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Trick or Treat: Fraudsters Want Your Profits to Keep

posted on: Tue Oct 31 2017

Fraud comes in all forms and one thing is for certain this Halloween season – you don’t need to visit a haunted house to get the fright of your life. Whether it’s eCommerce fraud (something we know all too much about) or the usual wild west of the internet, businesses and consumers should sleep with one eye open with all of the horrifying scams out there. Luckily, Kount is here to share some of the more infamous schemes and ways to protect against them.

Scareware

This scary scam comes in the form of a nonexistent computer infection where a pop up asks if you want to “fix” the problem. But, there’s not a fix, and instead, unassuming users are directed to a rogue website that claims it provides repairs. These rogue websites angle for over-the-phone remote access of victims’ computers to install scareware (for future gotchas) and other dangerous programs. And often times end up bilking the users out of money.

Fake Friends

One scam that’s particularly troubling is the fake friend request: you get a request on social media (often Facebook) of someone with a familiar face. Seems harmless so you accept. BUT, what you should ask yourself is “am I already friends with this person?” because if you are, then this is likely a scam where a criminal is recreating an existing person’s profile. By accepting you have now given them access to your profile, aka a treasure trove of information with your date of birth, photos of your loved ones, status updates (including location and more). Be careful who you friend. If you get a request from someone you think you’re already friends with – ask them if they have created a new profile. If not, have them report it immediately.

Phishing Scams

Yes, this method has been around for a while, but it remains as scary and effective as ever. Under the guise of a legitimate company, scammers attempt to trick you into giving out personal information such as your bank account numbers, passwords and credit card numbers. For example, consumers will get an email from a commonly used site like Amazon, Paypal, or even Netflix. Typically, scammers ask for personal information by asking for confirmation on something the user didn’t buy or requesting they reset their log-in details. Red flags from these emails include misspelled words, grammatical errors, or questionable domain names. While in the past you may have been able to spot these fraudulent emails from a mile away, fraudsters have made these more sophisticated and deceptively legitimate. Anti-virus software is typically a solid first line of defense but never respond to un-solicited emails and NEVER click attachments as they may contain viruses or malware.

Fraudsters are all trick and no treat. Save your scares for a horror movie or a haunted hayride. Make sure you’re staying vigilant – personally and professionally – across your networks, because fraud is everywhere and ready to pounce. For more information on fraud prevention strategies and the latest trends in fraud, attend one of our many live events and webinars

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