Back to Back Issues Page
Watch For Scams Newsletter, Issue #0019 - Banking fraud combined with work at home scams
November 09, 2009

Banking Fraud Combined with Work at Home Scams

Watch For Scams is dedicated to helping you avoid becoming a victim of fraud.

If you like this ezine, do a friend a big favor and forward this to them. If a friend forwarded this to you, and if you like what you read, please subscribe by visiting the link below:

Subscribe Here

Banking Fraud Combined with Work at Home Scams

The FBI has recently seen a significant increase in fraud involving the online banking information belonging to small and medium size businesses, municipal governments, and school districts.

One of the most common ways is when the targeted organization receives a 'spear phishing' email which either contains an infected attachment, or directs them to an infected web site.

Once you open the attachment or visit the web site, malicious software [malware] is installed on your computer.

The malware contains a key logger which will harvest your business or corporate bank account log-in information. Shortly after, the scammer either creates another user account with the stolen log-in information, or directly transfers your funds out of your accounts.

The next step is for your money to be directed to the bank accounts of people within the United States. Most of these people are unaware of what is happening and have been recruited through work-at-home advertisements, or have been contacted after placing resumes on well-known job search web sites.

These people are often hired to 'process payments', or 'transfer funds' and are told they will receive wire transfers into their bank accounts. Shortly after the funds are received, they are directed to immediately forward most of the money overseas using wire transfer services such as Western Union and Moneygram.

Protecting your computer against malicious software is an ongoing activity and, at minimum, all computers need to have antivirus and firewall software, that is regularly updated.

Further information is available at

If you have experienced unauthorized funds transfers from your bank accounts, or if you have been recruited via a work-at-home opportunity to receive transfers and forward money overseas, please notify the IC3 by filing a complaint at

Remember - always watch for scams!


Back to Back Issues Page