New York Cyber Financial Fraud

Phishing scams trick users into revealing sensitive personal or financial data by posing as legitimate institutions. The goal is often to steal credentials or prompt fraudulent transactions.

Smishing combines SMS and phishing by using deceptive text messages to lure victims into clicking malicious links or downloading harmful apps, often leading to small unauthorized charges or data theft.

Pharming reroutes victims to fraudulent websites even when correct URLs are entered. This is often accomplished by infecting the user's computer with malware that manipulates DNS settings, resulting in stolen login credentials or direct theft.

These attacks involve malware that resides in a computer’s memory and manipulates normal website behavior. Pop-ups or error messages mislead users into inputting sensitive information, which is then misused to transfer funds without consent.

Engaging in a pattern of fraud constitutes a class E felony under New York law. For example, tricking someone into wiring funds using false pretenses could result in imprisonment of up to four years.

Unauthorized access or manipulation of digital systems is charged under computer tampering laws. This includes injecting malware, modifying banking records, or altering access credentials. Penalties range from misdemeanors to felonies, depending on the impact.

Frauds involving threats, such as impersonating law enforcement or threatening harm to extract payments, may result in coercion charges—felonies punishable by up to seven years in prison.

In cases involving interstate wire communications, federal charges such as wire fraud (18 U.S.C. § 1343) or identity theft (18 U.S.C. § 1028) may apply. These crimes carry penalties up to 20 years in prison.

Victims should first report the incident to the NYPD or contact the Internet Crime Complaint Center (IC3). Prompt notification allows financial institutions to freeze suspicious accounts and prevent further damage.

Malicious websites or texts can also be reported to the New York State Office of Information Technology Services. Additionally, financial institutions must be contacted to issue transaction holds and initiate internal fraud review.

1. Immediate Account Freeze: Contact the receiving bank or payment platform to request a hold on the suspicious transaction. Most banks maintain 24-hour fraud hotlines.
2. Data Protection Measures: Use identity theft monitoring services, scan devices for malware, and reset all affected passwords.
3. Police Documentation: File a police report and obtain a certified incident record (such as an NYPD Complaint Report) to support your case.
4. Submit Formal Claims: Submit evidence such as transaction logs and communication records to your bank to request reimbursement or fraud reversal under New York’s banking compliance guidelines.

In cases involving minor but recurring charges—often resulting from smishing attacks or app manipulation—victims should:

• Request billing details from their mobile carrier.
• Contact the app developer or payment intermediary to halt services and issue refunds.
• Provide police reports to support refund claims with carriers or credit bureaus.