Conflict is a boon for opportunistic fraudsters. Look out for their ploys.
It didn’t take long for tensions in the Middle East to spill over into the cyber domain. There’s been significant disruption of a major US medtech provider, the compromise of OT assets in US critical infrastructure, and ongoing ransomware attacks on businesses by Iran-nexus groups. But what about regular internet users? The truth is that geopolitical tension and conflict offers potentially rich pickings for opportunistic online scammers.
Fraudsters know that these events are a great way to grab the attention of potential victims, and exploit their fear and sympathy in equal measure. The backdrop of geopolitical turmoil, whether it’s Ukraine or Iran, adds weight to the stories they spin in order to achieve their goals.
What scams prosper in times of turmoil?
Whatever tactics they choose, the end goal is usually the same: to harvest your credentials and/or personal and financial data. Or to trick you directly into making payments to non-existent entities. These are not novel techniques. They’re tried and tested and could come via email, text, social media or phone call. What’s different is the lure; specially crafted for timeliness and maximum impact.
Watch out for the following scams:
Fraudulent charges
You receive a call or text from a bank or trusted company informing you of non-existent charges related to “Iran” on your account. According to the FTC, you might then be put on to a government official who convinces you to hand over your bank account details.
Romance fraud
Romantic-themed scams are a big money-maker for fraudsters. According to the FBI, they generated over $929m in illegal profits last year. In this new take, a romantic contact you met online may claim to be a soldier deployed to the Middle East, who now needs cash to deal with an emergency.
Fake charities
Geopolitical turmoil often leads to human misery, which tends to pull at the heart strings. Legitimate charities may solicit donations to help their efforts to support innocent citizens caught in the crossfire. Scammers know this and will create their own fake charities – or impersonate legitimate ones – to collect donations. They may have professional-looking websites designed to add weight to their requests. Be in no doubt though, if you fall for these scams you’ll end up handing them your money, your card details, or both.
Travel scams
Military conflict can often result in sudden flight cancellations, border checks and other travel-related disruption. Scammers can take advantage of this by impersonating airlines and government agencies. They might offer streamlined visa processing or refunds on booked flights and accommodation. But all they’re after is your personal and financial details.
Investment fraud
Investment scams raked in more money than any other type of cybercrime last year: over $8.6 billion, according to the FBI. Sure enough, scammers can take advantage of geopolitics to further their goals here, perhaps by claiming to offer guaranteed returns as a hedge against inflation or market instability.
Sensational (fake) news
Political and social unrest usually generates a great deal of click-worthy content. The problem is that some of it is complete fake. Scammers use sensationalist ‘leaked videos’ and ‘breaking news’ stories to lure you into clicking on malicious links. The most likely end result is getting an infostealer on your phone or computers. This category of malware is designed to harvest passwords, record keystrokes and even steal session cookies to bypass multi-factor authentication (MFA) on your accounts.
Advance fee fraud/419 scams
This is perhaps one of the oldest scams in the book. You receive a message out of the blue from someone you’ve never met. They’ll proceed with a fantastical story about how they will let you share in their riches if you can only pay a small fee upfront for some kind of admin. This template is already being repurposed for the current conflict in the Middle East.
How to spot scams like this
Thanks to generative AI tools, it’s easier than ever for scammers to create highly convincing written content, videos and websites to further their goals. But there are some tell-tale signs that will keep you safe. Look out for:
- Offers of large sums of money that are too good to be true
- Unsolicited contact via email, SMS, messaging app, phone call or social media
- Requests for personal and financial information
- Attempts to force you into making a decision in the scammer’s favor, either by ramping up urgency or appealing to your emotional side
Responding to conflict-fueled scams
With the above in mind, it should be easier to spot the warning signs that something doesn’t quite look or sound right. A good rule of thumb is never to click on links or open attachments in unsolicited messages, even if they look convincing and appear as if sent from a trusted source. If you really want to know if it’s a genuine message or not, check independently with the sender; i.e., don’t reply directly or use contact details in the message itself. Or if it’s a news story, go direct to your favored news outlet.
Be cautious of social media accounts, especially those that appear to be customer service accounts for airlines and the like. These are easier than you’d think to set up and platform providers are always a step behind in taking them down. And it goes without saying that you should never hand over sensitive information over the phone.
The next bit of advice may be the most difficult. But try to suppress your instinct to react to emotional pleas from ‘charities’ or urgent requests for you to act. The reason fraudsters use these techniques is because they work. They’re designed to turn our humanity against us.
As an extra layer of defense, ensure all your computers and devices are protected with anti-malware, including anti-phishing capabilities from a trusted vendor. That should help to filter out the majority of the scams. The rest is down to you.
According to a new report from the The Global Initiative Against Transnational Organized Crime, “fraud is a crime that is not only economically driven, but politically shaped.” This is unlikely to change anytime soon. But it doesn’t have to be you that ends up a victim.
