Imagine finding a pile of cash on the ground, let’s say $1,000. No one’s around and you can’t spot the person who may have dropped it. What do you do? Many of us would pick it up and turn it in, possibly to the police, but there are people out there for whom the dollar signs would take over and that money would end up in their pocket.
Pay back your best friend for lunch? Easy.
Transfer money to your sister for your parent’s anniversary gift? Easy-peasy.
Unsuspectingly transfer money to a scammer. Yes, all too easy.
Peer-to-peer (P2P) apps, such as Zelle, PayPal, Venmo, and Square have increased in popularity and earned a spot as an efficient means of transferring money quickly to other parties. This method of transferring funds is not only a plus for consumers, but fraudsters as well who are always on the prowl for new ways of scamming their victims.
Phishing attacks are always evolving and trying to force us into ignoring our own good sense. A common attack is the infamous technical support scam. Historically, this involved a phone call from someone claiming you need help with your computer, an email message that directed users to fake sites where malware was installed, or a fake tech support popup message requesting payment card numbers. While those are still common, Microsoft researchers have discovered a new play on this scam.