Fake it till you make it? Financial fraudsters are setting up fake websites and posing as financial consultants from call centers.
Late last month, Bulgarian police took down a financial crime ring that was responsible for stealing at least €10 million. Experts say that this could be happening here, too, targeting financial customers.
According to CSC’s Domain Security Report, “Internet fraud is typically targeted, using a variety of threat vector forms, and is a systemic issue,” said Ihab Shraim, chief technology officer, Digital Brand Services at CSC.
“These threat vectors start with a fraudulent domain containing a look-alike brand name, and then plaguing businesses and consumers with fraudulent offers launched via a variety of attacks such as phishing, brand counterfeits, malware downloaders (e.g. ransomware), and the recent rise of lethal attacks combining several threat vector simultaneously,” said Shraim. “Bad actors use all available platforms to include search engine results, app stores, social media, email, and marketplaces to carry-on these scam campaigns.”
Clark Frogley, Americas head of financial crime solutions at Quantexa, said, “Organized crime is getting smarter and more sophisticated every day. They know people are hearing about skyrocketing crypto currencies, or real estate investments and they know they can…
