"UK businesses, charities and other high-value bank account holders are being urged to exercise caution following warnings of a sophisticated scam. Fraudsters are initiating contact via phone calls, subsequently gaining control of victims' computers and online banking platforms to systematically drain their accounts. Intelligence from the Cyber Defence Alliance (CDA) reveals that these criminals are employing specialised software to steal tens of thousands of pounds, with some individual account losses exceeding 1 million."
"If the bank sends a security code such as a one-time password to the victim's phone, the fraudster tricks them into sharing it. This allows the criminal to move money or set up new payees. In some cases, victims are even persuaded to set up call forwarding, which blocks genuine calls from their bank. Being asked to call back on a number provided by the caller could be among the red flags to watch out for."
UK businesses, charities and other high-value account holders are being urged to exercise caution after a sophisticated scam targets phone contact to gain control of computers and online banking. Fraudsters call or text, pose as bank fraud teams, and direct victims to realistic fake bank websites. Victims are prompted to click chat buttons that secretly install software granting remote access to devices and online banking. Criminals trick victims into sharing one-time passwords, establish new payees or move money, and sometimes persuade victims to set call forwarding to block genuine bank calls. CDA, Cifas and UK Finance are coordinating awareness efforts ahead of International Fraud Awareness Week, November 16–22.
Read at www.independent.co.uk
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