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Cyber Criminals innovating new scam ideas to rob general public. In East and Southeast Asia victims lost between $18 billion and $37 billion in 2023 from cyber-enabled fraud. RBI the Indian central bank ran this jacket cover advertisement today at the leading newspaper in India. Back home in Nepal this trend is on the rise and criminals gaining more and more confidence to scam general public. Some measures that may help: 1.0 Awareness and Education *Launch awareness campaigns to educate the public on phishing, vishing, and other scams. *Share real-life examples of frauds to illustrate how scammers operate. *Promote cyber hygiene: avoid clicking unknown links, sharing sensitive details, or responding to unsolicited requests. *Encourage users to verify suspicious calls or messages by contacting the bank or service provider directly. 2.0 Regulation and Policies *Enforce Know Your Customer (KYC) and transaction monitoring to identify and block fraudulent accounts. *Mandate banks and financial institutions to implement multi-factor authentication (MFA) for all transactions. *Introduce regulations that penalize negligence in reporting or responding to fraud cases. 3.0 Technology and Systems *Deploy fraud detection systems using AI/ML to identify suspicious activities in real time. *Strengthen two-factor or biometric authentication for high-value transactions. *Create a centralized fraud monitoring system shared across banks and financial service providers. 4.0 Community and Ecosystem Collaboration *Establish a fraud reporting hotline and an online portal for the public to report scams. *Encourage telecom operators to detect and block SIM swap frauds. *Collaborate with social media platforms to monitor and block scam promotions. 5.0 Proactive Actions for Customers *Urge customers to avoid sharing sensitive information like OTPs, PINs, and account details over calls, emails, or messages. *Recommend setting transaction limits for wallets and accounts to minimize potential losses. *Guide users to regularly review account statements and report discrepancies immediately. 6.0 Quick Redressal Mechanisms *Implement a 24/7 fraud helpline for instant freezing of accounts in case of suspected fraud. *Set up a compensation mechanism to reassure victims of a fair resolution process. *Train bank employees to handle fraud complaints effectively and empathetically. 7.0 Continuous Monitoring and Adaptation *Conduct periodic audits of cybersecurity measures across financial institutions. *Stay updated on emerging fraud trends and adapt strategies accordingly. *Regularly engage with cybersecurity experts to upgrade defense mechanisms. Note: Nepal has in practice many of these both from regulatory and industry mandates. Its always good to stay alert and improve. At www.Kathmandufintek.com.np we have provided training around these areas to several banks in the country. Kathmandu FinteK

⚠ Think you’ve been scammed? ⚠ Here are the steps for Queenslanders to take to report a scam effectively: 1️⃣ Collect Evidence: Save any emails, messages, screenshots, or transaction records related to the scam. 2️⃣ Provide Detailed Information: The more details you provide in your report, the easier it will be for authorities to take action. 3️⃣ Report to Scamwatch (ACCC) Go to the Scamwatch website and fill out the online form with details about the scam. This is the central place for reporting scams in Australia. 4️⃣ Report to the Queensland Police Service (QPS) - The police can investigate serious scams, particularly those involving fraud or identity theft or if the scam involves significant financial loss or criminal activity 5️⃣ Report to the Australian Cyber Security Centre (ACSC) using their online portal. The ACSC deals with cyber threats and can offer advice on securing your information and preventing further harm. 6️⃣ Report to Your Bank or Financial Institution - Contact your bank IMMEDIATELY if you've given financial information to a scammer. Most banks have fraud departments that can help secure your account and prevent further loss. Fast action can prevent scammers from accessing your funds or personal information. 7️⃣ “Clean” Your Device – This is where I can help you 🙂 👍 Your bank will often ask you to “get your phone cleaned” to prevent your accounts being frozen. This means cleaning your phone’s internal storage by clearing your cache, removing potential unsafe files, clearing out and uninstalling risky apps and other checks to examine where your device may have been compromised. Here’s how I can help you: ✅ DROP YOUR DEVICE OFF TODAY FOR A “CLEAN” at DevicePro - Phone & Tablet Specialist Location: 1/3 CARLO DRIVE, CANNONVALE Would you prefer to speak to someone face-to-face? ✅ BOOK A CONSULTATION with me at DevicePro - Phone & Tablet Specialist for one-on-one support Things I can help you with include: ◾ Not sure if a text message is genuine or a scam – I can help ◾ Security and Privacy settings on your devices and social media accounts ◾ Log in & Password Issues ➡ Call: 07 4882 3113 If you found this helpful please pass on 😊 Cheers! Mikey #scams #scamwatch #scammed #scamaustralia #australia #queensland #reportscam #scamhelp #techhelp #cybersecurity #cybersecurityaustralia #queenslandpolice #techsupport #phoneclean #cleanmyphone #phonefix #tablethelp #deviceadvice #devicepro #phonerepair #phoneshop #phonerepairservice #tabletrepair #whitsundayphonerepair #airliebeach #cannonvale #proserpine #bowen #collinsville #whitsundays #localbusiness #whattodo #stopscams #stopscammers #whitsundaybusiness #whitsundaylocal #hacked #hackers #scamadvice #scamsupport

