With a global focus on health, safety, security and even peace of mind during the COVID-19 pandemic, phishing emails, scams, financial crime and fraud are the last thing anyone wants to think about.
Featurespace, an Atlanta and U.K.-based fraud protection and risk management startup, warns that amidst these frightening and confusing times, fraudsters are taking advantage of customers and their fears about the coronavirus.
The platform has seen a rise in scams, according to Fraud Market Expert PJ Rohall, such as fake COVID-19 tracking apps and heatmaps that hide malware and ransomware that attack their smart devices; scams offering products such as face masks or handsanitizer that are never delivered; and phishing scams used to steal credentials, such as emails claiming to be from universities with information about canceled classes.
The United States Department of Justice has warned the public about the potential for coronavirus-related fraud threats. U.S. Attorney General William Barr recently stated in a memo to U.S. attorneys that, "The pandemic is dangerous enough without wrongdoers seeking to profit from public panic and this sort of conduct cannot be tolerated." A Georgia woman was arrested on Wednesday and charged for selling illegal, unregistered pesticide products she claimed would help protect people from the virus.
"Globally, what you're seeing is fraudsters kind of using scams to prey on a lot of the different vulnerabilities," he said. "You're seeing people who are pretty scared and frightened, who want more information on the disease."
One scam in particular is even going so far as to impersonate the World Health Organization over email, Rohall said. The email supposedly directs users to a link on methods to prevent the spread of the virus. Users are instead redirected to a malicious domain that attempts to steal their credentials.
"It's preying on people's fear, people's need for financial assistance," he said. "Also, people who want to help out."
The scams range from social engineering, phishing, texting and even phone calls, Rohall said.
"It has a lot to do with the vulnerability for the person," he said.
Featurespace utilizes AI machine-learning software to analyze risk score transactions and other security elements in more than 180 countries. The platform uses adaptive behavioral analytics and anomaly detection to identify risk and alert to attacks as they occur.
"You can really understand genuine user behavior (with Featurespace) and when that user is under duress," he said.
Rohall suggests to be on high alert for messages from organizations, including the government promising a check.
"First and foremost, just be careful of any incoming emails, texts, and phone calls where somebody is posing as a respectable organization that they haven't verified."
Other tell-tale signs of a scam are messages that ask for information that could lead to identity fraud, stolen funds and other breaches of security, Rohall said.
"Anytime someone is asking you to provide personal information, a payment of any sort, just look a lot more into that," he said.
Some of these fraudsters though, are able to spoof organizations and credible sources well, Rohall said. The key is to slow down and look at the details, he said.
"There's no rush to act on any of these things right away," he said. "You can generally think a little clearer and sniff some of this out."
Another issue Rohall said is common among victims of fraud is embarrassment that they fell for a scam. But Rohall said these attacks are getting extremely sophisticated, so much so that even security analysts have fallen for these scams.
"There was an interesting article about a fraud protection expert who was defrauded," he said. "It can happen to anyone. Don't be embarrassed and don't think it can't happen to you."
Education and awareness are the key preventative tactics to thwart fraudsters, Rohall said. Featurespace's technology can help, he said, but it's also about realizing these scams can happen to anyone, he said.
"When you receive something that you don't normally receive and it's promising you something or directing you somewhere, a flag goes up and you think twice about doing it."
Even though Featurespace has seen a spike in coronavirus related attacks, Rohall said these threats are unlikely to go away when the pandemic plateaus.
"This is probably not just a coronavirus thing," he said. "This is any time people experience hardship or heightened vulnerability. There's plenty of education. With vigilance and technology, we can fight back."
