Thursday, October 27, 2005

Metropolitan Police Service - Fraud Alert

Metropolitan Police Service - Fraud Alert

E-mails are created purporting to come from bank security departments were being circulated asking for username and password details in connection with Internet banking. The email invited account holders to click on a URL (Uniform Resource Locator), which generates a web page. Unsuspecting account holders account holders completed their user name and password on the web page. Unknowingly the account holder had linked into a web server run by a criminal enterprise.

Once the user name and password have been obtained the criminal logs into the on line banking system of that account and transfers money from that account into another account from which he will be able to obtain the funds.

In order to facilitate the transfers a number of people are recruited who have accounts at the same bank as the target account. The recruitment involves advertisements on Internet forums and unsolicited emails offering jobs as ‘ money processors'. Respondents to the advertisements are in receipt of 7% commission of the monies that they handle.

Once the stolen funds were received into the money processors bank account, they were given instructions to withdraw the money in cash and then to use money transfer agents and send the money to criminal organisers.


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