With the COVID-19 crisis sweeping the globe, cyber criminals are aiming to exploit people’s fear and uncertainty, preying on the current weaknesses most businesses/individuals are facing, including temporary closings. Scammers and fraudsters are taking advantage of rapidly changing data and facts associated with COVID-19, both in the workplace and in our homes. Government agencies, corporations and news outlets continue to warn individuals to be mindful of increased fraudulent activities during these uncertain times.
These scams, which can be sent via email, text message and social media, claim to provide COVID-19 updates, sell products, ask for charitable donations or reference government aid packages. These messages appear to be legitimate in nature but seek to fraudulently obtain personal information, reap financial gain and create panic. Use the following tips to identify and avoid scams:
Check Your Information
Watch for emails claiming to be from the Centers for Disease Control and Prevention (CDC) or experts claiming to have inside information on the virus. There are currently no vaccines, potions, lozenges or other prescriptions available online or in-store to treat or cure COVID-19.
Do your homework prior to donating to charities or crowdfunding sites. Confirm the validity of the organization, as fraudsters are now advertising fake charities. Do not let anyone rush you into a donation, particularly those who ask for cash, gift cards or wiring of funds.
Obtain your news from a trusted source. Be mindful of text message scams, social media polls and fraudulent email accounts sharing false information to create panic. Before acting on information, review its source and check a trusted news outlet to confirm its validity.
Watch What You Click
Do not click on links or open attachments from sources you do not know. Cybercriminals are using the COVID-19 headline as a tactic to spread computer viruses and steal information. Do not provide personal information, payment information or sensitive workplace information via suspicious email addresses.
Be suspicious of urgent demands and emergency requests. The health and safety of you and your family is the top priority. Do not fall for scammers threatening fees or fines, cancelled deliveries or health concerns in exchange for financial gain.
Proceed With Caution
If it sounds too good to be true, it likely is. Many individuals have begun to receive robocalls and social media requests for social security numbers, banking information and gift cards. Scammers promise high-paying work from home opportunities, free sanitation and cleaning, as well as COVID-19 protection in exchange for payment and sensitive information.
Be mindful of scammers using government aid packages for criminal gain. Lawmakers have announced plans to send Americans checks to assist with the financial burden of the virus, with details still in discussion. The government will not request payment, nor will anyone reach out requesting personally sensitive health or financial information in exchange for financial support.
When in doubt, ask a coworker, family member or friend for their opinion. Two sets of eyes are better than one. If you believe you have fallen victim of a scam, call your local police at their non-emergency number and consider reporting to the FBI’s IC3 Internet Crime Database.
Now more than ever, as operations are moving towards additional digital platforms, their exposures to enhanced cyber risk and vulnerability are increased as well.
While dealing and recovering with the aftermath of the pandemic, more businesses are at a higher risk of cyber attacks. According to the FBI’s 2019 Internet Crime Report, business email compromise (BEC) scams were, by a considerable margin, the most damaging and effective type of cyber crime in 2019. Accounting for half of last year’s cyber crime losses, BEC attacks amounted to $1.77 billion in losses for victims, which is, on average, $75,000 per complaint. Given the rising incidence of social engineering fraud, especially in these challenging times, all companies should implement basic risk avoidance measures.
Frank DeLucia currently serves as senior vice president of HUB International Northeast, a leading full-service global insurance brokerage. Frank can be reached by phone at 212-338-2395 or at frank.delucia@hubinternational.com. For more information on HUB, please visit www.hubinternational.com.
