Presented By Simra,

Iman, And Zainab

Data security and protection

(internet fraud/phishing)
Contents
• What Is Internet Fraud?
• 2 Documentary’s Based On Internet Fraud
• How Can One Prevent The Risk Of Internet Fraud?
What is phishing
• Phishing is the fraudulent attempt to obtain sensitive information such as usernames,
passwords and credit card details by disguising oneself as a trustworthy entity in an
electronic communication.
• It typically carried out by email spoofing or instant messaging, it often directs users to
enter personal information at a fake website which matches the look and feel of the
legitimate site.

• Phishing is an example of social engineering techniques being used to deceive users.

Users are often lured by communications purporting to be from trusted parties such as
social web sites, auction sites, banks, online payment processors or IT administrators.
 Incident Based On phishing
• He asked her personal information about her banking details and if
she had recently being taking money out every week.
• She was quite concerned as she knew she hadn’t taken money out of
the account in a number of years.
• He told her to go to her local branch, remove a large amount from
her account and lodge it through a money wire transfer in her local
post office to a supposedly ‘safe’ account.
• If questioned at her local branch she was to say that the money was
for a relative’s wedding.
• Once he had found the solution, the money would be returned to her
account after a number of days once her account was secure.
• Thankfully when Carmel arrived at her branch, she was asked a series of
questions as to why she was taking such a large sum out for a family
wedding.
• Carmel grew suspicious and told the teller about the advice she received on
the phone from the bank’s ‘head office’.
• Carmel’s local teller informed her that no head office of any bank would
advise a customer to lie to local branch staff, or to cash savings into
another off-site account in such a manner.
• The teller explained how other customers had been targeted and lost large
amounts of savings – with no ability to recoup them
• Fraudsters are creative and resourceful – there is no shame in being
deceived.
• So one shouldn't be embarrassed to report a scam; by doing so you will
make it more difficult for fraudsters to deceive someone else.
 Incident Based On Phishing
• The story of Austrian aerospace executive Walter Stephan holds the
record for being the individual to lose the most money in history
from a single scam – around $47 million.

• During his tenure as C.E.O. of FACC, cybercriminals faked

Stephan's email and demanded a lower-level employee to transfer
the enormous sum to an unknown bank account as part of an
“acquisition project”.

• FACC’S systems were not hacked. The attacker seems to have simply
guessed Stephan's email correctly, created a look-alike spoof email
address, and then targeted an entry-level accountant.
• The employee immediately trusted the email and sent
the wire.
• In the aftermath of the loss, Stephan lost his position as
CEO, FACC fired its chief financial officer, and the
company scrambled to retrieve the money – eventually
recouping around one-fifth of the loss.

• To avoid the fate of FACC, businesses need to empower

employees to verify email communication that appears
to come from senior board members
How Can One Prevent Phishing
• Know who you're dealing with.
• Pay the safest way.
• Guard your personal information.
• Stay safe online.
• Be cautious about unsolicited emails.
• Resist pressure.
• Don't believe promises of easy money.
• Fully understand the offer.