Hello! In our increasingly digital world, staying safe online is crucial, especially for seniors who are often targeted by sophisticated scammers. Today, we’re highlighting a new and alarming type of tech support scam that aims to steal your life savings. Understanding these scams and knowing how to protect yourself can make a huge difference.

How the Scam Works

Scammers have evolved their tactics, moving from fake virus alerts to more elaborate schemes. Here’s a detailed breakdown of how these scams typically unfold:

Fake Pop-Up Alerts:

You might see a pop-up on your computer claiming that your device has been infected with a virus. The message urges you to call a tech support number immediately. These pop-ups often mimic legitimate security alerts from well-known companies like Microsoft or Apple, making them seem more credible.

The Fake Call:

When you call the provided number, you’re connected to a scammer posing as a tech support agent. These agents are often very professional and convincing, using technical jargon to appear legitimate. They might ask you to grant remote access to your computer, ostensibly to “fix” the issue. This allows them to install malware or steal sensitive information directly from your device.

Escalation to a ‘Higher Authority’

After gaining your trust, the scammer might transfer you to another person claiming to be from a government agency (like the FBI or the Federal Trade Commission) or your bank’s fraud department. This person will validate the original scammer’s claims and escalate the perceived threat.

The Fraudulent Solution:

You are told that your bank, investment, or retirement account has been compromised and is being used for illegal activities. The scammer then instructs you to transfer your money to a “safe” account, which is actually controlled by the scammers. In some cases, they might ask you to buy gift cards or cryptocurrency, or even withdraw cash to hand over to a courier.

Pressure Tactics and Urgency:

Scammers often create a sense of urgency, insisting that immediate action is needed to protect your funds. They may claim that failure to act quickly will result in the loss of all your savings.

Real-Life Example

Imagine receiving a call where a person claiming to be from your bank’s fraud department says they’ve detected suspicious activity on your account. To protect your funds, they advise you to transfer all your savings to a different account. This new account, however, is under the scammer’s control. Once the transfer is made, your money is gone, often without any trace.

Here at Security for the Cloud we have talked to three people in the last few months that were taken by this scam. One for $25,000, one for $80,000 and one for an unknow amount.

How to Protect Yourself

Never Trust Pop-Up Warnings:

Legitimate tech companies will not send unsolicited pop-up messages requesting you to call them. If you see such a pop-up, close it and run a scan with your antivirus software.

Avoid Moving Money on Someone Else’s Advice:

Genuine financial institutions will never ask you to transfer money to protect it. Always verify by contacting your bank using a known, official number. Never use the contact information provided by the potential scammer.

Keep Verification Codes Private:

Scammers might ask for verification codes sent to your phone or email. These codes can give them access to your accounts. Never share these codes with anyone.

Verify Directly:

If you receive such a call, hang up and call your bank or the relevant institution directly using a number you know is correct. Never use the number provided by the potential scammer.

Report Scams:

Inform authorities about any scam attempts. Your report can help prevent others from becoming victims.

Additional Tips and Resources:

Stay Updated on Common Scams:

Keep yourself informed about the latest scams by subscribing to consumer alerts from reliable sources.

Use Trusted Security Software:

Ensure your computer has up-to-date antivirus and anti-malware software to detect and block malicious pop-ups.

Educate Yourself and Others:

Read articles and watch videos on how to recognize and avoid scams. Websites like AARP and the Cybersecurity and Infrastructure Security Agency (CISA) offer valuable resources and tips for seniors. SFS offers up to date scam info via https://securityforseniors.com

Secure Your Accounts:

Enable two-factor authentication on your financial accounts to add an extra layer of security.

Consult with Professionals:

If you’re unsure about a potential scam, consult with a trusted family member, financial advisor, or a tech support professional you know personally.

Conclusion:

Staying informed and cautious is your best defense against tech support scams. Remember, no legitimate company will ever pressure you to make quick financial decisions or ask for your sensitive information without proper verification. Stay safe online, and don’t hesitate to reach out to trusted sources if you suspect something is amiss.

By following these tips, you can protect yourself and your loved ones from falling victim to these malicious schemes.