Online frauds increased by 70% because of Corona Virus

Online Frauds such as shopping, dating and finance related have increased by 70% in 2020 says a research carried out by Action fraud. The intelligence unit of UK that analysis frauds related to cyber-crime claims that there has been a 50% growth in frauds when compared to 2019.

The rise in cyber attacks is because of the increase in people working and shopping from home due to the spread of corona virus.

Majorly, vehicle scams have increased in the 3Q of 2020 claims the research as fraudsters are seen posting images of cars online to steal money.

UK’s cyber crime unit says that scams related to second hand purchase have increased through eBay or cars for u as cyber crooks are seen trading cars that do not exist and are seen stealing money from innocent victims’ bank accounts.

Some traders who are signing the code of conduct on eBay are also seen duping customers by posting fake advertisements on various social media platforms.

Coming to banking scams, the research claims that the Spin the wheel scams have increased by 17% in the past 3 months of 2020, where scamsters are seen duping victims by asking them to disclose their bank credentials to transfer the winning amount. And one out of 100 are seen falling prey to the scams, eventually losing millions of pounds to the fraudsters.

Being vigilant, staying away from suspicious apps and websites, and keeping a tab on bank statement once or twice a week makes complete sense in eradicating such online frauds say experts.

Also, using an anti malware solution on the device or laptop you are often using for online shopping makes sense in keeping away from scams and hackers.

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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