Internet Banking Fraud Warning Issued

Gardaí have issued a warning over an increase in the proliferation of so-called Phishing attacks on bank account holders.

These attempt to surreptitiously obtain peoples username and passwords for the purpose of bypassing the authentication information the banks have in place in the us of internet banking.

Since June 2009 the Garda Bureau of Fraud Investigation has been conducting an investigation of malicious programmes known as Trojan malware.

This week officers underlined that the purpose of these attacks is to transfer money from the customers bank account to another account with the same bank which is referred to as a 'Mule' account.

They said this money is then immediately withdrawn from the account and the mule account holder has agreed to allow their account to be used and agreed to do so for the payment of 10% of the amount transferred.

"The account holder then send the money abroad by means of cash remittance services," continued a statement.

The individual loss for each account varies but is usually between €3,000 and €5,000 for each bank customer, according to the specialist detectives.

With other police services in Europe and elsewhere this investigation is targeting the operators of this trojan malware and in Ireland individuals that have operated mule accounts.

To date, some 19 people suspected of operated 'mule' accounts have been interviewed as part of the investigation.

"Computer equipment and other evidence have been seized," continued a police statement.

"One person has been charged with a theft offence, and others are expected to be charged in due course.

"As the investigation is ongoing other suspects are being sought for interview."

The Garda Bureau Fraud Investigation is working with the financial industry to investigate and prevent this activity and the actions taken so far have resulted in considerable savings to financial institutions and their customers.

(BMcC/GK)