Why Online Scams Are on the Rise

Introduction

In today’s fast-paced digital environment, online scams are becoming alarmingly. Cybercriminals are regularly exploiting new techniques to exploit online users either in the form of #phishing emails or through #fakewebsites. Both individuals and large corporations are on high risk of becoming a victim of these frauds due to recent growth of #onlinescams. Today I am going to discuss that why these online scams are on the rise, some samples of scam messages, emails, fake websites and how can users protect themselves of becoming a victim to them? Therefore first let’s explore major factors which are contributing to this surge of online scams and then we I will try to explain the ways which will help the user to stay safe.

Factors Contributing in Rise of Online Scams

1.     Increased Dependant on Internet

The internet has become an important ingredient of our lives due to this we heavily depend on it. This dependency has made the task of #cybercriminals even easy. In today’s modern age, more and more people are using internet for online shopping, social media activities, and are doing #onlinebanking. This widespread use has made it easier for scammers to target users through techniques like #smishing and #phishing.

2.     Sophistication of Cyber Techniques

In the evolving digital world, scammers are also using more and more sophisticated techniques. This has made online frauds harder to be detected. Phishing emails, fake websites, #machinelearning and #AI generated content has made it easier to depose them as a trusted organizations or individuals. #DigitalFraud tactics have evolved to the point where even technically sound users are becoming victims of these scams. Many fraudsters take advantage of #ArtificialIntelligence to personalize scams. This personalized message makes it more believable and hard to resist by the user which results into becoming a #scamvictim.

3.     Financial Motivation

Like any other type of fraud or scam, one of the most significant reasons behind the surge in online scams is financial benefits. Cybercriminals get huge financial rewards if they are able to steal sensitive data. They do this by hacking into #financialsystems or gaining access to personal banking information. Once they succeed in gaining this type of data, scammers can easily make huge money out of that data.

4.     Lack of Awareness and Education

Despite frequent warnings, social service messages and adds; most of the people still are not fully aware of the latest online scams or how to recognize them. This lack of #cyberawareness facilitates the scammers and provides an added advantage to them. Due to this lack of awareness they target this majority of lesser informed users with fake emails, messages, or investment plans.

5.     Global Connectivity

The internet is considered as a mean to connect people worldwide. Therefore, this also means that scammers can also operate across borders without territorial restrictions. To enhance the impact of their scams, #Cybercriminals from different regions work together and share their tools and methods to launch more sophisticated and complex scam. This cross border activities is a big hurdle in tracking these criminals. This hurdle is well known to the cybercriminals due to which we are experiencing an increase in successful online scams.

6.     Growth of Dark Web Markets (#InternetSafety)

The dark web is an underground market which facilitates the buying and selling of personal data, credit card information, and even #Hacking tools. This underground market allows #CyberCriminals to gain resources quickly and at a very low cost. This quick and cheap availability of resources makes it easier to run large scale scams. With the growth of these markets, the rate of online scams also increasing manifold. Because it creates an environment where it is easy to buy and sell hacked or stolen data anonymously.

Scam Messages

For better understanding about how the scammers lure the targeted users to gain access to their sensitive information and succeed in online scams, let’s have a look at samples of different types of messages.

Fake Account Suspension Alert

“URGENT: Your account has been suspended!
Dear User,
We’ve detected suspicious activity on your account. To avoid deactivation, please verify your information here: www.bankxyx.verify.com.
Failure to act within 24 hours will result in permanent suspension.
Thank you,
Security Team”

Phishing through Prize Winning Notification

” Congratulations! You’ve Won!
Hello [Your Name],
You’ve been selected as the winner of a $500 gift card from [Name of Fake Company]! Click here to claim your prize: [malicious link].
Hurry! This offer is valid for the next 12 hours only!
– The XYZ Team”

Fake Job Offer

” Job Opportunity: Work from Home!
Hi [Your Name],
We’re thrilled to offer you a part-time position with [Fake Company]! Earn up to $3,000 per month from the comfort of your home. No experience needed.
To proceed, send your personal details and ID for verification: [fake email address].
Looking forward to having you on board!
– Hiring Manager, [Fake Company]”

Phishing Emails

Scammers use different types of phishing techniques to enforce the user to fall into their trap. Below are different sample phishing emails for better understanding.

