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A new report from Visa sheds light on the emerging market scams targeting consumers and Travelers, which included a new twist on old tricks to scam victims.
Visa’s “State of Scams: Fall 2024 Biannual Threats Report” found that there has been a resurgence in physical theft over the past six months, where criminals purchase gift cards or physical products using stolen payment information that can be resold, or using a card number. of money transfers.
A new style of physical theft, known as “digital collection,” has increased dramatically in the past year, according to the report. Fraudsters steal using a commercial cell phone, which they tap into an unsuspecting consumer’s wallet to pay, often in crowded places where the contact may be overlooked.
Michael Jabbara, SVP and global head of fraud services at Visa, told FOX Business that, “Consumers should be aware of digital fraud by being aware of their surroundings. Like old-school pickpockets, criminals prey on those who are distracted by what’s going on around them, making visitors to crowded places become the main victims.”
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Visa has released a new report on emerging scams and threats to consumers. (Photo by Miguel J. Rodriguez Carrillo/Getty Images / Getty Images)
“People should also consider turning on real-time purchase alerts for their accounts. This way, if they become a victim of digital fraud, they can notify their bank immediately, helping not only themselves but also others who may be victims of the fraudster. ,” added Jabbara.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| V | Company VISA INC. | 281.73 | -1.49 |
-0.53% |
Hackers are also promoting one-time phishing scams as a way to bypass two-factor authentication agreements meant to prevent unauthorized account access. The Visa report noted that scams have become more convincing in part because of the spread of the production. artificial intelligence (AI) and its use to screen victims for persuasive emails or other communications.
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Cybercriminals use fake airline websites to scam travelers. (Photo by Annette Riedl/photo alliance via Getty Images / Getty Images)
Visa has discovered that threat actors are also looking to take advantage of the busy travel season by exploiting consumer transactions travel plans. The report noted that one common scam involves fake websites that “spoof” or imitate those of major airlines and seek to lure consumers with discounted deals, who are then lured into paying for the airline’s services before the fraudster cuts off. the victim.
Scammers also impersonate airline officials to send fake cancellation emails that also ask for individual payment information to book a new flight.
Jabbara said that besides being aware of such scams, travelers should “be careful in crowded places where distraction tactics are often used to steal things.”
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Travelers should be aware of theft of their belongings and impersonation scams by fraudsters posing as airline officials online. (Miguel J. Rodriguez Carrillo/Getty Images/Getty Images)
He also revealed the best ways that consumers should follow to protect themselves from corruption and fraud, and how they should respond in case of theft if it happens unfortunately.
“First, consumers should set up purchase alerts to monitor their transactions and quickly flag anything wrong. Consumers should also set up two-factor authentication and protect any codes like passwords. “Consumers should also keep themselves informed about the latest scams to help them know what fraudsters are up to,” Jabbara said.
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“If consumers find something suspicious in their report, they should contact their financial institution immediately. After reporting fraud, resetting passwords and making sure two-factor authentication is set up correctly are important steps. If it’s stolen, it should also be reported to local law enforcement,” he added.
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