect oneself from such attacks, one should be aware of the links sent to their mobile phones, whether through email or text message. One should instead develop the habit of proceeding to a login screen using a bookmarked link or the official website of a service they want to use rather than blindly following a unanimous link.

    Related Posts

    News

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    UK Parliament Legislates New Digital Identity Verification Services Bill

    Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Explore More

    News

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Explore More

    News

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    Explore More

    News

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    Explore More

    News

    Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations

    Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

    Explore More

    News

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    Explore More

    News

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    UK Parliament Legislates New Digital Identity Verification Services Bill

    Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Explore More

    News

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Explore More

    News

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    Explore More

    News

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    Explore More

    News

    Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations

    Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

    Explore More

    News

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started