New Trends in Cyber Scams

New Trends in Cyber Scams


Photo credit: iStock/BrianAJackson

According to the cyber security company, Symantec – known for their Norton and LifeLock products – cyber criminals reached “new levels of ambition” last year.

Below are some key highlights of their 2017 Internet Security Threat Report.

Email
Deemed “the weapon of choice,” one in 131 emails sent in 2016 contained a malware-laden link or attachment – the highest rate in five years. Malicious email is “a proven attack channel,” reports Symantec. “It doesn’t rely on vulnerabilities, but instead uses simple deception to lure victims into opening attachments, following links, or disclosing their credentials.” Burgeoning trends in what awaits in your inbox:

  • Spear-phishing attacks aimed to defraud specific people rather than more widely distributed generic messages. Often disguised as routine correspondence such as invoices or delivery notifications, one spear-phishing campaign – spoofed emails instructing targets to reset Gmail account passwords – provided access to Hillary Clinton’s campaign chairman John Podesta’s account and resulted in hacked emails revealed by WikiLeaks during the 2016 presidential election.
  • Business email compromise (BEC) scams, which rely on carefully composed spear-phishing emails that target more than 400 companies each day, scamming more than $3 billion over the last three years.
  • A growing proportion of spam – roughly 53 percent of all emails sent – now contains malware.

Ransomware
Often initiated by email, ransomware attacks increased 36 percent worldwide in 2016 to seize control of personal computers and institution-wide networks, encrypting hostage files to make them inaccessible until a ransom is paid for their release. Termed by Symantec as “the most dangerous cyber crime threat facing consumers and businesses in 2016,” the company identified 101 new “ransomware families” last year – tripling previous numbers.

Another three-fold increase: The demanded ransom amount – an average of $1,077 per victim compared to just $294 in 2015. The U.S. is the most targeted and lucrative market, says Symantec, with 64 percent of American victims willing to pay a ransom to regain their files, compared to 34 percent globally.

Data Breaches
Although the total number of data breaches decreased last year – 1,209 compared to 1,211 in 2015 and 1,523 in 2014 – they now have a bigger impact. Symantec says that last year, some 1.1 billion identities were exposed, an average of 927,000 per attack; that’s twice the 2015 rates on both counts. In 2016, there were 15 individual breaches in which more than 10 million identities were exposed, up from 13 in 2015.

“Smart Home” Devices
With weak factory-issued default passwords that are rarely changed (or can’t be), smartphone app-controlled household devices including thermostats, security cameras, door locks, sprinkler systems and even coffee makers are a worrisome new frontier in computer crimes. Such Internet of Things (IoT) gizmos are already in millions of Americans homes, with predictions that some 50 billion devices will be employed by decade’s end.

Already, millions IoT devices have been hacked, typically enlisted as soldiers in a botnet army that, last October, temporarily knocked offline top websites including Amazon, PayPal, Netflix and Twitter. Some experts suspect this was a test attack to gauge (and prove) their vulnerabilities.

Most often hacked are IoT devices with these passwords, so if you can change them, do so ASAP: “Admin” and “root” lead the list in attempts to log in to the Symantec honeypot (a security technique used to attract swindlers and learn their practices), followed by “123456,” “12345,” “password,” “1234,” “admin123,” “test,” and “abc123.” The default password for the Ubiquiti brand of routers – “ubnt” – was also in the top 10, reinforcing the wisdom of having a unique (and strong) password for your home router as well as each smart home device.

For information about other scams, sign up for the Fraud Watch Network. You’ll receive free email alerts with tips and resources to help you spot and avoid identity theft and fraud, and keep tabs of scams and law enforcement alerts in your area at our Scam-Tracking Map.

 

 



Source link

What to Know About the Top Summer Scams

What to Know About the Top Summer Scams


As temperatures rise, so do certain scams. Here’s how to avoid getting burned in summer’s most common cons:

Home Repairs
Conning contractors typically come to your home unexpectedly, offering steep discounts on driveway resurfacing, roof work, tree trimming or other “necessary” repairs they happen to see while driving by or soliciting business door-to-door. Most seek an upfront payment to “go buy materials” and then disappear. Others do fast and faulty repairs (like spreading used motor oil to coat driveways) or may stop mid-job to extort more money … or find subsequent chores to continue the wallet-draining. What to know:

  • Good contractors are usually too busy to make unsolicited house calls; out-of-state license plates suggest fly-by-day “gypsy travelers” who spend summers going state to state to con elderly homeowners.
  • Despite scare tactics urging immediate repairs, most home repairs can wait until you get several bids from contractors. Get recommendations (and check results) from neighbors, building officials and lumberyards/plumbing/electrical supply shops where pros shop.
  • Don’t pay until the job is complete. Reputable contractors have credit lines to buy materials, although a deposit may be required for major projects like replacing a roof, windows, etc.

 

Vacation Rentals
Angling for upfront payment (usually by wire transfer or prepaid debit card), scammers steal photos and descriptions of properties from Realtor, hotel or vacation rental websites, and then clone the ads, offering supposed hot-spot “rentals” at discounted prices. What to know:

  • Before answering ads, Google the address, as well as names, emails and phone numbers of the supposed landlord or agent. Also cut and paste into a search engine large chunks of the descriptive text. Red flags include the property is actively up for sale (not for rent), a nonexistent address, an address listed for a business or other nonresidential property, and/or postings by people who fell victim to this particular scammer.
  • Don’t rely solely on email correspondence. Many rental scams are carried out by Nigeria-based scammers (so beware of poorly written ads). You’ll want to talk by phone; beware of foreign accents and area codes that don’t correspond with that of the property’s location.
  • Travel reservations and deposits should be made with a credit card or PayPal — never with a wire transfer or prepaid debit card.

