Today’s Tricksters Aren’t Using Whoopie Cushions They’re Stealing Millions!

FBI announces arrests of 74 involved in a massive phishing scam

Gone are the days when getting tricked merely involved a whoopie cushion or maybe an exploding cigarette. Today the tricks are severe and can include thousands of dollars! Last week, the FBI announced that after a six-month investigation, they had made 74 arrests across seven different countries (including the US) and broke up a significant phishing ring! This Nigerian originating ring targeted mid-sized businesses and tricked these unsuspecting victims into believing they were sending money to business partners! The same type of email phishing scams that stole money from Google and Facebook!


 

Out of the 74 arrested, 42 of these arrests happened in our home court, The United States of American! Luckily with the vigilant investigations, over $16 million was seized or recovered from the scammers! However, that is not always the case! Many have lost their entire life savings in a blink of an eye to these new-age-tricksters! Those who are generally targeted have access to company finances and are typically being contacted by an impersonated partner or colleague. They usually request large sums of money and sensitive information like tax records.

 

For cybercriminals, email phishing scams are proving to be hugely profitable! It is estimated that more than $3.7 billion has been lost due to phishing scams just like those involved in this recent ring. You may wonder, how people be so foolish but, these scams are incredibly tricky! In fact, it is not only small businesses falling for such scams; big boys like Google and Facebook have also have fallen victim to the same type of scams, losing millions.

 

So, how do you stay safe? First, check out our previous blog on phishing. Next, follow Pendello President, Mike Jackson’s rule of thumb, “If it looks suspicious, or even just something you’ve never seen before, treat it as phishing. Always play it safe and as always, reach out to us if anything ever looks suspicious.”

 

If you have any questions on this ring of phishing or phishing in general, reach out to the experts at Pendello Solutions. They are always vigilantly watching live attacks, accessing where attacks are originating and doing all they can to keep their clients safe! Our business technology experts are on the frontline of cybercrime and are eager to get a call from you to discuss your office safety!

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