Avoid getting scammed by fake "Compensation Funds" emails

What kind of email is "Compensation Funds"?

Our examination of the "Compensation Funds" email revealed that it is spam. This letter claims that funds will be compensated due to foreign banks' failure to transfer their money.

It must be emphasized that the claims made by this email are false, and this mail is not associated with any legitimate entities. Typically, this kind of spam mail aims to deceive users into disclosing private information or sending money to scammers.

"Compensation Funds" email scam overview

The spam email with the subject "Dear Beneficiary /Estimado Beneficiário" (may vary) is written in English and Portuguese; the message is the same in both languages. This missive claims to be from the Bank of America.

The email claims that the recipient's transactions with foreign banks have been reviewed. These banks were contacted, and it was found that the recipient's funds were withheld. The reason was improper documentation and intentional interference from the banks.

Hence, the International Monetary Fund (IMF) – an agency of the United Nations (UN) – has resolved to compensate the recipient so that they could reactivate and claim their funds. The compensated sum is ten million euros.

It must be reiterated that the information in this email is false, and this mail is in no way associated with the Bank of America Corporation, IMF, UN, or any other genuine entities.

In most cases, these letters seek private data or funds directly. Targeted information can be personally identifiable details (ID card details, passport photos/scans, etc.) or finance-related data (online bank account log-in credentials, credit/debit card numbers, etc.).

Collected data can be used for a variety of nefarious purposes like identity theft, making fraudulent transactions or online purchases, and so forth. Scammers can also seek money directly and provide legitimate-sounding reasons like paying taxes or transaction fees.

To summarize, by trusting an email like "Compensation Funds" – users can experience serious privacy issues, financial losses, and identity theft. If you have disclosed your personally identifiable or finance-related information – immediately contact relevant authorities.

If you have provided your log-in credentials – change the passwords of all possibly exposed accounts and inform their official support without delay.

Threat Summary:

Name	"Compensation Funds" spam email
Threat Type	Phishing, Scam, Social Engineering, Fraud
Fake Claim	10 million USD will be compensated due to the failure of foreign banks to properly handle the recipient's funds.
Disguise	Bank of America, International Monetary Fund (IMF), United Nations (UN)
Symptoms	Unauthorized online purchases, changed online account passwords, identity theft, illegal access of the computer.
Distribution methods	Deceptive emails, rogue online pop-up ads, search engine poisoning techniques, misspelled domains.
Damage	Loss of sensitive private information, monetary loss, identity theft.
Malware Removal (Windows)	To eliminate possible malware infections, scan your computer with legitimate antivirus software. Our security researchers recommend using Combo Cleaner. ▼ Download Combo Cleaner To use full-featured product, you have to purchase a license for Combo Cleaner. 7 days free trial available. Combo Cleaner is owned and operated by Rcs Lt, the parent company of PCRisk.com read more.

Spam campaigns in general

We have investigated countless spam emails; "Update Server Terms Now", "Timesheet Report", "Spotify Subscription Update", "Your System Was Breached By Remote Desktop Protocol", "Chase - Suspicious Activity", "Donation From CEO Walgreens Boots Alliance", and "Donation From St Antonio's Cathedral" are merely some of our latest articles.

Various scams are promoted through spam mail, and it is used to spread malware. Due to how widespread this mail is and how well-crafted it can be – we strongly advise vigilance with incoming emails, DMs/PMs, SMSes, and other messages.

How do spam campaigns infect computers?

Malicious files can be attached to or linked inside the spam emails/messages. These files come in various formats, e.g., archives (ZIP, RAR, etc.), executables (.exe, .run, etc.), documents (Microsoft Office, Microsoft OneNote, PDF, etc.), JavaScript, and so on.

Malware download/installation is triggered once such a file is executed, run, or otherwise opened. Some formats require additional user interaction to initiate infection processes. For example, Microsoft Office files need users to enable macro commands (i.e., editing/content), while OneNote documents require them to click embedded links or files.

How to avoid installation of malware?

We recommend exercising caution with incoming emails, PMs/DMs, SMSes, and other messages. Attachments or links found in dubious/irrelevant mail must not be opened, as they can be harmful or virulent.

It must be mentioned that malware is spread using various techniques. Therefore, we advise being careful while browsing since fraudulent and dangerous online content usually appears legitimate and innocuous.

Another recommendation is to download only from official and trustworthy sources. Software must be activated and updated using legitimate functions/tools, as illegal activation ("cracking") tools and third-party updaters may contain malware.

