U.K. Citizens See 82% Increase in Advanced Fee Scams in the Last Year
In the wake of the rising cost of living, new scams targeting those in less-than-optimal financial situations based on “deprived” areas throughout the country.
Scammers take advantage of any misfortune they can, as it creates the sense of urgency needed to throw caution to the wind and get unsuspecting victims to play their role. New data from Lloyd’s of London shows that scammers have increased their efforts behind advanced fee scams where victims pay an upfront fee for goods and services that never materialize.
According to the Lloyd’s data, ads for loans, jobs and rental properties are the most common theming of these kinds of scams, taking advantage of those seeking employment, financial relief, or less expensive rent.
It even appears that victims are being targeted based on location, with the West Midlands being a particular hotspot. These attacks are seeing successes, as 70% of all cases of these advanced fee scams are occurring in lower income areas of the country.
What makes this dangerous to a business is that you don’t know an employee’s financial situation – which can be a source of risk. While the scams tracked by Lloyd’s of London are intent on simply stealing funds, we’ve seen job scams that result in malware infections within the business, making it necessary to keep employees conscientious when it comes to interactions with online ads and emails, as they can be malicious in nature – something taught via Security Awareness Training.
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