Phishing -- Can it happen at your institution?

Phishing

Phishing -- It’s not a matter of if it will occur at your institution -- expect phishing to happen at your institution. Phishers are not dumb. They head toward where the money is – in the customer accounts at banks and credit unions.

So what does a typical attack look like? First, they swoop in, throw up an attack against the bank’s online site with a botnet to force it off line, (a Distributed Denial of Service attack is one method used) and then they send out the phishing lines to thousands of unsuspecting internet users, most of whom aren’t even customers at the bank. The average phishing web site is only up a matter of days, netting the phishers the money they then transfer out of bank accounts here at U.S. banks into overseas accounts. By the time law enforcement catches up to the overseas accounts, they’re long gone, with only a trail of IP addresses to follow.

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