(Photo : Protecting Yourself Against Online Fraud Amid COVID-19 – and How Investigation Agencies Can Help)
The effects of the COVID-19 pandemic have been and continue to be far-reaching and severe. At the time of this writing, there have been over 6 million cases of the virus worldwide, national lockdowns have had adverse impacts on American businesses, and millions of people have filed for unemployment. However, one of the virus' unexpected repercussions isn't getting as much attention as it should be: online fraud scams. As various types of fraudulent schemes continue to emerge, it's more important than ever to prioritize your cyber security and take action if you suspect you have been a victim of online fraud. Investigation companies like Diligence International Group can help you do exactly that.
Given the prevalence of COVID-19, scammers are capitalizing on the pandemic to commit fraud against online users in a variety of ways. Since the outbreak, law enforcement agencies in the United States have discovered fraudulent mask-selling scams totaling roughly $799 million in losses. Similarly, the Securities and Exchange Commission (SEC) has seen a huge uptick in financial misconduct related to the pandemic; specifically, the agency has recorded a 35% annual increase in fraud-related complaints. Lawyers who are helping whistleblowers of these crimes attribute the new surge in fraudulent cases to two main factors: the virus' scale having led to various types of financial misconduct and mass unemployment rates emboldening whistleblowers who would have previously feared penalty from their employers.
The mass unemployment rate has also opened another avenue for scammers: fraudulent unemployment claims. For instance, Nigerian business email compromise (BEC) cybergang, Scattered Canary, has filed over 200 fraudulent claims for unemployment benefits in the U.S. Researchers have found that, of the 200 claims, at least 174 were filed in the state of Washington and at least 17 in Massachusetts. To date, the gang has targeted Florida, North Carolina, Rhode Island, Wyoming, and Hawaii's unemployment sites. Researchers suspect that the potential maximum losses of these fraudulent claims is roughly $4.7 million.
With this mind, there's no question that online users should be adopting strategies to maintain their cyber security. However, due to the complexity of the online sphere and the pervasiveness of these fraudulent schemes, scammers can still sometimes slip through the cracks and take advantage of you. Sound like something you've experienced? This is where investigation companies come in.
Falling victim to cyber fraud is scary and intimidating, but investigation agencies work collaboratively with you to minimize your stress and reclaim control over your cyber security. They conduct in-depth analyses on the facts of your case, offer expert guidance on how to proceed, and provide comprehensive reports that feature concrete conclusions. Fraud is a common concern these companies address, so they are well aware of how elusive fraudsters can be. As a result, most investigative agencies boast global teams with proven technological tools to track these criminals and bring them to justice.
In the age of COVID-19, it's a given that you should look after your physical health as much as possible to mitigate negative repercussions. That said, your cyber security should not take a back seat during this especially vulnerable time. Instead, take the steps to protect not only your physical health, but your virtual wellbeing as well.
