5 Latest Scams You Should Look Out For

In our recent all hands meeting at BEI, we have discussed and dived into a pressing issue that needed our attention: the alarming rise of scams. Especially in the social media era where everything is quite easy to decipher and can give easy access to cybercriminals.

Today’s scammers are leveraging new techniques and artificial intelligence. These are modern scams designed to manipulate our trust and emotions.

Our blog is to educate people of these new scams urging all of us to remain cautious and informed.

Let’s get to know these 5 examples of the recent modern scams:

1. Fake Invoice Scam

This scheme involves scammers sending seemingly legitimate invoices for goods and services that were actually recently purchased.

Example:

A small business owner might receive an invoice for office supplies they never ordered, complete with a familiar company logo and convincing payment instructions. The unsuspecting victim, overwhelmed with daily operations, might pay the invoice without a second thought, only to realize later that they’ve fallen prey to a scam.

Solution:

  1. Do not click any links attached to the invoice.
  2. Confirm from the seller/provider.
  3. Check your receipts.

2. Deep Fake Videos Scam

This is a modern scam that involves the use of AI to manipulate or generate visual and audio content, making it nearly impossible for the average person to distinguish between what’s real and what’s fake.

Example:

Imagine receiving a video call from a long distance loved one. They are in distress, begging for urgent financial help. You panic and you send money immediately to an unknown source.

Solution:

3. Email account upgrade scam

This scam involves impersonating your email service provider claiming that your account needs major upgrade.

Example:

Solution:

  1. Always check for inconsistencies such as spelling and grammar.
  2. Check the legitimacy of the email domain from where it came from.
  3. Do not click buttons or links.
  4. Report email to IT administrator.

 

4. Unusual Activity Scam

It is a scam where a victim receives an email that claims there has been an unusual activity on your account. It is the same as the Email Account Upgrade Scam.

This scam will cause you to panic and click the links that was attached in the email.

Solution:

  1. Check the legitimacy of the email domain from where it came from.
  2. DO NOT CLICK ANY LINKS!
  3. Verify and report from your IT administrator.

 

5. Vishing (Voice Phishing)

The term ‘Vishing’ is a combination of the words ‘voice’ and ‘phishing’. It is a type of scam cybercriminals are  using to use phone calls to trick people into giving personal information.

Example:

An attacker will pretend to be a trusted person such as a bank representative, technical support, or law enforcement officer. Their goal is to create a sense of urgency or fear that will force the victim to reveal confidential details.

Another example, cybercriminals are using AI to record someone’s voice and will use it to victimize people with these unsolicited phone calls.

Solution:

  1. Always be cautious and don’t jump to conclusion.
  2. Verify caller identity.
  3. Do not share personal information.
  4. Report suspicious calls.
  5. Educate yourself and others.