Feeds

Phishing attack targets one-time passwords

Scratch it and weep

Next gen security for virtualised datacentres

OUT-LAW News, 11/10/2005 A Swedish internet bank was forced to shut down its website for a short time last week after its one-time password security system was targeted by a new type of phishing scam, according to reports.

Phishing usually occurs when a fraudster sends an email that contains a link to a fraudulent website where the users are asked to provide personal account information. The email and website are usually disguised to appear to recipients as though they are from a bank or another well-known brand.

However last week, according to a blog posting by Finnish security firm F-Secure, fraudsters unleashed a new version of the scam targeting Swedish customers of the online bank, part of Nordic financial services group Nordea.

Recipients were directed to several fake websites, thought to be based in South Korea, and asked not only for their account details, but also for the next password on their list of one-time passwords.

F-Secure explains that Nordea’s online banking customers are given a scratch sheet, which contains a certain number of hidden passwords. As customers use the service they uncover the next password in the list, which gives them access to their account.

According to F-Secure: “Regardless of what you entered, the site would complain about the scratch code and asked you to try the next one. In reality the bad boys were trying to collect several scratch codes for their own use.”

The bank discovered the attack last Monday night, and shut the site for around 12 hours.

This is said to be the first time that a phishing scam has targeted such a password system, which is intended to be more secure than a normal fixed-password scheme. F-Secure says it is also the first time that a phishing scam has been sent in Swedish. Normally the fraudulent emails are written in English.

OUT-LAW Phishing Conference

OUT-LAW is running a half-day conference on phishing in London on 27th October 2005 for those in financial services, other brand holders and anyone else with an interest. Speakers from APACS, Cyota, Barclays Bank and OUT-LAW will explore the threats, the laws and the possible solutions. See full Phishing Conference details.

Copyright © 2005, OUT-LAW.com

OUT-LAW.COM is part of international law firm Pinsent Masons.

The essential guide to IT transformation

More from The Register

next story
Goog says patch⁵⁰ your Chrome
64-bit browser loads cat vids FIFTEEN PERCENT faster!
Chinese hackers spied on investigators of Flight MH370 - report
Classified data on flight's disappearance pinched
KER-CHING! CryptoWall ransomware scam rakes in $1 MEEELLION
Anatomy of the net's most destructive ransomware threat
NIST to sysadmins: clean up your SSH mess
Too many keys, too badly managed
Scratched PC-dispatch patch patched, hatched in batch rematch
Windows security update fixed after triggering blue screens (and screams) of death
Researchers camouflage haxxor traps with fake application traffic
Honeypots sweetened to resemble actual workloads, complete with 'secure' logins
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.