Fake loan domain name
News | 06/22/2018

Fraud & Cloned websites using fake loan domain name to trick users!

About: Phishing emails sent to people using a fake .loan domain name for a popular website such as yahoo.com caused many to fall prey and lose their login details to online scammers. The scammers can use these details to steal money and cause identity thef...  Read More  

| News | Fraud & Cloned websites using fake loan domain name to trick users!

Fraud & Cloned websites using fake .loan domain name to trick users!

Humans have infinite desires. To fulfill those desires people take loans from friends and relatives. Once that door closes, they approach banks for loans. Official Online websites of banks and financial services state their terms and conditions for the loans they offer. These websites also caution the users to be aware of scams and frauds. There is an increasing amount of online banking fraud and scams with latest technological advancements. Read more how the fake loan domain name phishing is done by online scammers.

Users are often sent emails that are made to look like a legitimate communication from the bank. The users are then asked to fill in their details for KYC or other purposes. The email contains a link, which takes them directly to the website from their email to fill in those details. Once the user opens the link, a website which is an exact copy of the original website of the bank gets displayed to the user. The user fills in the details containing usernames, passwords, banking card details, bank account details etc. without knowing that they are giving out their personal information to fraudsters and scammers.

The collected information of the users is used by these scammers to hack their email accounts and get access to the user’s bank account. Once these scammers gain access they can cause banking fraud and other malicious activity.

A recent incident involved a ‘Top Level domain name (TLD)’ being created with the ‘loan domain name’ suffix for the popular online website ‘Yahoo.com’. The users of Yahoo.com were sent phishing emails and were tricked into visiting the www.yahoo.loan website. Once the users keyed in their login details on the Yahoo.loan website, their information was stolen by the cyber scammers. Most users were unconcerned about why yahoo was trying out a new domain and assumed they would get informed about it later and most failed to notice the changed fake loan domain name at all because of the website being a clone of the original yahoo.com.

Users should always be careful when opening links directly from their emails. Instead, they should directly open the website and avoid using the email links provided. This is a precaution that should be applied to safeguard oneself against online scammers.

Cyber security crimes are increasing in no. as the general populace is unaware about the fraudulent activities carried out on the internet. Phishing, Scamming and identity theft are used by most fraudsters and scammers to get access to user data. Users are advised to be aware from falling into these traps. Visit official websites and never give out your username or password online to anyone.

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