"Phishing" and money laundering

Victor

http://www.garda.ie/Controller.aspx?Page=4324

“Phishing” of Bank Accounts by means of Internet Trojan Malware.

Never divulge security or identity detail over the internet. Banks will never request this information over the internet

In recent months there has been an increase in the proliferation of Phishing attacks that attempt to surreptitiously obtain peoples username and passwords for the purpose of bypassing the authentication information the banks have in place in the us of internet banking. Since June 2009 the Garda Bureau of Fraud Investigation has been conducting an investigation of malicious programmes known as Trojan malware.

• The purpose of these attacks is to transfer money from the customers bank account to another account with the same bank which is referred to as a “Mule” account. This money is then immediately withdrawn from the “Mule” account. This mule account holder has agreed to allow their account to be used and they agree to do so for the payment of 10% of the amount transferred.

• The “Mule” account holder then send the money abroad by means of cash remittance services.

• The individual loss for each account varies but is usually between €3,000 and €5,000 for each bank customer.


With other police services in Europe and elsewhere this investigation is targeting the operators of this trojan malware and in Ireland individuals that have operated mule accounts.

At this time 19 people suspected of operated “mule” accounts have been interviewed as part of the investigation. Computer equipment and other evidence have been seized. One person has been charged with a theft offence, and others are expected to be charged in due course. As the investigation is ongoing other suspects are being sought for interview.

Any person who allows their bank account to be used as “Mule” account in this manner is liable to be arrested and charged with a criminal offence. People should not act on request to allow their bank accounts to be used in this way.

The Garda Bureau Fraud Investigation is working with the financial industry to investigate and prevent this activity and the actions taken so far have resulted in considerable savings to financial institutions and their customers.


Advice to the Public:

• Always Keep Computer anti Virus, Anti Spy ware, and Firewall software functioning and up to date.

• Never divulge security or identity detail over the internet. Banks will never request this information over the internet.

• If you use internet banking, regularly check your transactions and report any concern you may have to your bank or the Garda Siochana, and act on the security advice which your bank provides.