Wednesday February 16, 2011
Rise in scams targeting e-banking accounts
By P. ARUNA
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 gullible 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 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.
Expert: Many Net users are easy prey
E-banking scams on the rise