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Scam Radar — May 2023

Below are three new scams to keep on your radar, as well as some tips for how to avoid them. Be on the look out for yourself, your family, and your clients! THINK BEFORE YOU CLICK!

Artificial Intelligence (AI) Phishbait

Artificial Intelligence (AI) has been surging in popularity over the last year. Many have begun to utilize AI chatbots like ChatGPT or Google Bard. Unfortunately, cybercriminals have also been utilizing the AI, attempting to steal your information.

In a recent scam, cybercriminals created fake Facebook ads for free downloads of AI products. If you click one of these ads, you’ll be prompted to download a fake file. Once you download the file, malware will be activated on your device. Cybercriminals can then use this malware to steal your sensitive information, such as your credit card numbers and passwords.

Tips to Avoid Similar Scams:

  • Cybercriminals can buy ads anywhere, so it’s extremely important to think before you click!

  • Only download files from trusted sources, such as the official Google or AI website. Watch out for ads that prompt you to click links instead of visiting official websites!

  • Before clicking an ad, hover your mouse over it to preview the related link. Make sure that the link leads to a legitimate, safe website that corresponds with the content in the ad!

Suspicious Linktree Links

If you are unfamiliar with it, Linktree is a landing page service that businesses and individuals can use to list multiple links on one page. This service is often used on social media for quick and easy access to multiple webpages. However, cybercriminals can also use Linktree to host malicious links to try to steal your personal information.

In a recent scam, you would receive a notification of a file being shared with you know, but is actually from a cybercriminal in disguise. This notification prompts you to open the file through a link. If you were to click the link, you would be redirected to a legitimate Linktree page that contains a fake Microsoft 365 link. This link would take you to a login page that prompted you to enter your Microsoft credentials. Once you enter your information, cybercriminals then have the ability to use it for their malicious purposes.

Tips to Avoid Similar Scams:

  • Never click a link or download an attachment in an email that you weren’t expecting!

  • Be cautious before you ever enter your credentials online. Verify that the login page is safe and legitimate!

  • Make sure the sender is actually who they claim to be. If the sender claims to be someone you know, reach out to them in person or by phone to verify!

FedNow Scams

FedNow is a new instant payment service created by the Federal Reserve. This service allows banks from all over the US to provide instant funds to any of their customers. Any consumer could use FedNow to instantly send and receive payments.

In the coming months, it is expected to see an influx of cybercriminals trying to take advantage of FedNow’s popularity in their phishing scams. For example, cybercriminals may send you an email claiming that you were sent a payment through FedNow. The email may state that you need to click a link and enter your bank account information in order to claim the payment. Unfortunately, if you enter your banking information, you won’t receive a payment in your bank account. Instead, cybercriminals will steal your money for their own malicious purposes.

Tips to Avoid Similar Scams:

  • Remember that this type of attack isn’t exclusive to FedNow. Cybercriminals could use this technique to impersonate any instant payment service, such as PayPal, Venmo, and others.

  • Think before you click! Cyberattacks are designed to catch you off guard and trigger you to click impulsively.

  • Be cautious of unexpected payout opportunities. Remember, if something seems too good to be true, it probably is!

For more information regarding scams, please visit the Federal Trade Commission (FTC) Consumer Advice website.

You can also find details about the signs of a scam, how to avoid a scam, and how to report a scam in this article by the FTC — How to Avoid a Scam.

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