Cyber Criminals Use New Method To Steal Funds From Bank Customers’ Account

Credit Card Fraud - Nordic IT Security

According to a report of the Central Bank, this year, Bank fraudsters have a new way of stealing from Bank cards, they pose as Bank employees using the technology to substitute phone numbers. Special IP-telephony services allow them to perform substitution of numbers, or scammers disguise the number using the letters OOO instead of 000 and so on.

It is noted that the two tools help the scammers to commit thefts. The first is access to personal data. Only in the last six months, the Central Bank specialists found 13 thousand ads for buying or selling names and phone numbers. Attackers, who got personal data, can easily simulate a conversation as an employee of a credit institution, insurance company or government agency.

The second tool of scammers is special programs that allow them to disguise as the official number of the Bank. The Central Bank recognised the falsification of Bank numbers as a new massive way of stealing money from the population.

According to the Bank of Russia, this summer the number of fraudulent calls to customers increased dramatically, and in June-August, the regulator sent data to Telecom operators on more than 2.5 thousand numbers from which calls to customers of Banks were received. However, only 200 numbers were blocked.

Experts believe that blocking numbers is not the best way to combat fraud. It would be more correct to stop the leakage of personal data from Banks and other organizations.

Thefts are mostly associated with the substitution of phone numbers, and Telecom operators refer to the lack of norms in the law. We will initiate changes to the law on communications, – said Artem Sychev, the First Deputy Head of the Department of information security of the Central Bank.

Reference:
https://www.ehackingnews.com/2019/10/cyber-criminals-use-new-method-to-steal.html

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