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Defeat the scammers by educating yourself and your employees about these increasingly common tax-related scams.

Scammers are increasingly resourceful when coming up with scam techniques. But they often rely on long-standing persuasion techniques for the scam to work. So, you may hear about a new scam that uses a novel narrative, but there is a good chance that the scam relies on proven scam techniques once the narrative is stripped away. These scam techniques often exploit our characteristics and heuristics, or things that make us human and fallible.

When the pandemic hit in 2020, our world became chaotic overnight. Throughout the nation, individuals were met with layoffs or stringent checks—pushing the financials of families to their breaking points. Simultaneously, business organizations faced similar issues; because fewer bodies were allowed in the same area, production trickled to a minimum, niche clients limited their spending, and small businesses counted the days until their doors closed.

I recently read an article about a bright, sophisticated woman who fell victim to an unbelievable scam. By unbelievable, I mean most people reading or hearing about it could not believe it was successful. A group posing as an Amazon employee and various U.S. law enforcement agencies were able to convince a woman to take $50,000 out of her bank account in cash and hand it off to a complete stranger in the streets. It is a wild story and most of us would not be tricked into doing what happened to her.

What happened with a fake call purporting to be from Amazon tricked a financial advice columnist into handing over $50,000 to a stranger.

A widespread malvertising campaign is attempting to trick users into paying phony utility bills, according to researchers at Malwarebytes. “We discovered a prolific campaign of fraudulent ads shown to users via Google searches,” the researchers write. “To give an idea of scale, the number of ads we found exceeds what we have found in previous malvertising cases....The scam begins when a user searches for keywords related to their energy bill.

The first step in combating retail fraud is learning which forms it takes. That’s easy enough, because there are two main types of retail and eCommerce fraud today: The second step in stopping retail fraud from harming your business is to understand how each type of fraud works, then implement a strategy to protect against it.

When encountering a scammer online, the best method is to block, report, and move on. Let the law take charge of handing out consequences to scammers, and you can focus on stopping scammers in their tracks. Sometimes, this can be more challenging as online scammers become more adept at tricking people into believing their lies, using technology, social engineering, and emotional manipulation to achieve their aims.

Valentine's Day. A time where love is in the air, florists work overtime, and restaurant tables are as scarce as a truthful politician. But as we're busy swiping right in hopes of finding that special someone, cybercriminals are swiping left...on your security. Heartbreak hits differently when it's your bank account that's been ghosted.

As the digital attack surface expands, organizations and individuals worldwide face the nonstop threat of cyberattacks, phishing scams, and other cyber vulnerabilities. And with Valentine’s Day here, romance scams — especially ones originating online — are intensifying. With that in mind, SecurityScorecard’s researchers took a close look at the world of dating app security and romance scams to protect people—and their hearts—during Valentine’s Day.

With Valentine’s Day just around the corner, it comes as no surprise that Egress’ Threat Intelligence team is starting to see an uptick in romance-based phishing attacks. In particular, they noted a staggering 43% increase in attacks impersonating well-established dating apps including Tinder and Hinge between January 1, 2024, until February 5, 2024, compared to 2023. This is only likely to increase as the day draws closer.

A few ways you can identify if a text message is fake is if its context is irrelevant to you; it’s claiming to be someone you know from an unknown number; it displays a sense of urgency; it’s asking you to click on a link; and it contains spelling, grammatical errors or both. In recent years, there has been an abundance of fake text messages targeting individuals to steal their personal information – placing victims at risk of having their identity stolen and losing money.

The US Federal Trade Commission (FTC) has disclosed that people in the United States lost a record $10 billion to fraud in 2023, a 14% increase from 2022. Nearly half of the losses were due to investment scams. “Consumers reported losing more money to investment scams—more than $4.6 billion—than any other category in 2023. That amount represents a 21% increase over 2022,” the FTC says.

2023 repeated some familiar payment fraud trends from 2022.There were some shifts in the prevalence of different fraud types, according to data from Verifi. The persistence of phishing remains at the forefront, posing significant challenges for businesses and consumers. Notably, friendly fraud became the second most prevalent fraud seen in 2023.

New research shows a 704% increase in deepfake "face swap" attacks from the first to the second half of 2023. A report from biometric firm iProov warns that "face-swapping" fraudsters are increasingly using off-the-shelf tools to create manipulated images and videos.

Last year, text scammers prowling around on messaging platforms like WhatsApp sent a staggering 19 million messages in December alone. When ploys like these can rake up over $10 million in a matter of months, it’s easy to see why. Which WhatsApp messages are real this year, and which are not? With social engineering attacks, it's increasingly harder to tell. Here’s a look at the most probable WhatsApp scams in 2024 and what you can do to avoid them.

Since January 13th, 2024, our Threat Intelligence team has seen a steep rise in the number of fraudulent payment attacks using Venmo. By hacking existing or setting up new Venmo accounts, cybercriminals are using legitimate Venmo communications to trick users into approving fraudulent payments.

Cybercriminals are notoriously adept at evolving their strategies and tactics to defraud individuals and businesses out of their hard-earned money. One perfect example of the evolution of effective and illusive financial fraud is card skimming. But is card skimming still a thing in 2024? Very much so. According to the FBI, card skimming fraud still costs financial institutions and American consumers more than $1 billion yearly—and it’s growing.

A new scam relies on a victim's sense of curiosity, brand impersonation, and the hopes of a new login to compromise Facebook credentials. We’ve all seen one of those posts on social media about some actor, musician or famous person that has passed away. Feeling a sense of sadness and wanting to know more details, these posts garner a lot of attention.

From overacting to poorly crafted characters, it’s crucial to recognize red flags in cyber-scripts, weak dialogue, and fake chemistry in online interactions.

While online dating scams may be a relatively new concept, tales of heartbreak are as old as time. Now, there’s a multi-billion dollar industry dedicated to romantic films, music, and, dating apps. By the end of 2023, dating apps will have reached over 400 million users, generating over $8 billion in revenue through dating, casual dating, and matchmaking services.