Financial losses from Internet bank fraud hit record high Y270 bil
TOKYO —
The National Police Agency said Tuesday that financial losses from Internet bank fraud have hit a record high 270 billion yen since April. It said that 53 banking institutions have been hit by cyber-thieves.
In some cases, more than 20 million yen was withdrawn illegally from single accounts at Sony and Rakuten banks, NHK reported.
The NPA said in a report Tuesday that phishing scams (when fraudsters impersonate a business to trick you into giving out your personal information) and software viruses known as spyware were being used to target Japanese Internet banking institutions. Spyware, which usually comes in the form of an email attachment, infects a computer and collects information such as IDs and passwords without the computer owners’ knowledge. The thieves then use the information to steal money from the owners’ bank accounts.
An NPA spokesperson urged people to take measures to protect their computers against spyware.
Cybersecurity specialists recommend that consumers use one-time passwords to access their bank accounts when making a transaction, NHK reported. The password is valid for only one minute, so if a customer’s account number and static password are stolen, the thief cannot access the account. Unlike a static password, a one-time password changes each time the user logs in.
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1
Okinawamike
Cybersecurity specialists recommend that consumers use one-time passwords to access their bank accounts when making a transaction, NHK reported. The password is valid for only one minute, so if a customer’s account number and static password are stolen, the thief cannot access the account. Unlike a static password, **a one-time password changes each time the user logs in. **
Buhhaaaaa, I can't remember the password to this site half the time and the way to handle this is to change the password everytime you log in?
Gandmother would just love this! She is always asking did we put the dog out? Granny, we don't have a dog.
3
Christina O'Neill
I would think that the customers of internet banking could be hit very hard if they fail to check their accounts on a regular basis.The ATM would be my preference, but even then users need to be alert that the machine they are using has not had a skimmer installed by criminals.
1
Jan Claudius Weirauch
In Europe it works somehow, why not in Japan!
1
Johannes Weber
Europe uses a combination of one time keys and a user defined password. Either you get a list associated with your account from which one one-time password is removed each time you use it or you request the one-time password via mobile phone and use it for online banking. Decoupling the acquisition of the access keys from the terminal used for the actual transaction is key and it works fine.
0
cactusJack
You have to admit, a four digit number is a pretty lame password.
0
Fabio Carletti
****Here is a solution for you: http://www.malwarebytes.org/products/malwarebytes_free
-1
Disillusioned
Spyware is just another reason why I use a Mac.
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