IBM Security

IBM Detects a New Phishing-cum-Phone Call Cybercrime

According to IBM a unique and well-planned phishing-cum-phone call based fraud system has been in operation for some time, which as robbed a number of US businesses off over a million dollars.

The company has detected the source of this online phishing racket, named as The Dyre Wolf, to a well-managed and financed Eastern European group of hackers. It is a warning sign for businesses worldwide that they cannot just rely on their age-old anti-malware and anti-phishing programs.

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Although the fraudulent system may not be as large as other cyber threats, it is the very nature of this scheme that concerns IBM and other online security professionals.

IBM Security

IBM has announced that these cyber criminals have been sending out spam emails to company employees with attachments that could deliver the Dyre malware to their systems.

The malware docks itself onto a computer system and waits for the user to reach a login page, such as the login page of a bank’s website. It will then create a fraudulent screen informing the user about issues with the bank’s website and provides a phone number to make a call.

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Once the user makes a call to the number, the operators will seek bank login information from them and process instant wire transfers from their accounts.

The organization of live phone operators behind this fraud scheme has intrigued security experts at IBM Security. It is a clear indication that there is a well-organized and well-planned group operating behind this cybercrime.

According to IBM, never before has such a fraudulent system been detected earlier. However, the company hasn’t listed any names with regard to the victims. What makes the new threat more intriguing is that the money is transferred through a series of bank accounts to prevent detection.

The group is also capable of affecting the web accessibility of users so that they will not be able to detect login theft until the damage has been done.

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According to IBM the first line of defence against this threat is to educate all workers not to download any suspicious emails with attachments and to never disclose their banking information to anyone over the phone or online.

  1. Hi NIsha Ma’m
    It is a very quiet and mabli institutional trust, the skies easily we can solve any problem as the social network Facebook. We would be very cyber crime can benefit from the information I have given you very well, it is a lot of work has continued thanks

  2. Hi ,
    Good Step of Ibm and it is good work of ibm .User will Happy
    Thanks for Sharing with use keep up it
    Have a Nice week Ahead

  3. Nisha Pandey

    Hi Bilal,

    Welcome! Yes, IBM is doing a great job by detecting such threats and keeping everyone informed.

    You too have a great week!

  4. Nisha Pandey

    Yes Leena,

    The guys at IBM have been doing a lot to prevent cyber attacks.

    Have a great week!