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User Security
Cyber Fraud Frankenstein fraud Identity Theft Online Safety Synthetic Identity Fraud User Security

Frankenstein Scam: Here's How to Safeguard Yourself Against Synthetic Identity Fraud

 

Identity theft is not always as straightforward as acquiring one person's information; stolen identities can be put together from several sources. This rising crime, known as synthetic identity fraud or "Frankenstein fraud," involves combining someone's Social Security number with information from other people to establish a new, fake identity.

To safeguard yourself from this and other types of identity theft, look into the finest identity theft protection services. Criminals frequently target the most vulnerable people, including children, the homeless, and the elderly. The offender can then use his new name to borrow money. If a fraudster succeeds, the real owner of the SSN may be held liable.

Modus operandi

Synthetic identity fraud requires patience on the part of the criminal, especially if they use a child's Social Security number. The identity is created by combining a valid Social Security number with an unrelated name, address, date of birth, phone number, or other piece of identifying information to make a new "whole" identity. Criminals can buy Social Security numbers on the dark web, acquire them from data breaches, or defraud people using phishing attacks and other frauds. 

Synthetic identity theft thrives because of a basic vulnerability in the American financial and credit systems. When a criminal creates a synthetic identity to request for a loan, the lender often denies credit because there is no record of that identity in their system. The thieves anticipate this because youngsters and teenagers may have little credit or a limited history, and the elderly may have poor credit scores. 

When an identity applies for an account and is reported to a credit bureau, it is shared with other credit agencies. That conduct is sufficient to allow credit bureaus to identify the synthetic identity as a real person, even if there is minimal activity or evidence to corroborate its authenticity. Once the identity has been established, the fraudsters can begin borrowing credit from lenders.

Prevention tips

Synthetic identity fraud may seem frightening, but there are actions you can take to limit how thieves can utilise your identifying data. 

Freeze your credit report: No one can open new credit lines in your name since a credit freeze stops creditors from viewing your credit reports. Unless your credit is first unfrozen with each of the major credit agencies, this also applies to you. 

Although the procedure for freezing a child's credit is a little more complicated, freezing their credit is also one of the greatest ways to cut off the source of synthetic identity fraud, which mostly depends on obtaining the Social Security numbers of children and the elderly. In a similar vein, you may help stop someone from using your Social Security number without your knowledge by freezing it.

Check credit reports regularly: If you do not freeze your credit reports, make sure to check them on a regular basis for any questionable activity. Be especially aware of any other names, residences, or employers associated with your credit file. You can also join up for free credit monitoring, such as Capital One's CreditWise, which searches the dark web for your personally identifiable information. 

Additionally, you can utilise an identity theft protection service to automate reviewing your credit reports or to alert you if your information is compromised in a breach. AnnualCreditReport.com also offers a free weekly credit report.
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User Security
Bank Scam Cyber Fraud Data Leak Financial Scam Fraudulent Message User Security

Five Ways to Identify a Bank Fraud And Stay Safe

 

It is not unusual for your bank to try to contact you. However, some of those emails and phone calls are simply scammers taking advantage of your trust in your bank to scam you. In general, you should be extremely sceptical of any unexpected messages. 

Modus operandi

You receive a phone call claiming to be from your bank informing you of a problem with your account. This is typically used for security purposes, such as informing you when someone is unlawfully accessing your account or has stolen your identity. 

Their response is to ask you to transfer all funds to a safe account' while the problem is resolved. The problem is that no one is attempting to access your account, and you are sending money directly to the crooks. The funds are then moved swiftly to other accounts around the world. 

Additionally, bank transfer scams might be the most common telephone, or vishing, scam, but they are far from the only one. Others may attempt to gain remote control of your computer by claiming there is a problem with your internet connection or that you have a virus.

In reality, they use this time to install malware on your computer and steal your personal information. Another strategy is to claim you're eligible for a refund or compensation but have received too much. You will then be asked to return the difference. 

How to detect a scam  

Urgency:  Fraudulent mails can generate a sense of urgency or mislead you into acting quickly. They may warn you about account termination, blocking your ATM card, or missing out on a limited-time promotion. Be wary of messages that urge you to take immediate action. 

Sender information: Legitimate banks usually send messages from certain phone numbers or email addresses. Be wary of messages from unknown phones or addresses that use generic greetings such as "Dear Customer" instead of your name. 

Personal data: Real banks would never request critical information such as your password, CVV code, OTP (One Time Password), or entire account number over SMS or email. If a message prompts you to update or verify such information, do not answer and instead contact your bank immediately. 

Grammatical errors: Legitimate bank messages are usually well-written and formatted. Typos, grammatical errors, and unprofessional language can all be indicators of a fake message. 

Verify: If you are unsure regarding a message, always contact your bank immediately using their official contact information (phone number or website) to enquire about its legality.

Better safe than sorry

The Federal Trade Commission reports that last year, fraud cost consumers over $12.5 billion. You can take measures to make it difficult for a bad actor to leave with anything, even though it could be simple for them to contact you by email, text, or social media. It's wise to use caution when dealing with something as important as your finances.
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User Security
Cyber Crime Pressure Tactics Ransom Payment ransomware attacks User Security

Turning The Screws: Pressure Techniques Used by Ransomware Outfits

 

Over the past ten years, ransomware attacks have increased in frequency and sophistication. While exploits like social engineering and unpatched software may help with an initial breach, it's the coercive tactics that force victims to make rash and emotionally charged decisions, like paying the ransom. 

Below are three of the most common tactics used by ransomware perpetrators to persuade victims into complying with their extortion demands.

