Phishing from ‘The Cloud’

An automated phishing-style fraud scheme was recently discovered.

According to an article on PCWorld Business Center, a cybercriminal ring was discovered using an advanced cloud-based fraud system that targeted wealthy people throughout the world. Although the actual amount defrauded is not known, the article estimates in ranges from $75 million to $2.5 billion.

The fraud started with emails designed to look like they came from a recipient’s bank. After the message was downloaded, malware was installed on the victim’s computer that allowed personal information to be stolen. The amount of automation, multiple systems, and the cloud computing nature of the attacks make them so unique.

Remember to never open emails unless you are absolutely sure of their origin. If you are concerned about a message, be sure to contact your bank and ask if they really sent an email.

To learn more about the attacks read, Cybercriminals Build Massive Banking Fraud System in the Cloud.