In the recent days, we have seen many emails claiming to be from your bank and asking you to provide the user name, password, ATM Number PIN etc... First of all let me emphasize the fact that these are fake emails. Banks or any other responsible companies will never ask for these details of yours for any reason.
Let me reiterate that never ever respond to such emails. Do not click on the links in these emails as this will lead to fake sites. Entering your online banking username and password to these fake sites will make an attacker to take control of your account and withdraw all the money you have in your account. This scam is normally known as Phishing
I will post another post on the phishing later. In this post, I would like to emphasize the
money mule scam which is the hidden side of the phishing.
Extract from Wikipedia about money mules
"Money mule is a person who transfers money and reships high value goods that have been fraudulently obtained in one country, usually via the internet, to another country, usually where the perpetrator of the fraud lives.
The need for money mules arises because while a criminal in a developing country can obtain the credit card numbers, bank account numbers, passwords and other financial details of a victim living in the first world via the internet through techniques such as malware and phishing, turning those details into money usable in the criminal's own country can be difficult. Many businesses will refuse to transfer money or ship goods to certain countries where there is a high likelihood that the transaction is fraudulent. The criminal therefore recruits a money mule in the victim's country who will receive money transfers and merchandise and resend them to the criminal in return for a commission"
There are various stages where people are recruited as money mules