Obsolete Nokia can hack into your bank account

Posted on 21 Apr 2009 at 16:59

Cyber-criminals have found that they can hack into your bank account with an old Nokia mobile phone. Fraudsters have been paying over the odds for the obsolete Nokia 1100, as they can reprogramme the handset to intercept SMS messages.

Ultrascan, an organisation that carries out research into crime trends, said that Eastern European gangs specialising in online banking fraud are using the handsets to access information sent by banks to customers who use mobile banking services.

The organisation said that it observed that gangs had started paying around £6,500 to £9,000 for the handset around six months ago. It has now seen one bought online for £22,000. Nokia's recommended retail price for the handset is £89.

Ultrascan added that only German Nokia 1100 phones are capable of being hacked and used in banking fraud.

Author: Dawinderpal Sahota

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