Banking regulator of Israel, warned banks and customers to be more vigilant against cyber criminals, on February 4, 2018.
The rise in the number of hacking attempts over the past few months has cautioned the regulatory authorities in Israel.
“In the last half year, we have seen an increase in attempts at fraud via phishing, aimed at banking system customers with the intent to steal funds from their accounts,” said the central bank. Attackers initially try to gain access to the customer’s login and other personal details that are necessary for transferring funds between accounts.
The bank reported that over the recent weeks, several attempts have been recorded to steal personal details of customers by impersonating PayPal, which is used to execute payments for internet purchases in Israel and around the globe.
The Bank of Israel said in a statement, “In these fraud attempts, the attackers succeeded in causing the banks a minimal amount of financial damage of several tens of thousands of shekels, and no damage was caused to customers.”
The bank regulators have ever since been taking security actions on a regular basis. They are notifying customers of several banks around the country about the recent fraud attempts. It is also suggesting recommendations for dealing with such fraudulent attempts, so as to increase customer awareness and reduce the chances of such fraud succeeding.