How to spot fake emails like "Non-payment Of Fund"
Written by Tomas Meskauskas on
What kind of scam is "Non-payment Of Fund"?
We have reviewed the email and concluded that it is a scam. It is designed to seem like an urgent message regarding the release of funds. The scammers behind this scam email likely aim to trick recipients into sending them money or providing personal information (or both). Such emails should be ignored to avoid potential negative outcomes.
More about the "Non-payment Of Fund" scam email
This scam email claims that the recipient's case has been submitted to the committee for review because the recipient is supposedly entitled to receive funds. The email suggests that the recipient has met all international standards and requirements needed to release the funds, making them the legal beneficiary.
The email also states that the committee, set up by the World Bank, is investigating fraudulent practices by government officials and banks worldwide. The recipient is urged to contact the sender via email (franbudman@gmail.com) for further verification. The email promises that their funds will be released after verification.
Typically, scammers behind such emails aim to trick the recipient into responding and providing personal details (e.g., credit card details or ID card information) or making payments in exchange for supposed financial benefits. Victims of such emails never receive any money and often end up losing their own funds or becoming targets of identity theft.
Thus, if such an email is received, it should be ignored and deleted to avoid potential consequences.
| Name | Non-payment Of Fund Email Scam |
| Threat Type | Phishing, Scam, Social Engineering, Fraud |
| Fake Claim | Recipient's case has been submitted to the committee for review |
| Disguise | Letter regarding the release of funds |
| 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. |
Similar scam emails in general
Scams like these are designed to trick potential victims into providing personal information or money. They often lead to financial loss and identity theft without the victim ever receiving the promised funds. It is crucial to remain cautious and avoid responding to suspicious emails promising unexpected financial rewards.
Here are examples of similar scams: "Reliable Trustee Email Scam", "Transfer On Death Email Scam", and "Transfer Money Abroad Email Scam". Sometimes, fraudsters use deceptive emails to trick recipients into infecting computers.
How do spam campaigns infect computers?
Threat actors distribute malware through email by sending infected files (attachments) or links. Certain attachments can infect a system as soon as they are opened, while others need the user to take action, like enabling macros in a compromised Office file, to launch the malicious program.
Cybercriminals often hide malware in PDFs, Office documents, scripts, archive files, or executables. If an email contains a harmful link, clicking on it can either start an automatic malware download or lead the user to fake websites that deceive them into manually running malware.
How to avoid installation of malware?
Use trusted antivirus software and keep it up to date to detect and remove malware. Avoid opening attachments or clicking links in irrelevant, unexpected emails from unknown or suspicious sources. Download software only from official or app stores and avoid third-party downloaders, P2P networks, and similar sources.
Update your operating system and software regularly. Do not trust ads, pop-ups, and links on shady websites, and do not permit such sites to send you notifications. If you have already opened malicious attachments, we recommend running a scan with Combo Cleaner Antivirus for Windows to automatically eliminate infiltrated malware.
Text presented in the "Non-payment Of Fund" email letter:
Subject: KINDLY GIVE URTENT ATTENTION TO THIS MESSAGE.
EUROPEAN UNION TASK FORCE AND DEBT RECONCILIATION COMMITTEEMADRID BRANCH- SPAIN
========================================OUR DUE DILLIGENCE AND VERIFICATION OF THE NON-PAYMENT OF YOUR FUNDS
===============================================DEAR SIR,
YOUR FILE HAS BEEN SUBMITTED TO OUR COMMITTEE FOR REVIEW FOR THE NON-PAYMENT OF FUND YOU HAVE BEEN SEEKING FOR RELEASE AFTER YOU HAVE SEEMINGLY MET WITH ALL INTERNATIONAL STANDARDS AND ACCEPTED THE REQUIREMENTS NECESSARY TO PROCURE THE RELEASE OF THE FUNDS TO YOU AS THE END AND LEGAL BENEFICIARY.
IN ORDER TO STEM INAPPROPRIATE FINANCIAL INJUSTICES AND FRAUDULENT FINANCIAL PRACTICES METED OUT TO INDIVIDUALS / COMPANIES WORLDWIDE BY THESE GOVERNMENT PARASTATALS AND BANK OFFICIALS, THIS COMMITTEE WAS SET UP BY THE WORLD BANK, TO INVESTIGATE, VERIFY AND RECOMMEND FOR SOLUTIONS, TO ANY SUCH PRACTICES WORLDWIDE BY THE WORLD BANK, AND THAT IS THE REASON FOR CONTACTING YOU TODAY
YOU ARE REQUIRED TO US URGENTLY CONTACT US THROUGH THIS EMAIL ADDRESS (franbudman@gmail.com) TO ENABLE US TO VERIFY FURTHER AND ASCERTAIN THE REASON FOR THE NON-PAYMENT OF YOUR FUNDS AND IF POSSIBLE, RECOMMEND A POSSIBLE SOLUTION.
IT IS VERY IMPORTANT TO NOTE THAT YOUR FUND WILL BE RELEASE TO WITHOUT DELAY
AFTER OUR DUE DILLIGENCE AND VERIFICATION.BEST REGARDS
FRANK BUDMAN
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Quick menu:
- What is Non-payment Of Fund scam?
- 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?
In most cases, these emails are generic and do not address the recipient personally. You are likely amongst a number of others who received the same email.
I have provided my personal information when tricked by this email, what should I do?
Report the scam to the appropriate authorities and reach out to your bank if you have shared your credit card details or other sensitive information.
I have downloaded and opened a malicious file attached to an email, is my computer infected?
The risk of a system being compromised depends on the file type. Executable files can cause infections immediately when opened, while documents may need extra steps—like enabling macros—before the malware activates
I have sent cryptocurrency to the address presented in such email, can I get my money back?
Unfortunately, cryptocurrency transactions are final and cannot be undone, meaning once the funds are sent, they are lost and cannot be recovered.
I have read the email but did not open the attachment, is my computer infected?
Opening an email itself is not dangerous, but clicking links or opening attachments found in suspicious emails can introduce malware to your system.
Will Combo Cleaner remove malware infections that were present in email attachment?
Combo Cleaner can detect and remove most known malware, but more sophisticated threats may be deeply hidden. A comprehensive system scan is necessary to uncover and remove any hidden infections.
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