Microsoft word - fraud awareness article #3 spam roles in the internet banking v1.1.docx

Fraud Newsletter 
 
 
“Spam” Damaging Roles In Internet Banking Fraud
Wednesday, February 23, 2011 
Fraud awareness Bulletin No.2 
Virtual Banking, Cards & Loyalty Services 
 
SPAM
The term SPAM is associated with a variety of meaning. With regards to virtual world, it refers to
unsolicited emails. Most commonly received are emails about Viagra, pharmaceutical products and
adult products. The subject of spam is cleverly composed to draw attention. Thankfully, with the
advancement of email filtering system, spam is being ousted from user mailboxes. This has left the
“spammers” with no other option except to switch their focus from direct advertisement and affiliates
program to internet banking fraud.
Internet Banking
The advancement of email filtering system (such as Bayesian spam filtering) depends very much
on the keyword being used by the spam email. The volume of spam has helped the system to
improve itself as there are tremendous amount of spam emails that can be analyzed. On the
contrary, this system is hardly effective in detecting internet banking spam due to the volume
collected on the keyword is relatively low. The intention of any spam remains the same, that is to
lure user to click on the link provided in the spam, but this time around, instead of getting affiliates
commission on per click on advertisement, they wanted to infect users’ computers with virus that can
steal internet banking usernames and passwords.
Staying safe online
Staying safe online is about understanding the risk in relation to information and instructions
displayed on the webpage. It is about using your common sense towards what is logical and what is
not
.

Figure 1 : Illustration of spam email
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23 February 2011 
Fraud Newsletter 
 
 
Refer to the illustration above. This kind of message is normally sent to you via e-mail. If you are not
an internet banking customer of i-Muamalat, you might just ignore the e-mail. However, if you are a
user, your first impression and instinct might urge you to follow the instructions as displayed.
However, if you stop to think for a while maybe common sense will prevail. Is it logical that the bank
would lock your internet banking ID if you had just log-in within the last few hours/days/weeks and
you had never entered you password incorrectly? Secondly, is it possible that the bank knows your
email address even though you have never mentioned it to them? Our advice is should you receive
this kind of e-mail, it would be better to contact the bank ASAP. Never respond or follow the
instructions displayed in the e-mail.
Additionally you can equip yourself with basic knowledge about the link in the email. Follow the
following instructions:-
1. Move your cursor to the link and left click on the link that says login to restore your account then
click on its properties as showed in the picture.

2. Upon comparing the Address (URL) to the genuine i-muamalat website, you will notice that the
spam email is actually trying to redirect you to a fraudulent website
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23 February 2011 
Fraud Newsletter 
 
 
In other words, the characters/words within the URL Address will tell you whether it is genuine site or not especially when there are additional names on the last dot or it is longer than the genuine address bar. To sum all up.always be on alert and our suggestion is for you to go through the above authentication approach for “genuine” websites, especially on internet banking sites. Figure 3 : Link that will redirect you to different place
Figure 2 : Genuine i‐Muamalat web address
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23 February 2011 

Source: http://www.muamalat.com.my/downloads/media-room/articles/Fraud-Awareness-Article3-Spam-roles-in-the-internet-banking-v1.1.pdf