Beware of frauds

Identity theft

Your identity is a personal collection of confidential data meant for your own purposes. The theft of your identity with the intention of committing frauds is an offence punishable by law. The most common technique known today is phishing.
  • Phishing is a fraudulent act where e-mails, text messages and pop-up messages are sent to users claiming to be from a reputable financial institution or e-commerce site - to get the victim to release personal information.

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Other methods

  • Skimming occurs when fraudsters capture credit/debit card numbers using a special storage device when you are processing your card.
  • Change of address: Online hackers deliberately divert your billing statements to another location by completing a change of address form.
  • Traditional theft: wallets containing bank and credit card statements and other financial information.
  • Phone fraud: fraudsters use false pretexts to obtain your personal information from financial institutions, telephone companies, and other sources.
  • Dumpster diving: fraudsters rummage through trash looking for bills or other papers with your personal information on it.
  • Fake Mobile Apps - Those are increasingly being seen in the Cyber landscape and they are designed to steal Online Banking credentials. Currently, a pair of malware, Android/FakeBankDropper.A and Android/FakeBank.A is widely being spread and spoof legitimate apps.
 
Remember:Keep your personal identifiers/details secure in a secure place and never disclose them to anyone.

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Email scams: Lottery Fraud and 419 Fraud

The lottery scam or the 419 fraud (also known as 'Nigerian Letter' scam) are attempts to lure victims into a type of fraud known as an 'illegal advance fee' - via e-mail. Millions of these fraudulent spam e-mails are sent to random e-mail addresses in view to entice people into providing their bank account numbers, by offering lottery wins, huge sums of money through bank transfers, and inviting the victims to only cover costs and fees. 

Remember:Ignore unsolicited e-mails that urge you to transfer your money.

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Investments Scams

Investment scams usually lure people into attractive investment opportunities with massive paybacks, by claiming to be a risk-free business. Victims are invited to invest and their money is stolen. 

Remember:The higher the promised return, the higher the risk! Please take time to evaluate the legitimacy of an offer.

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Business Scams

It is a marketing attempt to urge e-mail recipients to buy large quantities of a product for resale, with attractive commission fees. Once purchased, products are never delivered. 

Remember:Skip these offers. Don't send money now on the promise of a pay-off later. Be aware of whom you are dealing with.

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Virus Hoax Mail

Virus Hoaxes are false reports about non-existent viruses. Virus Hoaxes warn online users of dangerous viruses through e-mails and invite them to forward these messages to their network. These techniques are sometimes initiated to gather mass e-mail data for spam use. 

Remember: DELETE suspicious e-mails. Remember that virus writers can use known hoaxes to distribute destructive trojans as attachments.

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Malwares

Malware, short for malicious software, is software designed to infiltrate a computer without the user's consent. Malware includes computer viruses, worms, trojan horses, spyware, and other malicious and unsolicited software.

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Trojans

Trojans are a type of computer virus meant to intrude into a computer by inciting users to click on a random link sent by e-mail. As soon as the user visits the website, the vulnerabilities of the web browser are exploited to install a Trojan. Trojans are sometimes used for installing a 'keystroke logger'.

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Keystroke Logger

Keystroke logger or keylogger, tricks users into downloading a software onto their computer by either visiting a compromised website, opening an attachment or following links in an e-mail. 

This software captures the user's keystrokes, including Internet Banking login credentials, and sends them back to the fraudster.

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Spyware

A spyware secretly gathers information about a person and transfers it to advertisers or other interested parties.

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Clues that can warn of an infection or malware

  • Slow down, malfunction, display of repeated error messages
  • No shut down or restart
  • Barrage of pop-ups - even displayed when you're not surfing the web
  • Hijacked browser - display web pages or programs you didn't intend to use, or send e-mails you didn't write
  • New and unexpected toolbars
  • New and unexpected icons on the taskbar of your computer or on your desktop
Remember: If you suspect malware is lurking on your computer, stop shopping, banking, and other online activities that involve user names, passwords, or other sensitive information. Malware on your computer could be sending your personal information to identity thieves.

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Phishing

Phishing is a fraudulent act intended to lure victims into revealing their financial information. 

Phishing involves seemingly credible e-mails sent to users, claiming to come from legitimate organisations such as Banks, auction sites, or online merchant sites etc. That fraudulent, but official-looking e-mail is sent in an attempt to con users into divulging personal and/or financial information. The e-mail directs the victim to a similar-looking website of the organisations' legitimate sites where it requests him to enter, verify or update his personal and financial information in view to steal them. 
Even if the genuine website is accessed at first click, a fake pop-up window appears to make it more credible. Fraudsters also happen to lure victims into filling an online banking survey with a monetary reward at the end. These surveys are often sent through e-mails. 
Phishers also use phone and SMS to scam users into providing sensitive information.Generally, messages from phishing scams often use a sense of urgency to induce the user into taking action. 

Remember: Never respond to e-mails that request personal and financial information and never click on a link in such e-mails! No MCB staff will ask you for your Internet Banking credentials.

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Online employment scams

Recruitment of 'middlemen' is a significant step in the Phishing activity. 

In possession of the victim's information, the phishers appeal to 'transfer agents' in the same country as the victim to handle money transfers for them. They recruit individuals also known as mules - by advertising attractive employment opportunities with high rates of pay, minimal hours of work with no specific qualification required. 

Once recruited, the mules receive funds into their accounts and they are then asked to take these funds out of their accounts in the form of cash and send them overseas (minus a commission payment), typically using a wire transfer service. 

Money mules are recruited by a variety of methods, including spam emails, adverts on genuine recruitment web sites, approaches to people with their CVs available online, instant messaging and adverts in newspapers. Important Note: Beware of easy money! Learn about the company.

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