Business
Focused
Technology

New Scam Uses Fraud Support Social Engineering To Take Victims For Thousands Of Dollars

A new scam borrows a page from the tech support scams that target older victims telling them potential fraud has been found, offering to “help” solve the issue and ultimately asking for banking details.

Security researchers at Malwarebytes highlight a new scam in which victims are called offering to help the victim with identified fraud on their bank account, drawing attention to both the idea of fraud and the victim’s money. But instead of triggering a response that puts the victim on edge and suspicious of everyone, this Fraud Support scam seems to instead put its victims at enough ease that they walk scammers right into their bank account.

While this scam typically preys on older victims, it demonstrates that if you align the right scam with the right target victim audience and create the right level of urgency, any scam – even one that feels a lot like the tech support scams – can be successful.

The scam also makes it clear that successful scams and cyberattacks don’t exclusively use email as their medium, making it obvious that anyone within an organization that has access to the company’s finances be put through Security Awareness Training to ensure they understand all the possible ways financial scams can take place, and how to avoid making your organizations a victim.


Source: KnowBe4

President, Manufacturing Company

We are high speed and wireless with computer systems for everything we do. I do not worry at all because it has not been an issue since IT360 became a part of our company.

President, Manufacturing Company

Recent
Technology News

IT360 News
Why You Should Outsource IT Support in a Recession

Bear markets are often a sign of an impending recession period. You cannot completely foolproof your business from the eventualities of an economic downturn, but you can at least prepare for what’s coming. In fact, there’s no better place to start than outsourcing your IT support. Here’s how outsourcing IT in a recession can benefit […]

Read more
IT 360 News
Impersonation Phishing Attacks Increase as Credentials Take the Lead as the Primary Target

New data shows an upswell of email-based cyberattacks, with over 256 brands being impersonated, as social media, Microsoft, shipping, and ecommerce brands top the list. There’s been a lot of changes in the volume of email-based cyberattacks, according to security analysts at Abnormal Security. According to their H2 2022 Email Threat Report, the number of […]

Read more