Online Security Risks

Below, you will find information on the currently most common types of online security risks.

Email Scams

Internet banking consumers have recently been targeted by a range of email scams involving various hoax emails. The hoax emails have been sent to large numbers of email addresses in anticipation of at least some reaching users of online banking facilities. Because of the large number of emails involved and the random nature of the hoax, these frauds are often called ‘phishing’.

The hoax emails seek to trick online banking consumers into disclosing confidential financial information such as their Internet banking login and password details, thereby providing the perpetrators of the fraud with illegal access to their accounts.

Email Scams - Additional Information

  • The emails can look very professional and give the appearance of coming from a legitimate financial institution. Techniques that have been used so far include:
    • asking consumers to update their login and password details for ‘security’ purposes. The users are directed to an authentic looking but false website. In some cases, the website address is also very close to that of the targeted financial institution. When users try to login to their accounts, their login and password details are captured;
    • luring users into opening emails or attachments that secretly install ‘Trojan’ virus programs. Trojans are computer programs that secretly install themselves on a user’s computer without the user even knowing about it. In the case of online banking fraud, Trojans are used to log and capture key strokes (such as Internet Banking passwords, etc);
    • falsely alerting consumers to suspect transactions on their account. If the recipient follows the link embedded in the email, a virus covertly installs a Trojan program that logs key strokes; and
    • directing a user to a false website (such as one email purporting to come from the federal police) where a Trojan program is installed to log key strokes.
  • Please note: Family First Credit Bank will:
    • never ask for your Internet Banking login details or credit card details via phone or email
    • never use email to send you a link to an Internet Banking login page
    • never ask you to communicate your passwords to us in any form

Identity Theft

Identity theft occurs where a criminal obtains the personal details of an individual to masquerade as that individual and, typically; transfer funds, obtain cash, secure loans and other financial benefits. The individual is then left to deal with the debts so incurred along with the associated legal implications.

Identity Theft - Additional Information

Job Scams

Members should also be alerted to a number of fraudulent job scams advertised on the Internet which entice users to act as money transfer agents for a third party. Consumers are duped into using their own accounts to transfer money for third parties as part of an ostensibly legitimate business transaction for a commission based on a percentage of the transfer. In fact, they become part of a money laundering operation for transferring stolen money. Again, these false job websites appear very professional and can be very convincing.
Members should:

  • exercise extreme caution with any online job offer where you are asked for your personal and banking details

Useful Links and Tools

About Online Security
Our Online Communication Practices
Improving your Online Security
Online Security FAQs
Our Online Security Practices

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