Cybercrime in this age of digital is not a new phenomenon, however, as Maybank customer Eric Chua recently found out, can happen to anyone. Overnight, Chua lost RM11,000 in what appeared to be a very specifically targeted attack, unlike most generic phishing scams, as reported by says.com.
According to Chua, the attack occurred two days after he had received his salary. Chua suspects that the criminals first hacked into his secondary email account and used that to gain control of his primary email account. His SIM card was also cloned at the same time, as it was necessary for the criminals to receive what is known by Maybank as a ‘Transaction Authorization Code’, or TAC.
Overnight, Chua lost RM11,000 from both his current and savings account at the bank. Unfortunately, Chua also discovered that unlike credit card transactions, funds transfers or online direct payments cannot be reversed.
According to LE Global Services (LGMS) executive director and senior IT security consultant Fong Choong Fook, the attack on Chua’s accounts show pre-meditated actions against a specific person. “In fact, I can be sure that the person who stole from him (Chua) should be someone who knows him,” said Fong.
However, despite the facts of this particular case, Fong explained that the majority of cybercrimes often follow mass attack strategies. These are generic methods which cybercriminals use in which to target a large number of people, in the hope that some of them may fall victims to the scam.
Quick tips to stay digitally secure
- Try not to access online bank accounts on public or unsecured Wi-Fi.
- Change your email and e-banking passwords regularly, at least once every three months.
- Guard your mobile phone well, since mobile phones today store massive amounts of personal data.
- If your phone is lost or stolen, alert your banking institutions immediately.
- Always use a personal device when accessing your e-banking accounts.
- Ensure your devices are secure with at least basic levels of Internet Security programs
