Blog - The State of the Scam

The number of cyber attacks conducted per week on businesses was up by 50% at the end of 2021—with predictions that this number will only continue to rise in 2022. Cybercrime has always been around, but what’s made it more aggressive recently?

The pandemic has had us all spending more time on our devices to stay connected and the more people there are online, the more criminals will be there as well. The objective remains the same—money, personal information, etc.—but the craftiest scams wear a new outfit every so often to better hide the red flags we know to look out for.

Phishing is still the most common (and arguably the most successful) tactic for scammers to use in 2022.  There are many different kinds of phishing, including:

🎣Spear Phishing

🎣Vishing

🎣Smishing

🎣Social Media Phishing

🎣Whaling (or CEO fraud)

🎣And more….

Vishing attacks occur over phone calls (like those calls about your car’s extended warranty), smishing occurs over text messages, and whaling targets big fish, like CEOs.

While phish may wear different scales, a lot of the tricks for spotting them are universal. 🌍 Verify senders that seem unfamiliar, out of character, or normally interact with you little, through another trusted means of communication (i.e. if you get a suspicious email, send a text message following up). Scammers will use a false sense of urgency to trick you into acting quickly without thinking. Keywords like “Immediate Attention” and “ASAP” could be indicators that you’re looking at a phish.

If unknown or unexpected attachments or links are sent to you, the risk of it being malicious is high. Don’t download any unknown files to your device without verifying the sender and legitimacy of the attachment first. A good way to spot fake links is to hover over them (careful not to click!) and see what website URL pops up. If the name of the link and website don’t match up or seem suspicious, it’s time to call the security team in to help. 🤺

When a phish swims into your inbox, texts, etc., they can be an effective carrier of different scams. Advertisements for phony travel prices, fake retailers with amazing deals, or hacked/spoofed celebrities soliciting charitable donations for a worthy cause are only a few of the scams to watch out for.

Scams are financially motivated and will often seek a user’s private information. Scams around online shopping, travel insurance, scareware, debt forgiveness, and more target all of our interactions online. When some of your information is leaked, it just makes it easier for the bad guys to make even more convincing targeted scams for you in the future.

Targeted ads pop up everywhere online, but some of these deals are too good to be true. Fake ads can redirect you to malicious websites or even let you pay for goods you’ll never receive (while giving up your card information in the process). While shopping online, verify that the URLs match the company you’re shopping with, especially on the checkout screen. Even big businesses can be hacked—formjacking allows cybercriminals to steal website traffic from real retailers and send them to fraudulent pages.

Overpayment for goods and services is commonly used as a way to steal your money. A scammer will send more than the agreed-upon amount, then ask you to wire back part of the money they sent you. The trick is that their check or transfer will bounce after you’ve already sent a refund to them from your account. If you’re ever asked to send back an overpayment, it might be time to report and seek help. 💰

⭐Pro Tip: Scams may take a lot of different forms, but if a company or individual ever asks you for payment before services are rendered OR for you to pay them before you can receive the advertised benefit (such as an application fee for a debt consolidation loan) it’s more likely to be a scam.

One of the biggest tactics used by scammers is a sense of urgency. Emails and flyers for 0% interest loans and debt forgiveness are peppered with phrases like “Limited Time Only” to tap into your innate fear of missing out. Don’t feed into the hype. If an offer really interests you, take the time to research the company and read lots of online reviews before responding. And, when contacting the company, use a trusted contact from the company’s website just in case the original contact was a spoof.

More aggressive scams, like those involving impersonation of the government for tax collection, will try to frighten you into sending money or information… or else. Remember that organizations like the IRS will rarely contact you without a formal letter first and are not aimed at bullying you. If you’re suspicious about strong-arm debt collection or correspondence, reach out to the supposed organization directly through an alternate form of contact.

New scams pop up every day, so stay vigilant. Don’t reveal personal information online unless the source is verified and trusted. When in doubt, don’t be afraid to report anything suspicious to the security team. Reporting scams helps us identify what to watch out for and helps us protect each other. 🤝 Stay safe out there!