BBB® Phishing Investigation: BBB sees record number of reports as fraudsters use new technology | National News

In 2023, phishing scam reports will be sent to ^SM has almost doubled, reaching a record high of over 9,000. Fraudsters appear to be taking advantage of new technologies and using SMS-based scams to lure new targets.

Since 2021, reports to the Better Business Bureau show that scammers are using phishing tactics in nearly every type of scam, including government scams, tech support scams, and cryptocurrency scams. More recent reports indicate that they are increasingly resorting to SMS-based versions of these scams, sending messages designed to trick the public into clicking on links that ask them to share personal information or download malicious software.

In “BBB® study: BBB records record number of Reports as fraudsters adopt new technologies ” BBB examines reporting patterns, determines the amount of money lost, and publishes stories of people who have fallen victim to the scams so the public can avoid them.

Key findings:

• In 2023, the total number of Scam Tracker reports exceeded 9,000, almost double the previous year and a record high.
• According to reports, 2024 is likely to be another record year.
• Although phishing is one of the oldest and most well-known fraud methods, it continues to be successful due to its adaptability to different forms of communication.
• Phishing scams target both individuals and businesses, with corporate losses totaling billions over the past three years, according to the FBI and BBB Scam Tracker reports.
• Because phishing techniques change so frequently, it can be difficult for the public and authorities to keep up with the ever-changing defenses required.

Statistics (reported to BBB from 2021-2023):

• Phishing (email) – 8,346
• Vishing (call and voicemail) – 7,416
• Smishing (SMS) – 3,486
• Pharming (malicious links) – 315
• Business Email Compromise – 200

Story of a fraud survivor:

An Omaha woman parked in a metered parking lot and spotted a QR code nearby for payment. After entering her credit card information, she noticed that the processing time was unusually long. Sensing something was wrong, she took photos of the QR code and the information displayed on her screen. The site turned out to be a scam designed to deceive people in a hurry. Although she got her money back, she had to have her card blocked to avoid further charges from the scammers.

Warning signs of phishing scams:

• Allegations of suspicious activity or fraudulent registrations
• Reports unexpected problems with an account
• Attempts to confirm financial information
• Request to click on a link to make a payment
• Offers government refunds
• Sends unsolicited vouchers
• Uses a general message paired with the logo of a well-known company
• Speaks in a language full of typos and urgency
• Poses as a known authority figure and requests a business payment