Banking phishing: The case of Brazil

Beatriz Silveira Brasil and Karina Correia Figueiredo Campelo

Cyber Security: A Peer-Reviewed Journal, 2018, vol. 2, issue 1, 6-16

Abstract: This paper discusses the role of phishing in the global cyberthreat scenario, especially with regard to Brazil, which has emerged as the country with the highest percentage of this type of attack. Specifically, it is relevant to the analysis of bank phishing, by which criminals, through the use of malware and social engineering, can capture bank data of thousands of users. They then steal money from bank accounts over the internet. In order to commit their crime, cybercriminals lure or use mules who receive stolen money into their bank accounts and then pass it on to the leaders of criminal groups. The methodology adopted was a bibliographic research and a case study on Operation ‘Android’, carried out by the Civil Police of Pará State, Brazil in 2009. The paper concludes that it is necessary for law enforcement agencies to adopt robust measures, which, along with more conscious security practices by users, may remove Brazil from the top of the ranking of countries with the highest percentage of phishing in the world.

Keywords: financial phishing; bank malware; money mule; cyber law enforcement; Brazilian cybercrime (search for similar items in EconPapers)
JEL-codes: M15 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aza:csj000:y:2018:v:2:i:1:p:6-16

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