How to recognize fake emails like "Interactive Brokers - Account Review Confirmation"

What is "Interactive Brokers - Account Review Confirmation" scam?

Our analysis has revealed that it is a phishing email claiming to be regarding the annual Interactive Brokers account review confirmation. It contains a link to a fake site designed to extract personal information from unsuspecting individuals. This email is fraudulent and should be ignored.

More about the "Interactive Brokers - Account Review Confirmation" scam email

This scam email is disguised as a message from Interactive Brokers. It claims that the recipient must complete a mandatory review to satisfy regulatory requirements and requests that they confirm their personal details and provide an "electronic acknowledgment".

The message also states that no document uploads are required and lists several supposed confirmations, including the accuracy of identity and address information, as well as unchanged tax residency status. It warns that failing to complete the review could lead to temporary restrictions on trading, deposits, withdrawals, or dividend processing.

The email urges the recipient to log in through a provided link to finish the review. The fake website masquerades as an Interactive Brokers page and claims that the user's W-8BEN form is missing. It states that this causes high IRS withholding rates and pressures the visitor to resolve the issue immediately.

A button is provided to "confirm" the form. After clicking it, the site instructs visitors to enter their username and password. Once provided, this information is sent to scammers, who can use it to access Interactive Brokers accounts. With this access, fraudsters may steal money, make unauthorized purchases or transactions, steal identities, and engage in other malicious activities.

Also, scammers may try to use the stolen login details to access social media, email, banking, gaming, or other accounts and use them for malicious purposes (e.g., sending fraudulent messages to others). Thus, this scam should be ignored to avoid the associated risks.

Similar scam emails in general

This scam pretends to be from Interactive Brokers (a legitimate online brokerage firm) and attempts to trick the recipient into opening a fake website. The website asks for the user's login details, and any information entered is sent to scammers. The message and website should be ignored to avoid potential negative outcomes.

It is worth noting that sometimes scams like this one can be used to deliver malware. Some examples of similar scams are "First Abu Dhabi Bank - Funds Transfer Documents", "Internal Error", and "Bill Holdings - Initiated Payment".

How do spam campaigns infect computers?

Cybercriminals spread malware through emails containing harmful attachments or links. These attachments often come as infected Office files, PDFs, script files, executables, or archive files, such as ZIP or RAR.

The malware activates when the recipient opens the infected file, turns on macros, or performs other actions. Some scam emails also direct users to malicious websites that automatically download malware or trick users into executing it on their devices themselves.

How to avoid installation of malware?

Be careful with unexpected emails or messages that contain attachments or links, especially when the sender is not familiar. Only obtain software and files from trusted official sources or app stores, and refrain from using pirated programs, cracks, or keygen tools. Keep your operating system and all programs up to date.

Avoid interacting with ads, pop-ups, links, or any content on suspicious sites, and block those sites from sending notifications (if they request it). Use dependable security software and perform routine system scans.

The appearance of the fake website used in this scam (GIF):

Text presented in the "Interactive Brokers - Account Review Confirmation" email letter:

Subject: Annual Account Review Confirmation

Interactive Brokers

Annual Account Review Confirmation
Dear Client,

In accordance with regulatory requirements, Interactive Brokers must conduct a routine annual review of your account. To complete this review, please confirm your information and provide your electronic acknowledgment. No document uploads are required.

Account Review and Tax Residency Confirmation

I hereby confirm and agree that:
1. My identity information and residential address are accurate and up to date.
2. My tax residency status and related forms (W-9 / 1099) remain unchanged.
3. I understand this review ensures compliance with AML, sanctions, and tax regulations.
4. Failure to confirm may result in temporary account restrictions.
5. I consent to receive notices related to this review electronically.
If you do not complete the confirmation within the required timeframe, your account may be restricted, including limitations on trading, deposits, withdrawals, or dividend processing.
Log In and Complete Review
Interactive Brokers

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Quick menu:

• What is Interactive Brokers - Account Review Confirmation phishing 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?

Scammers often send the same email to many recipients at once. These messages are impersonal and their purpose is to trick at least someone.

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

If any login credentials were exposed, change the affected passwords. If sensitive details such as credit card numbers or ID information were shared, report it to the appropriate authorities as soon as possible.

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

Infected executable files can run malware immediately when opened. Other file types, like documents, typically need the user to enable macros or take extra actions before the malware activates. The risk of infection varies depending on the file type.

I have read the email but did not open the attachment, is my computer infected?

A device becomes at risk only when someone opens a malicious attachment or clicks a harmful link in the scam message. Simply opening the email itself is not dangerous.

Will Combo Cleaner remove malware infections that were present in email attachment?

Combo Cleaner can detect and remove most known malware. Because advanced malware may hide deep in the system, running a full system scan is essential.