⚠ Think you’ve been scammed? ⚠ Here are the steps for Queenslanders to take to report a scam effectively: 1️⃣ Collect Evidence: Save any emails, messages, screenshots, or transaction records related to the scam. 2️⃣ Provide Detailed Information: The more details you provide in your report, the easier it will be for authorities to take action. 3️⃣ Report to Scamwatch (ACCC) Go to the Scamwatch website and fill out the online form with details about the scam. This is the central place for reporting scams in Australia. 4️⃣ Report to the Queensland Police Service (QPS) - The police can investigate serious scams, particularly those involving fraud or identity theft or if the scam involves significant financial loss or criminal activity 5️⃣ Report to the Australian Cyber Security Centre (ACSC) using their online portal. The ACSC deals with cyber threats and can offer advice on securing your information and preventing further harm. 6️⃣ Report to Your Bank or Financial Institution - Contact your bank IMMEDIATELY if you've given financial information to a scammer. Most banks have fraud departments that can help secure your account and prevent further loss. Fast action can prevent scammers from accessing your funds or personal information. 7️⃣ “Clean” Your Device – This is where I can help you 🙂 👍 Your bank will often ask you to “get your phone cleaned” to prevent your accounts being frozen. This means cleaning your phone’s internal storage by clearing your cache, removing potential unsafe files, clearing out and uninstalling risky apps and other checks to examine where your device may have been compromised. Here’s how I can help you: ✅ DROP YOUR DEVICE OFF TODAY FOR A “CLEAN” at DevicePro - Phone & Tablet Specialist Location: 1/3 CARLO DRIVE, CANNONVALE Would you prefer to speak to someone face-to-face? ✅ BOOK A CONSULTATION with me at DevicePro - Phone & Tablet Specialist for one-on-one support Things I can help you with include: ◾ Not sure if a text message is genuine or a scam – I can help ◾ Security and Privacy settings on your devices and social media accounts ◾ Log in & Password Issues ➡ Call: 07 4882 3113 If you found this helpful please pass on 😊 Cheers! Mikey #scams #scamwatch #scammed #scamaustralia #australia #queensland #reportscam #scamhelp #techhelp #cybersecurity #cybersecurityaustralia #queenslandpolice #techsupport #phoneclean #cleanmyphone #phonefix #tablethelp #deviceadvice #devicepro #phonerepair #phoneshop #phonerepairservice #tabletrepair #whitsundayphonerepair #airliebeach #cannonvale #proserpine #bowen #collinsville #whitsundays #localbusiness #whattodo #stopscams #stopscammers #whitsundaybusiness #whitsundaylocal #hacked #hackers #scamadvice #scamsupport

A recent survey has highlighted the alarming rise of a prevalent scam in 2024: fake parcel delivery alerts sent via text message. According to research conducted by NatWest, a leading UK bank, these deceptive notifications have become the fastest-growing type of scam. The study, based on industry data and a survey involving 2,000 British adults, sheds light on the concerning trend. The fraudulent messages, disguised as SMS texts from courier services, notify recipients of failed deliveries necessitating rescheduling. They contain a link that encourages recipients to take immediate action. Upon clicking the link, users are directed to a phishing website designed to mimic authenticity. Here, unsuspecting individuals are coerced into divulging personal information and often coerced into making payments for alleged redelivery services. This sensitive data, encompassing login credentials and financial details, is then exploited by cybercriminals for illicit transactions. Major courier firms like FedEx, DHL, and UPS are commonly impersonated in these scams. Given that legitimate redelivery alerts are frequently communicated via SMS, recipients can easily misconstrue these fraudulent messages as genuine ones. The absence of logos and the succinct nature of SMS texts make it challenging for individuals to discern the authenticity of these deceptive alerts. This scam capitalizes on urgency, a hallmark of phishing tactics, prompting swift responses from individuals upon receiving a missed delivery notification. Often, individuals, especially when preoccupied or away from home, react promptly without verifying the legitimacy of the message. Particularly insidious during the holiday season, when expectations for gift deliveries are high, this scam exploits the emotional anticipation individuals have for their packages' safe arrival. The heightened emotional investment increases the susceptibility of victims to the scam's ploy, making them more susceptible to falling prey to the deception.

