The mechanics of online banking fraud – an example
I reprint below with links deleted, a job posting from Monster.com. This looks ostensibly like a legitimate employment listing but read on.
UPDATE: I have rearranged the name of the company used in this fraudulent email, because I am being inundated with search hits. I assume this is law enforcement looking for these guys, but its skewing my stats. incidentally if this is law enforcement, its pretty heavy handed, and surely the bad guys aren’t that stupid, or are they!
This is from a crime syndicate, and they are recruiting individuals to launder the results of phishing. Here is how it works: Once you are hired you open an account at, in this case the Royal Bank of Canada. They (the bad guys) who have stolen consumers online banking credentials, send money using email money transfer to you. You then withdraw the cash, and immediately wire it using Western Union to the bad guys, probably somewhere in Eastern Europe.
The bad guys were able to steal customers credentials using software embedded into their computer (key loggers) which was downloaded at the same time as porn, music or while visiting some questionable site. The other common way they get consumers credentials, is using phishing emails, where they pretend to be Citibank, or Paypal etc, and ask you to log in to re-activate your account. At that time the consumer is simply sending their username and password to the bad guys.
They prey on low income people, or people who need fast cash, particularly students. If you hear of anyone with such a job alert them to this illegal activity immediately.
Moral: Always be aware of where you are on the internet, be suspicious of every email with a hyperlink, be suspicious of any download site, and think twice about those jokes and attachments from your friends with the “joke of the week”.
PS .. turns out a search shows up a company called S1_a1_f1_e1_M1_e1_d1 Inc in San Diego. They appear legitimate, and I am sure will have no association with the email below, ostensible from Europe.
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