How to protect yourself from email interception fraud

Mail interception fraud is when criminals steal information such as email usernames and passwords allowing them to hack personal or business email accounts.

They monitor incoming mails and intercept emails with private information such as invoices with banking details or account information. The fraudsters then respond to these emails as if they are ‘the business’ using fake banking details defrauding individuals and companies out of large sums of money.

How do fraudsters intercept mail?

1. Fraudsters obtain the email passwords of mail accounts through phishing and spoofing scams
2. They then log in via webmail and create malicious forwarders and filters in an attempt to intercept sensitive emails, specifically ones related to financial information such as: invoices, payment requests, banking details exchange etc.
3. Fraudsters then monitor these mailboxes until the perfect opportunity arises. For example: A buyer sends an email requesting banking details from a seller.
   
   
4. The fraudsters then intercept these emails and hide the email from you before you can see it. They do this by creating a filter that sends all your incoming email from that address to your trash folde
   
   
5.  The fraudsters will then reply to the intercepted email using your compromised email account or they may use another domain and simply set the senders address as your email address (this known as spoofing) to make it look like the mail came from your email account with the banking details changed.
   
   
6. The unaware buyer will then make the payment and transfer the money into the fake bank account from the details received.

How to minimise the risk

• Use different passwords for all the other email accounts pertaining to your domain.
• Reset and have new passwords for all email accounts pertaining to your domain.
• Run security scans on any personal computers/devices with access to the email accounts.
• Use an SSL certificate in your email client settings.

Other Ways also include

• Look at alternative methods to supply invoices, such as online invoicing services.
• Periodically monitor filters and forwarders in the control panel, this includes per email account filters as well as global filters.
• Regularly update your password.
• Use complex, secure passwords.

Original Article Here