online scams and frauds
TRANSCRIPT
Online Scams & Frauds
Quick Heal Technologies Private Limited
In The News – Last 10 Days
A Hyderabad-based industrialist has been tricked into parting with Rs. 1.48 crore after some online fraudsters lured him with fictitious prize money of million pound sterling's.
http://www.thehindu.com/news/national/andhra-pradesh/online-fraud-industrialist-
duped-of-rs-148-cr/article7055501.ece
Pune Police arrested three men for allegedly duping 26 software engineers of over Rs 1.05 crore in an online scam that claimed to offer cheap flats.
• http://timesofindia.indiatimes.com/city/pune/3-held-for-duping-26-techies-in-online-housing-scam/articleshow/46801654.cms
Cyber cell of Lucknow police arrested two members of an online job fraud gang to which at least 15 persons have fallen prey.
http://timesofindia.indiatimes.com/city/lucknow/Two-arrested-for-duping-on-fake-job-site/articleshow/46751280.cms
A Brief Background – Online Fraud
The use of Internet services or software with Internet access to defraud victims or to otherwise take advantage of them; for example, by stealing personal information, which can even lead to identity theft.
Indian Government reported a 40% increase in online fraud cases in December 2014.
Don Hankins / Foter / CC BY
https://www.flickr.com/photos/23905174@N00/2524306151/
Always Remember...
Scammers & Fraudsters will often try to rush you into a decision, offering you a limited 'very attractive' opportunity.
If a scam exists in the real world but it’s not yet on the Internet, just wait for two hours; it’ll be there.
Why is Internet A Lucrative Business for Scammers & Fraudsters?
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• Rapid growth & daily influx of new & unaware users
There are around 3 billion Internet Users World Wide. (40% of the World Population)
Studies suggest, 8 new Internet users are added every second worldwide.
These are the ‘potential victims’.
Internet - A Lucrative Business For Scammers
• Hidden Identity
It is easy to maintain anonymity on the Internet.
Fake user accounts, photographs & incorrect location details can be easily furnished in the online world.
1 out of every 10 profiles across the Internet is fake.
Internet - A Lucrative Business For Scammers
• Virtual Actions
Every action that needs to be taken, can be done from the comforts of home behind the computer screen.
Knives and pistols are replaced by keyboards and mouse.
jurvetson / Foter / CC BY
https://www.flickr.com/photos/jurvetson/8523574500/
Internet - A Lucrative Business For Scammers
• Cost’s Involved
Internet connection – Easily affordable
E-mail – Free most of the times
Social profiles – Free
Maintaining Websites – Easily affordable
Internet - A Lucrative Business For Scammers
Some Popular Online Scams
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Popular Online Scams
Fake ads on online classifieds or auction websites
WhatsApp Calling Invitation Scam
LinkedIn Phishing Email Scam
Work From Home Scam
Nigerian Fraud
Online Romance Scams
Scammers list high value goods such as luxury car at very low prices
They demand some form of processing payment in a rather smooth way to the inquiries
Once the initial ‘registration’ money has been paid, the fake sellers and scammers stop responding to all emails and calls
Fake ads on online classifieds or auction websites
WhatsApp Calling Invitation Scam
A message is circulating in the WhatsApp community that goes “Hey, I am inviting you to try Whatsapp calling click here to activate now - http://WhatsappCalling.com"
The link takes the user to a page where you have to invite 10 friends before they can start using the feature
WhatsApp Calling Invitation Scam
Once users are done inviting 10 users, the ‘Continue’ button is enabled. Clicking on it, takes the users to a page where they are asked to complete a survey
WhatsApp Calling Invitation Scam
Clicking on the 'Take Survey' button redirects the users to another page that asks you to download an app
If you proceed further and download the app as asked, you won’t be getting the WhatsApp calling feature. By following all the steps mentioned above, you will have only helped the scammer earn money
WhatsApp Calling Invitation Scam
LinkedIn Phishing Email Scam
LinkedIn users reported about receiving emails that seem to be from LinkedIn support
The recipient is informed about “irregular activities” in their account, because of which a compulsory security update is required
The user is advised to download an HTML file (attached in the email)
LinkedIn Phishing Email Scam
If you click the HTML file, it will redirect you to a fake website that looks like the actual LinkedIn login page
Any login information you give on this page will be transmitted directly to the attacker, who will then hijack your account
Work From Home Scam
Work from home scams are mostly linked to people who are unemployed and look for jobs
Job postings are placed on social networks, emails and other websites
On clicking the job posting, the visitor is directed to a page demanding some amount as a registration fee
What happens next ? - We all Know ! A Scam!
Nigerian Fraud
Nigerian Fraud is an organized crime mainly executed via e-mail.
Nigeria Fraud mails comprise about 7% of the spam mails world wide
Victims have lost 12.7 billion dollars to Nigerian Scams Globally
Indians top in the victims list losing $870 million to Nigerian Fraud Yearly
Gtasahomo2 / Foter / CC BY
https://www.flickr.com/photos/trixieroxxx/5582739056/
Victims are assured to get an unbelievably large sum of money
Nigerian Fraud
And then, they try to gain trust & send feelers to the victim.
Nigerian Fraud
Nigerian Fraud
Victims on reply are asked to pay a sum upfront to facilitate the transfer
Once the sum is paid, scammers are out of contact & out of reach
Scam successful!
Online Romance Scams Dating and romance scams try to lower
your defenses by appealing to your romantic or compassionate side
They play on emotional triggers to get the victim shell out money, gifts or personal details
Scammers target victims by creating fake profiles on Internet dating / social media sites
To gain the victim’s trust, scammers go to great extents such as sharing personal information & giving gifts
Scammers often take months or even years to build what seems to be an authentic online relationship
Online Romance Scams
Once trust is established, scammers ask victims for money for various reasons such as :
• An family member
• Repaying debts/loan
• Setting up a business
Online Romance Scams
Needless to say, scammers vanish once they get what they seek
In addition to financial losses, victims may suffer from depression & other mental issues
Some Actions & Reactions Against Online Scams
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Some Actions & Reactions
Never Give Out
Your name
Your address
Your phone number
Your birthday
Your school name
Any other personal/contact information
Every time you give away such information, you end up compromising your privacy.
Some Actions & Reactions
Never Give Out Your Passwords to Anyone
Passwords are:
• Valuable pieces of information
• Can allow someone to access your email
• Can allow access to your bank accounts, credit cards etc.
No legitimate website or person would ever ask you for passwords.
Some Actions & Reactions
Always check your credit card statements for any discrepancy.
Block or immediately change your banking passwords/pins if you observe any doubtful transaction.
Report the discrepancy to your bank immediately.
Contact the Cyber Crime cell or your local law enforcement authority.
How Can Quick Heal Help
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Thank You!
References
http://www.thehindu.com/news/national/andhra-pradesh/online-fraud-industrialist-duped-of-rs-148-cr/article7055501.ece
http://timesofindia.indiatimes.com/city/pune/3-held-for-duping-26-techies-in-online-housing-scam/articleshow/46801654.cms
http://timesofindia.indiatimes.com/city/lucknow/Two-arrested-for-duping-on-fake-job-site/articleshow/46751280.cms
http://blogs.quickheal.com/wp/scam-alert-fake-sellers-quikr-olx/
http://blogs.quickheal.com/wp/beware-of-the-whatsapp-calling-invitation-scam/
http://blogs.quickheal.com/wp/linkedin-phishing-email-scam-alert/