Online fraud can happen to any business. In 2015, small businesses losses to fraud were estimated at over $23 billion. And when it does happen, it is not just the money that is lost; there is also the reputational cost and the long-term health of the company.
A few days ago, Diamond Bank sent a friend a message regarding fraud emails being circulated to customers. In that email the bank warned, “Diamond Bank will never request for your account information or an update of your personal banking details including BVN via e-mail or telephone.”
Customers were asked to “disregard and delete” such emails “as these are scams emails intended to defraud you.” What that alludes to is the level of sophistication cyber criminals have reached. They have become so smart that the only way to stay ahead of them is to stay familiar with the latest and not so smart cyber scams. You must always be on your guard.
One of the latest methods is what Diamond Bank and a couple of other Nigerian banks are warning their customers about – emails that ask you to divulge banking details by updating them via a link. On several occasions the emails might even bear remarkable resemblance with the design and logo of your financial institution.
Usually links are attached to the scam emails. Once you click that link even without completing the request, the person on the other side may gain entrance to sensitive documents or plant a malware on your system. A malware refers to a variety of forms of hostile or intrusive software, including computer viruses, worms, Trojan horses, ransomware, spyware, adware, scareware and other malicious programs. Sometimes the malware are only introduced in your account without carrying out any action. In that case it could be waiting for the right time to strike on your database or bank account.
Recently, there was a report that a malware was asking computer users to take a selfie with a personal ID, for instance, taking a selfie with your drivers’ license and upload online – perhaps on a social network. It also tried to trick them into providing answer to the common question a bank usually asks “What’s your mother’s maiden name?” This is why regular security training is important for every member of staff – no matter their level in the company. If it is too expensive to bring an expert, there are many articles and videos that can come in very handy.
Another method hackers are using is your USB stick or flash drives. Intel Security technicians reported recently that they have been finding ransomware being transmitted through USB sticks. A ransomware is a type of malware that shuts down everything in your computer once it gets a hold of it. You will lose access to your files until you pay a cash ransom to the hacker who sent you the ransomware. Thus it is important you limit share of your flash drive.
Finally, an email with links to youtube.com is another method that leaves you at risk of internet scams. Con artists are leveraging YouTube’s appeal to all ages. They will sometimes forward emails with a link that leads to a YouTube video or rather it looks like it is leading you to a YouTube video, instead it takes to a page that ask you to sign up or register.
