4. August 2021

This article has been indexed from E Hacking News – Latest Hacker News and IT Security News

The FBI and SEC have come with new guidance for investors to fight against financial scams. Users are being suggested to reject and report fraud if they want to protect their business from scams and save their money from being paid to an imposter. 

Among various sectors, consumer markets have taken a major hit as stringent lockdowns have brought economic activity to a standstill. 

Nowadays, cyber-attackers are employing highly sophisticated tricks to carry out financial scams activity. According to the FBI’s Criminal Investigative Division, and the United States Securities and Exchange Commission, fraudsters always try to mock as they are a real broker or investment adviser and trick users. Once a belief has been suspended, the fraudsters can trick investors into surrendering more information. 

The FBI and the SEC said, that cybercriminals are using very advanced technology for becoming real investors including fake social media profiles, fake websites that look exact to those of legitimate firms and are hiding their actual locations. 

In addition, cybercriminals have been falsifying legitimate documents, like public reports with a real identity and Central Registration Depository (CRD) numbers but unorganized firm names. Fraudsters who are tricking investors reportedly used poor grammar and had spelling errors. Besides the FBI and the SEC, a similar warning had been issued by FINRA last week.