Business | Updated Jun 18, 2007 at 12:28pm IST

Beware! Net banking may rob you

Mehak Kasbekar, CNN-IBN

Mumbai: The $6 billion global phishing fraud continues to threaten Indian banks.

UTI bank is under a phishing attack for the second time in less than two months. But the authorities continue to remain clueless about the menace.

Phishing e-mails are the latest weapon with which fraudsters are attacking your bank account.

A particular URL can take you directly to UTI bank's website. Except that it's a duplicate UTI bank website designed by 'phishers' to steal user names and passwords.

All the phishers then have to do is transfer money from your bank account to theirs.

The site has been up for over two days and despite an alert consumer bringing this to the notice of the bank and Reserve Bank of India, the site is still alive.

The fake site has been floated from a server based out of America.

The URL is being sent to hundreds customers who might have already parted with their account details thinking the email is from the bank.

UTI officials said it would take some time for the site to be shut down.

This is far from a one off incident. Last month UTI bank was the victim of a phishing attack. The Delhi police arrested four Nigerian nationals and an Indian for allegedly duping 30 customers of Rs 20 lakh.

According to data from computer emergency response team, a Government of India organisation saw 86 incidents of phishing reports in 2005 while the incidents doubled to 200 in 2006.

<table width="248" border="0" align="right" cellpadding="3" cellspacing="2"> <tr bgcolor="#AE111D"> <td height="20" valign="middle" bgcolor="#DB1524"> <div align="center"><strong>What is Phishing? </strong></div> </td> </tr> <tr bgcolor="#e7e7e7"> <td height="20" valign="middle" class="Btext11 pLeft10"> <p>&quot;Phishing&quot; involves the use of fraudulent emails and copy-cat websites to trick you into revealing valuable personal information &mdash; such as account numbers for banking, securities, mortgage, or credit accounts, your social security numbers, and the login IDs and passwords you use when accessing online financial services providers. The fraudsters who collect this information then use it to steal your money or your identity or both.</p> </td> </tr> </table>

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