A recent survey has highlighted the alarming rise of a prevalent scam in 2024: fake parcel delivery alerts sent via text message. According to research conducted by NatWest, a leading UK bank, these deceptive notifications have become the fastest-growing type of scam. The study, based on industry data and a survey involving 2,000 British adults, sheds light on the concerning trend. The fraudulent messages, disguised as SMS texts from courier services, notify recipients of failed deliveries necessitating rescheduling. They contain a link that encourages recipients to take immediate action. Upon clicking the link, users are directed to a phishing website designed to mimic authenticity. Here, unsuspecting individuals are coerced into divulging personal information and often coerced into making payments for alleged redelivery services. This sensitive data, encompassing login credentials and financial details, is then exploited by cybercriminals for illicit transactions. Major courier firms like FedEx, DHL, and UPS are commonly impersonated in these scams. Given that legitimate redelivery alerts are frequently communicated via SMS, recipients can easily misconstrue these fraudulent messages as genuine ones. The absence of logos and the succinct nature of SMS texts make it challenging for individuals to discern the authenticity of these deceptive alerts. This scam capitalizes on urgency, a hallmark of phishing tactics, prompting swift responses from individuals upon receiving a missed delivery notification. Often, individuals, especially when preoccupied or away from home, react promptly without verifying the legitimacy of the message. Particularly insidious during the holiday season, when expectations for gift deliveries are high, this scam exploits the emotional anticipation individuals have for their packages' safe arrival. The heightened emotional investment increases the susceptibility of victims to the scam's ploy, making them more susceptible to falling prey to the deception.

#Banks… can you stop letting phishing scams win? Surely you can be better than this! Australian Broadcasting Corporation (ABC) -https://lnkd.in/gjrT9pMX A Queensland couple recently lost over $250,000 to a #phishing scam that could have been prevented . Scammers intercepted emails, replaced bank details, and walked off with their life savings. The banks processed the payment without any verification that the account name matched the account number. This isn’t a new scam—it’s the same old “switcheroo” that’s been around for years. Banks continue to let Australians down, placing the burden of responsibility on customers to detect fraud while they fail to implement basic safeguards. Imagine if hospitals made patients responsible for verifying the cleanliness of surgical tools before an operation—it’s unthinkable. Why should banks be any different when it comes to protecting our money? Low cost solutions - For large transfers, banks could easily introduce simple, effective measures: - Account Name Verification: Flag mismatches between account names and numbers to prompt double-checking. Copying bank details from emails is archaic—we deserve better. - Verbal Asymmetric Key System: Secure phone calls between senders and receivers with passphrase confirmations for large transactions. - Verified Payee System for Big Transfers: Require recipients to send bank-verified requests directly to senders through an approved banking channel, ensuring details are authenticated before being an approved recipient on the senders list. These are just some suggestions, but they are simple, effective, and long overdue. They could have prevented this tragedy and countless other families from falling victim. I’m more than happy to put my time on the table to make these changes happen. I’m prepared to offer up my expertise to help banks implement these solutions at no cost if that’s what its going to take! To anyone in the banking sector, or with some legislative power: If your serious about making some changes, contact me, this is a crazy situation that this is still happening! Anyone with authority to make a difference? #MPs like Amanda Rishworth, Penny Wong, Rebekha Sharkie, or Tony Burke—and the big four banks: Commonwealth Bank, Westpac, NAB, ANZ. Surely, this is preventable. Why are we accepting that it’s okay for Australians to lose their life savings? #ConsumerProtection #BankingReform #CyberSecurity #FraudPrevention

