As reported by the Daily Record, Windows and Android users have been urged to be aware of criminals infiltrating popular websites and apps as part of a large-scale cyber campaign.
Hackers are using deliberately misspelt domains for some of the world’s most popular websites, and reports of cyber-crime have skyrocketed as hackers constantly conjure up new ways to target innocent victims. Some disguise these vicious bugs as other apps, which can steal personal login details of online profiles, while others have the ability to drain bank accounts. This type of hacking is known as “typosquatting”, according to Marijus Briedis, Chief Technology Officer at NordVPN. “While many forms of hacking like phishing rely on tempting users into mistakes, this method anticipates consumer errors as a starting point.”
Authorised push payment fraud is the pinnacle of manipulating an unbeknown victim into handing over money. This sophisticated art of influence over someone is extremely worrying and even with measures in place at the banks to spot the signs, it still occurs as people can be so well duped by the stories and bypass the securities. Far too often people are convinced they are helping a friend in need due to the amount of time invested by the scammers. This is rarely a quick scam as the cybercriminals need to spend months coercing their victims into being on side. Even with fraud prevention systems in place which confirm the name of the account, this can be bypassed when the criminal prior explains a slight change may happen at that stage and gives a possible reasons for this.
After increased awareness, time delays in payments are often the only answer but this slowing down of transfers can also have a negative effect on legitimate payments. Holding money in escrow can protect victims’ and the banks’ money but this time delay needs to be considered closely and unfortunately most potentially fraudulent situations need to be considered individually.