The comfort of being able to check or transfer funds from your home or office using a Tablet, a smartphone or a computer has been very useful for many people, but has also brought new risks of identity theft and high-scale robberies.
There’s a large variety of “channels” to become victims of this kind of robbery, with two of the most frequent being “social engineering” (being deceived by people devoted to extracting information from someone in particular), and “employee fraud,” where employees take clients’ information and use for their own benefit.
For Helcio Beninatto, expert in the subject, the two most widely used examples of “electronic robbery” are:
- Man in the middle: “The attacker uses a program to “trick” the server pretending to be the client, and tricks the client as well by simulating to be the server. This type of program can be used to obtain a client’s access credentials or to allow the attacker to modify the message before sending it, allowing him/her to steal funds.”
- Man in the browser. “A variation of the man in the middle in which malware intervenes between the user and the browser to modify the transaction information”.
Ways to prevent electronic robbery
One of the best ways to prevent this type of event is by getting effectively informed on how not to risk your bank account information, contact numbers, funds or transactions.
Another way is to avoid overexposing your account passwords; attackers often pose as your bank. In these cases it’s best to call your bank to verify the call you just received.
As the owner or manager of a company working with clients required to provide banking information, you should establish strict policies with your employees, trying as much as possible to keep them from having contact with the customers’ database.
Source: Banca & Negocios