what is phishing email and what are the techniques used for phishing scams

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what is phishing email and what are the techniques used for phishing scams

As we have started using online services such as shopping, banking, money transfer our life become so trouble-free. Digitalization brings the easiness in our day to day activity. Now you can send money to someone sitting at far away from you within a few hours or you can buy any item just sitting at your couch. Technology made life so simple. But, if you remember the famous quote “Great power comes with great responsibility” perfectly fits in the case of technology adoption. Today we will see, what is phishing email and what are the techniques used for phishing scams.

 

Now criminals have also started using technology and things to carry out their fraudulent activity. Here we are going to talk about the phishing emails and technique used in online scams.

The most common scams that are familiar to us is phishing scams and impersonation activity. In the case of phishing, an attacker or fraudster tries to represent himself as an authentic entity. A most common example is a copy of banking website which is created by the fraudster in order to cheat a loyal customer of that particular bank.

To know more about Phishing scams follow this link —  Factors that lead to Phishing scams

 

what is phishing email and what are the techniques used for phishing scams

 

  • The hacker creates a fake website of the target bank which looks alike as the original website and sent emails to the customer of the bank luring them to provide the credentials. [Mostly the fraudster hosted the website with the help of their associates from foreign countries like Russia, Nigeria etc.]
  • Now after that, the fraudster changes the customer personal contact number to their own so that the transfer of funds through victim accounts to beneficiary accounts goes unnoticed.
  • The beneficiary account in which the funds were transferred were fake accounts which were opened by giving fake documents, like fake passports, Fake Pan Cards etc.
  • when the customers fell into the trap and give their Internet banking password and username, the frauds were done in three forms:-
    a) The account to account transfer from the victim’s account to an account own by the attacker.
    b) For recharging the mobile phones.
    c) For online shopping carried out by net banking facility.

 

Our constitution has given the law identifying with security under the extent of Article 217. Its elucidation is discovered lacking to give sufficient assurance to the information or data. In the year 2000, an exertion has been made by our assembly to grasp issues identifying with the computer system under its IT Act, 2000. Be that as it may, there is no particular arrangement under the Act which manages the Phishing tricks. there are some areas of the Act are appropriate to the Phishing scams.

Section 66: As we have discussed earlier, phishing is done by altering some information or making same luring web pages which looks like the authentic website. Then the account of a victim is compromised by the fraudster, which is not possible without altering or deletion of data in the account of the victim stores on the bank server. Therefore, this demonstration comes under the area of 66 of Act.

 

SECTION 66C

In the phishing email, the fraudster pretends himself as the real banker and uses the unique identifying feature of the bank or organization say trademark, Logo etc.

SECTION 66D

In the phishing email, the fraudster shows himself as the genuine financier and uses the extraordinary distinguishing highlight of the bank or association say trademark, Logo and so forth.

 

SECTION 72 A

Here in most cases, victims or complainants try to take action against the bank as bring them out in the definition of “Intermediary” given in the Information Technology Act.
Mostly, when a victim tries to file a complaint against the bank, somehow manages to succeed in getting the compensation for the losses.

 

 

 

 

 

 

 

 

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