It is paramount for device integrity and user safety to have a reputable anti-virus installed and kept up-to-date. Security programs must be used to perform regular system scans and to remove threats and issues. If you've already opened malicious attachments, we recommend running a scan with Combo Cleaner Antivirus for Windows to automatically eliminate infiltrated malware.

Text presented in the "Compensation Funds" spam email letter:

Subject: Dear Beneficiary /Estimado Beneficiário

BANK OF AMERICA CORPORATE CENTER, NEW -YORK.
Address: 760 United Nation Plaza ,
New - York ,10017 - United State ,USA .
Email: unitednationcompensationfund@aol.com
Our reference:BOA/IRU/SFE//THD/28

Dear Beneficiary :
With this message we would like to inform you that we have taken the time to review yours
Transactions with foreign banks, particularly in Europe and the United States and other countries kingdoms
We want you to know that we have contacted most of the foreign banks to find out why your Compensation funds were withheld and the final solution to this problem . Finally we discovered that your unpaid contract/ indemnity money where in improper documented for an International money Transfer and we can not allowed the foreign bank continue and suspend your payment to your nominated bank Account
Such transfer block has been imposed on your balance because you a Foreigner and the majority of these international banker want to frustrate you to the funds to their respective Swiss , German and other Europe Account for their selfish interest
The United Nation joint alliance with the International Monetary Funds have resolved and have decided to Compensate you with the sum of Ten Million Euro (10,000,000.00) has been Compensated fund to you in order to activate and claim your funds and you will received the money in your bank account
Therefore we would like to inform you again that all we are doing right now is to activate and
Arrangements by our department for processing and payment to you
outstanding debts of €10,000,000. owed to you immediately and kindly provide full information so that we can process your Compensation funds by the United Nation .

Kindly contact BANK OF AMERICA CORPORATE CENTER, NEW -YORK via their Email , Reply only to these email below
Email: unitednationcompensationfund@aol.com
United Nation .

 

CENTRO CORPORATIVO DO BANCO DA AMÉRICA, NOVA IORQUE.
Morada: 760 Praça das Nações Unidas,
Nova Iorque ,10017 - Estados Unidos ,EUA .
E-mail: unitednationcompensationfund@aol.com
A nossa referência:BOA/IRU/SFE//THD/28

Estimado Beneficiário:
Com esta mensagem gostaríamos de informar que dedicámos algum tempo a rever a sua
Transações com bancos estrangeiros, especialmente na Europa e nos Estados Unidos e noutros reinos de países
Queremos que saiba que contactámos a maioria dos bancos estrangeiros para saber por que razão os seus fundos de compensação foram retidos e a solução final para este problema. Finalmente, descobrimos que o seu contrato/indemnização não pago estava inadequadamente documentado para uma transferência de dinheiro internacional e não podemos permitir que o banco estrangeiro continue e suspenda o seu pagamento para a conta bancária indicada.
Este bloqueio de transferência foi imposto ao seu saldo porque é estrangeiro e a maioria destes banqueiros internacionais deseja frustrá-lo com os fundos para as suas respectivas contas suíças, alemãs e outras da Europa pelos seus interesses egoístas
A aliança conjunta das Nações Unidas com os Fundos Monetários Internacionais resolveu e decidiu compensá-lo com a soma de Dez Milhões de Euros (10.000.000,00) que foram compensados ??para si, a fim de ativar e reivindicar os seus fundos e você receberá o dinheiro na sua conta bancária
Assim, gostaríamos de informar novamente que tudo o que estamos a fazer agora é ativar e
Acordos do nosso departamento para processamento e pagamento a si
dívidas pendentes de € 10.000.000.devido a si imediatamente e gentilmente fornecer informações completas para que possamos processar os seus fundos de compensação pelas Nações Unidas.

Contacte o BANK OF AMERICA CORPORATE CENTER, NEW -YORK por e-mail.
E-mail: unitednationcompensationfund@aol.com
Nação Unida.

Appearance of the "Compensation Funds" spam email (GIF):

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Quick menu:

• What is "Compensation Funds" spam email?
• Types of malicious emails.
• How to spot a malicious email?
• What to do if you fell for an email scam?

Types of malicious emails:

Phishing Emails

Most commonly, cybercriminals use deceptive emails to trick Internet users into giving away their sensitive private information, for example, login information for various online services, email accounts, or online banking information.

Such attacks are called phishing. In a phishing attack, cybercriminals usually send an email message with some popular service logo (for example, Microsoft, DHL, Amazon, Netflix), create urgency (wrong shipping address, expired password, etc.), and place a link which they hope their potential victims will click on.

After clicking the link presented in such email message, victims are redirected to a fake website that looks identical or extremely similar to the original one. Victims are then asked to enter their password, credit card details, or some other information that gets stolen by cybercriminals.

