How do criminals make money today, moving away from traditional methods of deception?
According to the Federal Trade Commission (FTC), in 2023, fraud, in which attackers impersonate well-known companies and government agencies, occupies a leading position among all user complaints.
In 2023 alone, more than 330,000 cases of fraud involving the forgery of business structures and almost 160,000 cases involving the imitation of government agencies were recorded, accounting for almost half of all fraud reports. The damage caused by such scams exceeded $1.1 billion, tripling compared to 2020.
Comparison of the number of scams between 2020 and 2023
The scammers methods have also changed significantly: if earlier they most often started their scams with phone calls, now they have switched to e-mail and text messages. At the same time, thefts via bank transfers and cryptocurrencies have increased. The boundaries between types of fraud have been blurred: cybercriminals can simultaneously impersonate representatives of different organizations, for example, an employee of marketplaces, a bank, or even special services.
The main types of fraud include:
To protect yourself from fraud, it is important not to click on links or react to unexpected messages. If in doubt, you should contact the company or institution directly through official contacts. Also, you should not trust the requirements for buying gift cards or using ATMs for bitcoins as a method of protecting funds. It is important to remain calm and not fall for the tricks of scammers who force you to commit undesirable actions.
According to the Federal Trade Commission (FTC), in 2023, fraud, in which attackers impersonate well-known companies and government agencies, occupies a leading position among all user complaints.
In 2023 alone, more than 330,000 cases of fraud involving the forgery of business structures and almost 160,000 cases involving the imitation of government agencies were recorded, accounting for almost half of all fraud reports. The damage caused by such scams exceeded $1.1 billion, tripling compared to 2020.
Comparison of the number of scams between 2020 and 2023
The scammers methods have also changed significantly: if earlier they most often started their scams with phone calls, now they have switched to e-mail and text messages. At the same time, thefts via bank transfers and cryptocurrencies have increased. The boundaries between types of fraud have been blurred: cybercriminals can simultaneously impersonate representatives of different organizations, for example, an employee of marketplaces, a bank, or even special services.
The main types of fraud include:
- False Account Security alerts: messages about suspicious activity or unauthorized transactions that require an urgent response or feedback.
- Fake subscription renewal Notifications: notifications about the upcoming automatic renewal of a subscription to services that you didn't even know existed.
- Gift and discount fraud: offers to get discounts or winnings from well-known companies or government organizations that end with a request to buy gift cards or transfer money.
- Fictitious legal problems: reports on behalf of government agencies that your identity was used to commit crimes, with requests to transfer money or top up your gift card balance.
- Nonexistent delivery problems: messages on behalf of postal and courier services about delivery problems, accompanied by requests for your bank details or payment for a new delivery.
To protect yourself from fraud, it is important not to click on links or react to unexpected messages. If in doubt, you should contact the company or institution directly through official contacts. Also, you should not trust the requirements for buying gift cards or using ATMs for bitcoins as a method of protecting funds. It is important to remain calm and not fall for the tricks of scammers who force you to commit undesirable actions.
