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Phishing Attacks Exploit New Online Security Checks in EU, UK

September 05, 2019 / David Bisson

Which? reported on a series of phishing attacks that masqueraded as official correspondence from Santander, Royal Bank of Scotland (RBS) and HSBC. The attack emails drew in recipients by invoking SCA. A response to the Payment Services Regulations 2017, or PSD2, SCA consists of new security checks that are expected to become increasingly common in online shopping and banking transactions processed within the U.K. and European Union (EU). Banks, card providers and retailers have thus begun asking users to provide up-to-date contact information so they can implement SCA going forward. To capitalize on this trend, attackers are targeting banking customers with fraudulent SCA messages. Specifically, they are crafting phishing emails informing recipients that they need their most up-to-date personal details. These messages contain links that redirect recipients to fraudulent websites designed to steal their personal information, giving threat actors all the data they need to access victims&...