Fake Email from Bank

Subject: Account Verification Required
“Dear [User’s Name],
We noticed an unusual login attempt on your bank account. To ensure your security, please confirm your information here: [fake bank link].
Failure to verify within 24 hours will lead to account restrictions.
– [Fake Bank Name] Customer Support”

Fake Email from any Government Agency

Subject: IRS Payment Required Immediately
“Attention: [Your Name],
This is a final notice for overdue tax payment. Failure to comply will result in legal actions. Please submit your payment through the following link: [fake payment link].
– Internal Revenue Service”

Fake Notification for Renewal of any Subscription

Subject: Subscription Renewal Alert
“Hello [User],
Your [fake service, like Netflix] subscription is set to renew soon. Update your payment details to avoid interruption: [malicious link].
– The [Fake Service] Team”

Fake Website Tactics

Another technique used by the scammers to trap the users is to send links of fake websites to the users. Then they somehow force them to click the given link and give their personal credentials on the fake website. Once the user provide its personal information on the given link it goes to the scammer.  Following are some of the techniques which are commonly used by the scammers to obtain user information.

Spoofed Bank Login Pages

Fake banking websites often seem to be identical to the real bank’s login page; but, they have different URL, like “https://secure.bankofabc-login.com.” When users enter their credentials, scammers capture them instantly.

Here the point to understand is that had this domain be like “https://login.bankofabc.com”, it could be deemed to be legitimate. The reason is that actual domain name is the bank name.

Fake E-commerce Websites

These sites are almost identical to the popular e-commerce stores. On these fame websites they offer unbelievable discounts on high demand items. Once users enter their payment info, it goes into the hands of scammers. These URLs might look like “https://deals-amazon-us.com.”

Again in this case had the URL be like “https://deals.amazon.com”, it could be a legitimate URL.

Fake Payment Gateways

Scammers generate fake payment gateway websites which are similar to the original payment processors websites (like PayPal or Stripe). These fake websites appear as pop-ups or payment page of fake e-commerce sites. Once users enter their details, the scammers capture them.

Fake Technical Support Sites

Scammers have also launched fake websites like “https://microsoftsupport-usa.com“, which claim to offer technical support for legitimate companies, as in the example above it appears to be a support page link of “https://microsoft.com”. When users go to these types of links, they are asked to download software, which actually are malware.

Tips to be Considered by Users to Identify Scams

Minor Typing mistakes in URLs:

Scammers may replace letters or use subdomains, like “https://faceb00k.com” or “https://login.xyzbank.customer.com.”

Language in Messages:

Scammers often use urgent or threatening language to create a sense of hurry to the victims so that they have lesser time to think.

Source of the Message:

If you are uncertain about the content and are doubtful about the source, you should always contact the company directly on his verified contact information or through their official website.

How to Protect Yourself from Online Scams?

1.     Stay Informed:

Users must educate themselves on the latest trends of scams and techniques which is being used by the scammers.

2.     Verify Before Clicking:

As discussed above, the users must double check URLs, email senders, and links before clicking on any one of them. If you are suspicious about the sender or the content, then you should immediately contact the sender on its verified contact information.

3.     Use Strong Passwords:

To prevent unauthorized access to your account or system, ensure that all of your online accounts have strong and unique passwords. A strong password means combination Alphabets, Numbers and Special characters.

4.     Enable Two-Factor Authentication (2FA):

2FA adds an extra layer of security to protect your accounts. In case your password is compromised, 2FA may also protect your account. Therefore, where ever 2FA is available, I will recommend you to keep it enabled.

5.     Report Scams:

If you have become a victim of an online scam or have come across any suspicious message, website or email, you should immediately report it to the relevant authorities of your area. This is how you can protect others from becoming victims of it.

Conclusion

Because of technological advancements, financial motivation, and the widespread of the internet, online scams are on the rise. Where the #digitalworld has a lot of opportunities, there it also requires vigilance to avoid becoming a victim of online scams. Therefore, I would say that by staying informed, taking necessary precautions, and raising #cyberawareness, we can protect ourselves from these rising threats.

#OnlineScams #CyberAwareness #DigitalSecurity #Phishing #CyberCriminals #ProtectYourself #OnlineSafety #DigitalThreats #StaySafeOnline #DigitalFraud #ArtificialIntelligence