EVER EVOLVING CYBER/ONLINE FRAUD & US   Introduction: We people have became used to the term Cyber/Online Fraud now-a-days. Every now & then someone from our acquaintance is heard to be falling victim of online fraud be it an Unauthorized Transaction, Phishing Attack or more robust Psychological Tactics where AI is used to defraud us.                Surprisingly, we somehow believe that only we are immune to such actions until it happens to us or to our dear ones. And one such attempt has recently been experienced by myself. Although the attempt got failed but for couple of seconds, the fraudster had me. Consequently, it got me wondering about the pace at which those frauds are occurring and the possible solutions to them.   Statistics:                As per the report prepared by IPSOS on behalf of Wells Fargo in 2023 on Cybersecurity, globally the cost of Cybercrime has reached $8 Trillion in 2023 and is expected to reach a massive $9.5 Trillion in 2024 and would exceed $10.5 Trillion in 2025.                In India, between January to April 2024, over 740,000 cases were registered at National Cyber Crime Reporting Portal which is 113.7% more comparing to the cases registered between 2021 & 2023.                 Possible Solutions:                While analyzing the types of attacks employed by the fraudsters, it can possibly be concluded that in most of the cases they exploit human emotions like Fear (of disgrace), Greed (for money), Compassion (in case of charity), Aspirations (to reach Abroad), Need (Job Scams), etc to defraud.                  However, while careful analysis of the scams based on personal experience and that of Acquaintances’, one can conclude that the following general solutions may work in most of the cases to contain the quantum of losses as under: a)      Presence of Mind : Being defrauded thrice, I can assure you that almost all the instances were avoidable with a little presence of Mind. i.e Unauthorized Transactions can be avoided using card controls, avoid sharing PIN-OTP-CVV, Frequently changing the passwords, Genuine Job Portals don’t ask for payments, etc. b)     Awareness : Having knowledge about the financial Frauds and corresponding remedies. for e.g accepting money via UPI don’t require PIN, Unauthorized Transactions via Credit-Debit card where OTP-CVV not shared get reimbursed by the Bank Itself, etc. c)      Shared Knowledge-Base : No one can have all the solutions at the time of calamity. However, by sharing own experiences & information with fellow nationals, one can contribute towards common knowledge-base to keep up with the Ever-Evolving fraudsters and contain the damage. d)     Reporting : Finally, at least one should report the instance to National Cyber Crime Reporting Portal so that the Government can have an idea of the instances and the type of fraud to construct a robust counter strategy in this regard. The key is to share your instances to create an awareness. #Cybersecurity #Cyberawareness

🚨 “Think you’re safe online? Think again—cybercriminals are counting on you letting your guard down.” Every time I hear about someone falling victim to cybercrime, I can’t help but think: This could’ve been prevented. I had the privilege of speaking to Regions Bank customers in Nashville and Houston at a series of fraud awareness seminars. These events are the reason I do what I do—educating people about the ever-changing threats we face and, more importantly, how to protect themselves. Here’s the thing: Cybercrime isn’t slowing down, and cybercriminals aren’t just targeting businesses. They’re coming after people—you, your family, and your loved ones. But the good news? You don’t have to be their next victim. 💡 Some Key Takeaways from the Seminar: 🛑 Stop, Call, Confirm: Got a suspicious email, text, or pop-up? Slow down, call a trusted number (like what’s on the back of your card), and confirm it’s legit. Don’t react emotionally—that’s what the bad guys want. 🔒 Freeze Your Credit: Your personal information is out there—probably for sale on the dark web. Freezing your credit is one of the easiest ways to protect yourself. 📧 Spot Phishing Scams: If something feels off about a message, trust your gut. Don’t click on links. Criminals are counting on you to make a quick, emotional decision. 💻 Business Email Compromise: One of the biggest threats today. Scammers impersonate executives, vendors, or employees to trick you into transferring money or sharing sensitive info. Always verify requests through a second method. 👵 Protect Seniors and Loved Ones: Scammers are targeting our parents and grandparents with elder fraud and romance scams. Keep them informed—education is the best defense. Here’s the harsh truth: Cybercriminals don’t care about how hard you’ve worked or what you’ve built. But you can fight back. For years, I’ve shared my 4 Truths of Cybersecurity everywhere I go: 1️⃣ Nobody thinks it’ll happen to them—until it does. 2️⃣ Once your money is gone, getting it back is nearly impossible. 3️⃣ Most cybercriminals are overseas, which makes prosecution unlikely. 4️⃣ Many instances of cybercrime I’ve seen could have been prevented with the right knowledge and controls. This is why I’m so passionate about the CyberSecure Mindset and Stealth Family. It’s not about spending a fortune on fancy software—it’s about learning how to think and act in ways that make you less of a target. 👉 So don’t wait. Protect what matters most—your family, your business, and your peace of mind. 🔗 Visit www.stealthfamily.com for tools and resources to start building your defenses today. Cybersecurity isn’t just for the experts—it starts with you. Let’s win this fight together. #CyberSecurity #FraudPrevention #StaySafeOnline #StopCallConfirm #IdentityTheft #DarkWebAwareness Jeff Taylor Kevin Donahue Marc E. https://lnkd.in/er7jyYjh

