Type in a simple web address and you can access your bank account for almost anything. But this cool convenience also has its own set of risks. Here is the modus operandi of cyber crooks
Starts with a spam
You receive an email with an enticing subject line. You open it promptly and malicious software installs itself on your computer, secretly. These messages can follow any route: email instant messaging, SMS or social networking sites. The email may actually look like a genuine message from your bank, financial institution or a popular online portal.
Passwords get logged
The software absorbs the PC into a botnet (a network of infected computers doing the bidding of a cyber criminal) and logs your keystrokes.
Bank attack
So the next time you visit your bank’s website and type in your username and password, the software transmits them to the crooks! They can sue this username and password to log into your online banking account and make money oops, merry!
How money is transferred
The money is transferred into the account of an ‘assistant’, who’s actually the money mule. He withdraws the cash, takes out his commission and wires the money. After this, the money is sent back to the ‘employer’, who is very often on the other side of the globe.
Just be cautious. Take care