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National Bank of VI warns of fraudulent emails

- Phishing scams designed to steal customer data being circulated
The National Bank of the Virgin Islands via a social media statement have warned customers against a string of fraudulent/Phishing emails being circulated to their customers. Photo: VINO
During the House of Assembly's (HoA) second reading of the Computer Misuse and Cyber Crime Amendment Act 2019, on August 1, 2019, Premier and Minister of Finance Hon Andrew A. Fahie (R1) says that with the new legislation, comes stiffer penalties with regards to the protection of minors in the territory, in addition to the protection of user data. Photo: Internet Source
During the House of Assembly's (HoA) second reading of the Computer Misuse and Cyber Crime Amendment Act 2019, on August 1, 2019, Premier and Minister of Finance Hon Andrew A. Fahie (R1) says that with the new legislation, comes stiffer penalties with regards to the protection of minors in the territory, in addition to the protection of user data. Photo: Internet Source
According to Premier Andrew A. Fahie at the Sixth Sitting of the First Session of the Fourth House of Assembly on August 1, 2019, 'We live in an age of rapidly advancing technology as much as modern electronic technology brings tremendous conveniences to our fingertips it also brings a lot of danger'. Photo: VINO/File
According to Premier Andrew A. Fahie at the Sixth Sitting of the First Session of the Fourth House of Assembly on August 1, 2019, 'We live in an age of rapidly advancing technology as much as modern electronic technology brings tremendous conveniences to our fingertips it also brings a lot of danger'. Photo: VINO/File
ROAD TOWN, Tortola, VI - The National Bank of the Virgin Islands via a social media statement has warned customers against a string of fraudulent/Phishing emails being circulated to its customers.

"We have been informed that some of our customers have received fraudulent/phishing emails with the subject “Your Account has been Debited” which further guides to a link," the Bank said in a social media post yesterday, August 26, 2019.

Customers beware  

The statement continued, "Please note that the National Bank of the Virgin Islands Limited “the Bank” takes information security seriously and asks that you be vigilant to prevent any fraudulent activity." 

Virgin Islands News Online (VINO) reached out to the Bank's Facebook page to inquire about how the scammers might have got their hands on customer emails and was met with a 'thank you' message.

'Thanks for messaging us. We try to be as responsive as possible. We'll get back to you soon," the response said early afternoon, Tuesday, August 27, 2019. Up to publication time, the Bank had not responded to questions.

However, in the facebook warning, they noted that the bank would never ask customers to provide confidential information via email.

"If you receive the said email, please take the following precautions; Do not open, click any links or provide personal information, Delete immediately and block the sender’s address, Do not reply to the sender [and] Ignore all requests that the sender may solicit."

The bank said in instances where customers may have clicked on this link, they should call (284) 494-3737/8 or visit the customer service department.

What is Phishing?

According to Imperva, a cybersecurity firm, Phishing is a type of social engineering attack often used to steal user data, including login credentials and credit card numbers.

It tricks users into thinking that the correspondence is legitimate and occurs when an attacker, masquerading as a trusted entity, dupes a victim into opening an email, instant message, or text message.

"An attack can have devastating results. For individuals, this includes unauthorised purchases, the stealing of funds, or identify theft," the firm noted.

Currently, in the Virgin Islands, legislators are proposing as part of the Computer Misuse and Cyber Crime Amendment Act 2019, stiffer penalties for entities and individuals engaging in data theft.

Under unlawfully intercepting of data, an existing offense, the Premier Hon Andrew A. Fahie (R1) on August 1, 2019, said the legislation proposes an increased fine from $50,000 to $200,000 and/or seven years on summary conviction.

At a higher court, the penalties will start “from $100,000 and/or 10 years on conviction and indictment to $500,000 and/or 14 years,” Hon Fahie said.

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