In Today’s Edition of Cyber Crime: A Personal Note on Fraud Awareness We all love the freedom and convenience the internet gives us, right? But let’s be real for a second being online comes with risks, and most people only wake up to those dangers when it’s too late. I don’t want that to be you. So, what can we do to beef up our online security and protect ourselves from fraud? First off, protecting your bank accounts isn’t just the bank’s job it’s a partnership. You have a role to play too. The internet can be a playground for fraudsters, but staying informed can keep you a step ahead. Here's what you need to know: Common Types of Bank Fraud in Europe (and What to Watch Out For ) - Phishing Attacks: Have you ever gotten a weird email that seemed legit but just didn’t feel right? That’s phishing, where fraudsters try to steal your login details by pretending to be a trusted company. - Identity Theft: Imagine someone using your personal details to take out loans or commit fraud in your name. Scary, right? That's what happens when your information falls into the wrong hands. - Payment Fraud: From card skimming to fake online shopping sites, criminals are always trying to hijack your payment info. - Investment Scams: Have you ever seen a too-good-to-be-true investment opportunity? If it promises high returns with little to no risk, run it's likely a scam. So, How Do You Keep Your Money Safe? - Check your bank transactions regularly: Yes, I know we’re all busy, but if you have time to scroll social media, you’ve got time to scan through your bank statements. Trust me, it’s worth it. - Be cautious about online relationships: I get it—feeling connected is important. But sending money to someone you’ve never met in person? Big red flag. You never really know who’s behind that screen, so think twice before clicking “send.” - Avoid clicking on strange links or websites: Ever seen a sketchy link and thought, “What’s the worst that could happen?” Well, it could be a lot. Only make purchases on websites that start with “https” (the "s" stands for secure!). - Treat the internet like a stranger at night: You wouldn’t walk down a dark alley alone, right? Approach the internet the same way. Be cautious and trust your gut. - Always be open to learning: Things change fast in the digital world, and scammers get more sophisticated every day. Stay informed, learn the latest scams, and share what you know with others. You’re part of the solution too.Remember, your data is yours to protect, and your money? That’s your hard-earned security. Don’t make it easy for anyone to take that away from you. #fraudawarness #cybersecurity #techtips

Cyber Fraud! A few days back, I received a call from a known person in the early morning hours. I was surprised to get a call from this person as he never called me in the past. While he was doing the initial rapport building, I could feel the eagerness in his voice that he wanted to come to the main purpose of the call. He said that he needs money in the range of Rs 1 to 1.5 lakh immediately to pay it to his vendors & he will pay back the same to me by the same evening. I cross questioned about the purpose & other alternatives but he was trying to convince me to transfer the funds immediately to an account. By this time, I felt that something was wrong with him so I decided not to transfer the funds to him & he should contact me in 2-3 days’ time. After a few hours, I contacted his family members to inquire about the exact issue. They were also surprised as he had already taken money from them for the same purpose in the last 24 hours & was asking for more. They met him in person & took him in trust to share the exact issue. In the next few minutes, they were shocked to know that he became a victim of cyber fraud in the name of quick returns. They immediately complained to cyber crime helpline number 1930 & reported this fraud. A small portion of investment is expected to recover but the rest is gone. Investigation is still going on. The family members called me to say thanks that I saved them & the victim by denying the funds & informing them about it which saved them to minimize the losses. A few learnings from this case: • Greed – Greed was the main culprit in this case. Cyber fraudsters initially showed him that his money was growing rapidly & he should invest more & more money in it. The greed never stopped & he lost all the hard money of his family & himself. • No verifications – Trusting unknown people through social media platforms without any cross verifications & checks. • Lack of awareness – There was no / little awareness about the modus operandi of cyber fraudsters. • No sharing with near ones – He chose to hide the truth from the near & dear ones & kept lying to borrow more money & fulfil the demands of fraudsters. Cyber frauds are spreading like cancer. It’s impacting so many people now. Let’s be vigilant & help each other to stay strong amongst such fraudsters. What are your suggestions to control cyber frauds? Do share it. #cyberfrauds #greed #help #cybercrime #awareness #trust #verification