Emails with Malicious Attachments

Another popular attack vector is email spam with malicious attachments that infect users' computers with malware. Malicious attachments usually carry trojans that are capable of stealing passwords, banking information, and other sensitive information.

In such attacks, cybercriminals' main goal is to trick their potential victims into opening an infected email attachment. To achieve this goal, email messages usually talk about recently received invoices, faxes, or voice messages.

If a potential victim falls for the lure and opens the attachment, their computers get infected, and cybercriminals can collect a lot of sensitive information.

While it's a more complicated method to steal personal information (spam filters and antivirus programs usually detect such attempts), if successful, cybercriminals can get a much wider array of data and can collect information for a long period of time.

Sextortion Emails

This is a type of phishing. In this case, users receive an email claiming that a cybercriminal could access the webcam of the potential victim and has a video recording of one's masturbation.

To get rid of the video, victims are asked to pay a ransom (usually using Bitcoin or another cryptocurrency). Nevertheless, all of these claims are false - users who receive such emails should ignore and delete them.

How to spot a malicious email?

While cyber criminals try to make their lure emails look trustworthy, here are some things that you should look for when trying to spot a phishing email:

• Check the sender's ("from") email address: Hover your mouse over the "from" address and check if it's legitimate. For example, if you received an email from Microsoft, be sure to check if the email address is @microsoft.com and not something suspicious like @m1crosoft.com, @microsfot.com, @account-security-noreply.com, etc.
• Check for generic greetings: If the greeting in the email is "Dear user", "Dear @youremail.com", "Dear valued customer", this should raise suspiciousness. Most commonly, companies call you by your name. Lack of this information could signal a phishing attempt.
• Check the links in the email: Hover your mouse over the link presented in the email, if the link that appears seems suspicious, don't click it. For example, if you received an email from Microsoft and the link in the email shows that it will go to firebasestorage.googleapis.com/v0... you shouldn't trust it. It's best not to click any links in the emails but to visit the company website that sent you the email in the first place.
• Don't blindly trust email attachments: Most commonly, legitimate companies will ask you to log in to their website and to view any documents there; if you received an email with an attachment, it's a good idea to scan it with an antivirus application. Infected email attachments are a common attack vector used by cybercriminals.

To minimise the risk of opening phishing and malicious emails we recommend using Combo Cleaner Antivirus for Windows. 

Example of a spam email:

What to do if you fell for an email scam?

• If you clicked on a link in a phishing email and entered your password - be sure to change your password as soon as possible. Usually, cybercriminals collect stolen credentials and then sell them to other groups that use them for malicious purposes. If you change your password in a timely manner, there's a chance that criminals won't have enough time to do any damage.
• If you entered your credit card information - contact your bank as soon as possible and explain the situation. There's a good chance that you will need to cancel your compromised credit card and get a new one.
• If you see any signs of identity theft - you should immediately contact the Federal Trade Commission. This institution will collect information about your situation and create a personal recovery plan.
• If you opened a malicious attachment - your computer is probably infected, you should scan it with a reputable antivirus application. For this purpose, we recommend using Combo Cleaner Antivirus for Windows.
• Help other Internet users - report phishing emails to Anti-Phishing Working Group, FBI’s Internet Crime Complaint Center, National Fraud Information Center and U.S. Department of Justice.

Frequently Asked Questions (FAQ)

Why did I receive this email?

Spam emails are not personal even if they include details relevant to the recipients. Cyber criminals distribute these messages by the thousand with the hopes that at least some recipients will fall for their scams.

I have provided my personal information when tricked by this spam email, what should I do?

If you have disclosed your log-in credentials – change the passwords of all potentially compromised accounts and inform their official support without delay. However, if you've provided other private information (e.g., passport photos/scans, ID card details, credit/debit card numbers, etc.) – immediately contact the corresponding authorities.

I have read a spam email but didn't open the attachment, is my computer infected?

No, reading an email does not pose an infection threat. Malware download/installation is initiated once a malicious attachment or link is opened/clicked.

I have downloaded and opened a file attached to a spam email, is my computer infected?

Whether the system was infected might depend on the opened file's format. If it was an executable – most likely, yes – the device was compromised. However, you might have avoided this if it was a document, as these formats may need extra interaction (e.g., enabling macros, clicking embedded content, etc.) to jumpstart malware download/installation.

Will Combo Cleaner remove malware infections present in email attachments?

Yes, Combo Cleaner is capable of detecting and eliminating practically all known malware infections. It must be stressed that running a complete system scan is paramount since sophisticated malicious programs typically hide deep within systems.

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