Phishing Mail Targets ICICI Customers

by CXOtoday Staff    Jul 06, 2006

Anti-virus and content security software provider, MicroWorld Technologies has discovered that a phishing mail in the name of ICICI bank has been targeting the bank’s customers aiming to con them into revealing their sensitive financial information.

The spam mail reads that the bank is upgrading to a new SSL server to insulate customers against online identity theft and other criminal activities. Users are then asked to confirm their personal banking information by clicking on a corrupt link given in the mail. Once they click, they are then taken to a bogus website looking identical to the original one, where they are made to furnish confidential banking details such as account number, password and PIN number.

To make the mail look legitimate, it also warns that if the form is not completed, their online bank account will be suspended till further notification

The cyber form of identity theft using fake spam emails and fraudulent websites is called phishing. The stolen information via phishing can be used for sophisticated online robbery, identity theft and other Internet related crimes.

It is by and large a new phenomenon in India as compared to the US, South America and Europe. Indian online community is generally considered to be little more naive and gullible than the rest and hence tend to fall prey to such fraudulent tactics very easily.

Talking about why phishing is on the rise Sunil Kripalani, VP, Global Sales & Marketing, MicroWorld said, “More and more Indians are logging on to online banking and plastic money thanks to a booming economy and the IT revolution. An increasing number of such attacks should be anticipated in India and elsewhere, where economies are on the course of resurgence, as scamsters know that these targets are softer in comparison.”

According to Kripalani, along with deploying software that provides effective spam control, anti-phishing ability, and campaigns for generating widespread user awareness is going to be the key to fighting the phishing menace.