Transcript OVER VIEW OF ECONOMIC OFFENCE

OVER VIEW
OF
BANKING FRAUDS
SK.MASTAN VALI, B.COM, LLB, MCA
ADVOCATE, HIGH COURT OF A.P., HYD
TYPES OF BANK FRAUDS
Theft of mail
passwords
OFF-LINE
Theft of Debit
Credit card
passwords
Theft of cheque
books
FRAUDS
(IDENTITY THEFT)
Phishing or
spooling
ON-LINE
Requests via fake
emails, websites,
pop-up windows
BANK FRAUDS - PHISHING
MEANS
Send fake email msg
requesting updation of
details
PIN Number
PHISHING
Internet Banking
Password
REQUEST FOR
FOLLOWING
INFO
Bank A/c No, Debit
Card No., Credit Card
No.
Other verification
parameters, like; your
date of birth, mother's
maiden name etc.
BANK FRAUDS – COUNTERFEIT WEBSITES
Direct to fake website id and if you enter
details of your original login, they commit
theft of the same
Request information with a plea of
updation of information through fake email
ids
COUNTERFEIT
WEB SITE
After stealing your credential data, they will
send a expire page to divert attention
This type of fraud is called 4-1-9 scam since
4-1-9 is the section of Nizerian Penal Code
BANK FRAUDS – MOST COMMON FORMS
Offer of disbursement of
money from wills
ON-LINE
BAITS
Contract frauds ( purchase of
goods and services)
Purchase of real estate in other
cities
Transfer of funds from overinvoiced contracts
BANK FRAUDS – MOST COMMON FORMS
There is always a sense of
urgency
ON-LINE
BAITS
There are many foreign-looking
documents
Often bank letterheads and
account numbers are requested
There is variety or processing fee
or bribes that must be paid
BANK FRAUDS – MODUS OPERANDI
They use the stolen details to submit
request to change mobile number
MODUS
OPERANDI
Transfer the amount to another
victims whose credential have been
stolen and withdraw from it
BANK FRAUDS – PRECAUTIONS
Before login – verify whether address of website starts
with ----https:// or not
https – means secured
Verify whether ‘lock’ icon is shown on bottom or not.
PRECAUTIONS
After transaction, clear the cashe and close the windows
Tools-Internet Options-General-Delete Files at Temporary
Internet files.
If you suspect theft of passwords or details, immediately
change the passwords and other details
INVESTIGATION OF CASES
INVESTIGATION