Many local banks have repeatedly warned their customers about sophisticated hi-tech scams that could leave victims with little or no protection from their banks, Tien Phong newspaper reports. A customer withdraws cash at an ATM The Bank for Foreign Trade of Vietnam (Vietcombank) said in a notice that some of its customers have recently transferred money to unintended persons, after their customer emails were hacked. The scam goes like this. Thieves spy on emails sent between customers and their partners, and then illegally change bank details on transaction documents so that money could be sent abroad. Crooks are targeting small and medium-sized businesses which have low levels of security in their network management systems, or have not put in place sufficient regulations on safe email usage. Following the money transfers, the victims have asked Vietcombank to retrieve their money from foreign banks, especially in China, Malaysia, the United Kingdom and the United States. However, … [Read more...] about Local banks warn of online fraud
Sending bank details by email
THE HAGUE: Cyber criminals are increasingly accessing ATM machines through the banks' networks, with squads of money mules standing by ready to pick up the stolen cash, Europe's policing agency warned on Tuesday (Sep 26). An ATM machine is viewed in New York, just one of the many that were used as cyber crimes around the world by thieves hacking into debit card companies, scrapping withdrawal limits and helping themselves from cash machines. (AFP PHOTO/TIMOTHY A. CLARY) "The malware being used has evolved significantly and the scope and scale of the attacks have grown proportionately," said Steven Wilson, who head's Europol's EC3 cyber crime centre. Previously criminals used physical 'skimming' devices or USB sticks or CDs to install malware within ATMs but since 2015 "a new and unnerving trend ... has been picking up speed," … [Read more...] about Europol warns banks ATM cyber attacks on the rise
THE HAGUE: In one of the biggest takedowns to date, police across the globe have smashed a massive criminal network providing online services including malware attacks that infected half a million computers worldwide, Europol said on Thursday (Dec 1). Known as "Avalanche", the criminal network "was used as a delivery platform to launch and manage mass global malware attacks and money mule recruiting campaigns," Europe's policing agency said in a statement. The network would be contacted by other criminal groups to send emails to specific victims containing malware to steal bank details and passwords as well as to conduct so-called distributed denial of service (DDos) spam attacks. "Victims of the malware infections were identified in more than 180 countries," it said from its fortress-like headquarters in The Hague. The damage caused ran into "hundreds of millions of euros" and in Germany alone - where the gang's activities were first detected - some £6 million (US$6.3 million) … [Read more...] about Global police smash huge online crime network: Europol
Vietnamese, Japanese agencies boost links A memorandum of understanding (MoU) was signed on April 4 between the Government Inspectorate of Vietnam and Japan's Ministry of Internal Affairs and Communications in Tokyo, towards upgrading their cooperation and further promoting the relations between the two countries. The signing was part of Chief Government Inspector Huynh Phong Tranh's working visit to Japan from April 2-6. At a meeting with the Japanese Minister of Internal Affairs and Communications Sanae Takaichi in the morning of April 4, Chief Government Inspector Huynh Phong Tranh appreciated the coordination between the Japanese ministry and the Japanese International Cooperation Agency in organising training courses to strengthen the capacity of Vietnamese inspectors over the last two year. The two sides looked back to their recent links, while discussing cooperation orientations in the future. Tranh said he hopes for a strengthened connection between his agency and the Japanese … [Read more...] about Social News 5/4
Confronted with a plunge in its stock markets last year, China's central bank swiftly reached out to the U.S. Federal Reserve, asking it to share its play book for dealing with Wall Street's "Black Monday" crash of 1987. The request came in a July 27 email from a People's Bank of China official with a subject line: "Your urgent assistance is greatly appreciated!" In a message to a senior Fed staffer, the PBOC's New York-based chief representative for the Americas, Song Xiangyan, pointed to the day's 8.5 percent drop in Chinese stocks and said "my Governor would like to draw from your good experience." It is not known whether the PBOC had contacted the Fed to deal with previous incidents of market turmoil. The Chinese central bank and the Fed had no comment when reached by Reuters. In a Reuters analysis last year, Fed insiders, former Fed employees and economists said that there was no official hotline between the PBOC and the Fed and that the Chinese were often reluctant to engage at … [Read more...] about China central bank to Fed: A little help, please?