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LEGAL VIEWPOINT & PERSPECTIVE: Different fraud in e-banking By Dr AbdelGadir WarsamaGhaleb, Corporate Legal Counsel
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AfricaNewsAnalysis
This new situation has given a golden opportunity for banking services to expand and cover all corners everywhere.
The new e-frauds include, among others, phishing, identity theft, viruses and trojans, spyware and adware, card skimming, mobile scams… etc.
Phishing is a form of internet fraud that aims to steal information such as card numbers, user IDs and passwords.
Captured card and PIN details are encoded in a counterfeit card and used for fraudulent account withdrawals and transactions.
A foreign device is implanted in an EFTPOS machine capable of copying and capturing card and PIN details processed through the machine.