 

Door-to-Door Sales
Summer and fall are prime time for all types of salesmen to come knocking — literally. Some may be legit but others are not. Magazine sales, often touted as a fundraiser, are especially popular bait preying on older Americans; other popular pitches are for bogus charities, home security systems, even overpriced household devices such as vacuum cleaners. What to know:

  • Just say no to strangers. Prices of magazine subscriptions sold door to door, for instance, are often marked up about 300 percent. Legitimate salespeople and fundraisers will have “leave-behind” material to review before opening your wallet.
  • If you do make a purchase and have regrets, act quickly. The FTC’s “Cooling-Off Rule” dictates a three-day cancellation allowance for a full refund on purchases over $25. Legitimate salesmen must reveal this rule during their pitch; if they don’t, assume it’s a scam.
  • Don’t allow sales reps into your home. Asking for a drink of water or to use your bathroom is a popular way to steal medications, purses and other grab-and-go items.

 

Moving
Two of three moves occur in the summer, and thousands each year end this way: After a moving company quotes a reasonable (if not lowball) offer, after the truck is loaded, the quoted price jumps sky-high, and belongings may be held hostage until customers pay the extra money. What to know:

  • Stick with known companies. Most rip-off rogues are movers who advertise on Craigslist or crude roadside signs. Visit protectyourmove.gov and verify a company’s licenses and complaint history.
  • Pass on any mover who won’t do an on-site inspection of your goods (instead giving a sight-unseen estimate), won’t provide a written estimate or says workers will determine the price after loading, demands a large deposit before the move, or asks you to sign blank or incomplete documents. Those red flags indicate a scammer.
  • Moving boosts your risk of identity theft. Know how to protect yourself before, during and after a move.

 

For information about other scams, sign up for the Fraud Watch Network. You’ll receive free email alerts with tips and resources to help you spot and avoid identity theft and fraud, and keep tabs of scams and law enforcement alerts in your area at our Scam-Tracking Map.

 



Source link

‘Found’ Money for a Fee? Beware of New Surge in Unclaimed Property Scams

‘Found’ Money for a Fee? Beware of New Surge in Unclaimed Property Scams



A longtime scam is back with a vengeance: Claims that state officials are holding money or property that belongs to you, and all you need to do is pay a fee to claim it.

Actually, the first part could be true. You could be entitled to a slice of some $43 billion in “unclaimed property” that sits in state treasuries – money from forgotten bank accounts, insurance policies, stock dividends, utility security deposits, even contents from abandoned safe deposit boxes.

But you don‘t have to pay anyone to get it. The only cost is spending a few minutes at www.MissingMoney.com, www.Unclaimed.org, or websites of the treasurer’s office in each state where you lived.

Ignore “pay-for-payment” requests that come via mailed letter, email or telephone calls because they are from scammers, and reports about the come-on cons have increased ten-fold this year compared to 2016…and in recent weeks, have exploded in many parts of the U.S.

There are several variations in unclaimed property scams, each angling for personal information (that could be used for later identity theft) and upfront payment to secure missing money that, if actually awaits you, can always be claimed for free:

  • Fraudsters lie about being an employee or affiliate of a State Treasurer’s office where you currently live, or a state where you previously resided.
  • Fake correspondence comes on letterhead from the National Association of Unclaimed Property Administrators (NAUPA), a legitimate organization that represents state unclaimed property programs but does not directly contact citizens.
  • Self-described “finders” or “locators” who say they have already located your missing money or will do the legwork on your behalf. Some are legal but unnecessary middlemen who charge commissions up to 40 percent (although some states cap allowed fees at 10 percent); others are crooks who do nothing more than collect your payment and personal information – including Social Security number – to direct you to publically available websites…if they do anything at all.

Most targets in unclaimed property scams are chosen randomly. Fraudsters buy mailing lists to reach hundreds or thousands of citizens with the same bogus claim. (Last year, it was a letter claiming to be from NAUPA or the “Office of the State Treasurer” that falsely stated that recipients had unclaimed sweepstakes winnings whose allocation would require a $2,250 service fee.)

But for a more convincing con, some would-be victims are contacted after fraudsters search MissingMoney.com or Unclaimed.org to unearth specific details such past addresses or actual entitlements.

In addition to those two websites, DIY (and no-cost) due diligence for other missing money can be done for:

 

All of these websites will require your Social Security number and other sensitive information. But unlike scammers, you will not be asked for bank or credit card information. Don’t reveal personal information unless you initiate contact with these agencies or use their websites.

For information about other scams, sign up for the Fraud Watch Network. You’ll receive free email alerts with tips and resources to help you spot and avoid identity theft and fraud, and gain access to a network of experts, law enforcement and people in your community who will keep you up to date on the latest scams in your area.

Also of Interest

 

Photo Credit: iStock/Pogonici

See the AARP home page for deals, savings tips, trivia and more.



Source link

Pin It on Pinterest