An unprecedented global virus outbreak is just what the cyberfraudster ordered. Confusion, chaos, and abrupt changes in digital user behavior can help the sharp-minded cybercriminal exploit the current crisis to prey on unsuspecting victims.
So, what should we expect in the coming weeks and months? Here are our seven biggest predictions.
1. Stimulus Fraud
American taxpayers who fall under the stimulus income threshold but have not filed their taxes for 2018-2019 won't get a direct deposit unless they file a return. This will trigger a race between taxpayers trying to file returns, and criminals who will beat them to it and provide a bank account that they control for stealing stimulus deposits. Fraudsters will also try to obtain past tax filings from the tax authorities or online accounting services so they can be used as a baseline for fraudulent returns with altered bank account details, Fraudsters will also attempt to impersonate small businesses to apply for stimulus loans using similar methods.