New Exploits & Examples Of Online Fraud

Uploaded on 2024-09-25 in TECHNOLOGY-Key Areas-Social Media, GOVERNMENT-Law Enforcement, FREE TO VIEW

If you have an issue with a company, complaining on social media can usually be an effective way to get your issue resolved more quickly. Now, the consumer magazine Which? has found scammers on X / Twitter posing as real customer service agents for a number of well-known brands.

Which? uncovered 37 fake accounts the looked like the fashion retailer Zara that were replying to customers' genuine queries on X in a bid to steal their personal data.

The scam accounts we spotted were actively responding to customer complaints that had tagged Zara's genuine X account. These fake accounts will often reply quickly, in the hope that customers won't notice they're being contacted by a fraudster.

Another criminal exploit are so-called courier scams on Facebook Marketplace and eBay A buyer, might claim they’re too busy to collect an item and says they’ll use a courier who’ll bring you the cash, and all you need to do is give them your bank details to pay the insurance, which can put your money or identity under threat.

A recent example of a courier scam was when a London man was sentenced to five years in prison for tricking people into handing over their money. He persuaded one victim to go to their bank and withdraw £5,000, which was then handed over to a courier, under the false premise of keeping it safe. This sentencing comes as courier scams are on the rise - costing people £28.7 million last year, according to figures from Action Fraud - with older people most likely to be targeted.

During the first two weeks in May this year, the City of London Police’s Lead Force Operations Room recorded more than 100 referrals for courier fraud - and 85% of victims were between 60 and 90 years old.

The latest variation of courier fraud involves requests for much larger sums of money and specifically targeting older people. An example is an unexpected phone call from someone purporting to be from the police or a local bank branch. The caller might know some of the target’s details, including their address or other personal data which are then used for identity theft and other criminal purposes .

Recent cases have seen victims persuaded to hand over jewellery, gold coins or their bank card with its Pin to couriers, sometimes with a password given to make it seem more legitimate. These valuable items are then surrendered to the courier, all under the guise of these being ‘evidence’ in an ongoing investigation and the victim told they can reclaim the money, only to find it’s all a scam.

Criminals are even impersonating solicitors to carry out conveyancing fraud, typically executed by a fraudster hacking into a solicitor’s or buyer’s email account and providing alternative bank details for deposits to be paid into.

Lloyds Bank has warned that it received 29% more reports of conveyancing fraud in the second half of last year compared with the first half. It also found that victims lost an average of £47,000 and around 45% of victims were aged 39 or under, signalling that first-time buyers may be most at risk.

Image: Mikhail Nilov

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