Feeds

BoI customers fall victim to phishing scam

Scammers net €113,000

SANS - Survey on application security programs

Bank of Ireland customers have been hit by a new phishing scam, which has already cost some of its customers more than of €110,000.

The bank issued a security alert; however, the bulletin came too late for several BoI customers. In total, some €113,000 is believed to have been lost by account holders responding to the fake email.

One customer claims to have lost over €49,000 after inadvertently handing over bank details to a bogus website. Others reported losses from between €5,000 to €16,900.

However, the bank would not confirm any details of the reported losses, as it refuses to discuss individual cases. Gardai have launched an investigation into the fraud.

Phishing attacks attempt to fool internet users into revealing sensitive information, such as log on codes and passwords for online banking, using emails and websites that appear to be legitimate.

In a statement, the bank said: "Bank of Ireland takes internet fraud extremely seriously and works closely with the Gardai to close such sites immediately. All reported incidents where customers have responded to such an email are immediately investigated by Bank of Ireland and reported to the Gardai."

These measures may not be enough for the victims of the fraud. According to recent reports, BoI has refused to compensate its customers for the missing cash. It could now be facing a compensation claim from those hit by the losses, and a complaint has been made to the Ombudsman for Financial Services.

Bank of Ireland, like other financial institutions, is no stranger to phishing scams, and has previously warned customers that it does not ask for account details in such a way and that they should not give out confidential information, such as log-on details, to any website that requests it.

Other Irish institutions have been the target of phishing attacks in the past, including Ulster Bank and AIB. However, previous reports indicate that the success rate for the scammers was quite low. The financial institutions have attributed this to the high level of awareness of the dangers by customers.

Certainly, BoI is not the only bank to have been hit in recent weeks either; AIB has already issued an alert to its customers regarding a new phishing scam in the past few days, while online bank RaboDirect is also warning of a website masquerading as the log-in site for the bank. An email asking customers to update their details at the site has been doing the rounds.

Copyright © 2006, ENN

Combat fraud and increase customer satisfaction

More from The Register

next story
Parent gabfest Mumsnet hit by SSL bug: My heart bleeds, grins hacker
Natter-board tells middle-class Britain to purée its passwords
Obama allows NSA to exploit 0-days: report
If the spooks say they need it, they get it
Web data BLEEDOUT: Users to feel the pain as Heartbleed bug revealed
Vendors and ISPs have work to do updating firmware - if it's possible to fix this
Samsung Galaxy S5 fingerprint scanner hacked in just 4 DAYS
Sammy's newbie cooked slower than iPhone, also costs more to build
Mounties always get their man: Heartbleed 'hacker', 19, CUFFED
Canadian teen accused of raiding tax computers using OpenSSL bug
Snowden-inspired crypto-email service Lavaboom launches
German service pays tribute to Lavabit
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.