1. Fear and humiliation 

Fear is a potent emotion that threat actors use. When a victim's documents are encrypted, the message is usually clear: pay the ransom or lose your data forever. In addition to the fear of data loss, cybercriminals use the threat of humiliation to demand ransom in order to prevent the disclosure of sensitive information such as company files, financial data, or personal images. 

Cybercriminals sometimes go one step further by threatening legal action, especially in highly regulated sectors like healthcare or finance: Pay the ransom, or we'll denounce you to the authorities. Due to the increased pressure, victims are compelled to take action out of fear about possible legal action. 

2. Deadlines and ultimatums

Most ransomware demands include a tight deadline to intensify the pressure. Attackers usually give victims a deadline, like 48 hours, to comply, frequently along with a clear warning of the repercussions. Some ransomware programs show a countdown meter, which acts as a continual reminder that time is running out, to further exacerbate panic. Attackers may raise the stakes, such as making some of the stolen material publicly available, or double the ransom if the deadline is missed.

3. False hope and fake assurances 

False promises are another tactic used by ransomware operators to trick victims into believing there is a possible solution. However, victims are merely coerced into complying by this hope. Attackers may provide a solution like a trial decryption tool to "prove" their solution works, a discount for speedy payment, or an extension on the payment deadline—tactics intended to strengthen the notion that paying the ransom would result in a complete recovery.

In reality, just 4% of individuals who pay are able to restore all their data. Furthermore, criminals frequently say that if the ransom is paid, the stolen data will be completely destroyed and the victim will be left alone. However, 78% of victims who pay report recurring attacks, proving that these assurances are nothing more than intentional deception. 

Mitigation tips 

The following are some best practices that can help organisations in handling these pressure tactics: 

Preparedness:    Ransomware attacks can happen to anyone. Employers must provide clear instructions and techniques for their employees to follow, as well as teach them how to respond and report in stressful situations while remaining calm and composed. 

Avoiding impulsiveness:  Avoid making decisions primarily based on emotional factors such as anxiousness or desperation. Evaluate all available information and investigate possible solutions and alternatives. 

Not making a payment right away: Don't ever give in to the urge to pay. Speak with law enforcement, cybersecurity experts, and skilled ransomware negotiators, or get advice from cyber insurance companies. Investigate backups and other recovery options. Online decryptors may even be accessible for some ransomware strains.
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User Security
Data Breach Data Leak Ransomware attack Retirement Service Firm United States User Security

Ransomware Attack on Retirement Services Firm Exposes Thousands of US School Data

 

A ransomware assault targeting retirement service firm Carruth Compliance Consulting has resulted in a data breach affecting dozens of school districts and thousands of individuals in the US. Carruth Compliance Consulting (CCC) administers retirement savings accounts for public schools and non-profit organisations.

Carruth announced on its website on January 13, 2025, that it had detected suspicious activity on its computer systems on December 21, 2024. An investigation revealed that hackers gained access to company networks between December 19 and December 26, and stole some files. 

The company claims that private information such as name, Social Security number, financial account information, and, in specific circumstances, driver's license numbers, medical billing information, W-2 information, and tax filings were among the hacked files. Free identity restoration and credit monitoring services are being provided to affected consumers. 

A relatively new ransomware organisation called Skira claimed responsibility for the Carruth attack this week, claiming to have taken about 469 gigabytes of data, including databases, source code, and the data the company had included in their customer notification. Only four additional victims are listed on Skira's Tor-based leak website as of this writing; the first victim was revealed in December 2024. 

While Carruth has not disclosed the number of impacted organisations and individuals, dozens of school districts and institutions across multiple states have confirmed in recent weeks that they have been affected by the cybersecurity issue. School districts notified state attorneys general that Carruth was unable to identify affected individuals, and each educational institution is seeking to identify current and former employees whose personal information was provided with the retirement services provider. 

To date, nine school districts in Maine have reported identifying more than 20,000 individuals affected by a data breach, as mandated by the attorney general. The Carruth data breach comes just weeks after it was revealed that hackers may have stolen the personal information of millions of students and instructors in the United States and Canada after a cyberattack on education software and services company PowerSchool.
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User Security
Data Breach Lawsuit Treasury Department US Citizens User Security

19 US States Sue to Prevent DOGE From Accessing Americans' Private Data

 

In an effort to prevent Elon Musk's Department of Government Efficiency from gaining access to Treasury Department documents that hold private information like Social Security numbers and bank account numbers for millions of Americans, 19 Democratic attorneys general filed a lawsuit against President Donald Trump on Friday last week. 

Filed in federal court in New York City, the lawsuit claims that the Trump administration violated federal law by giving Musk's team access to the Treasury Department's central payment system. 

The payment system manages tax refunds, Social Security payments, veterans' benefits, and much more. It sends out trillions of dollars annually and contains a vast network of financial and personal information about Americans. To identify and cut out what the Trump administration has determined to be unnecessary federal spending, Musk established his Department of federal Efficiency, or DOGE. 

Supporters have applauded the concept of limiting bloated government finances, but critics have expressed wide concern over Musk's growing authority as a result of DOGE's access to Treasury documents and its review of other government agencies. 

The case was filed by the office of New York Attorney General Letitia James, who stated that DOGE's access to the Treasury Department's data presents security issues and the potential for an illegal federal fund freezing. 

“This unelected group, led by the world’s richest man, is not authorized to have this information, and they explicitly sought this unauthorized access to illegally block payments that millions of Americans rely on, payments for health care, child care and other essential programs,” James noted in a video message published by her office. 

James, a Democrat who has been one of Trump's main opponents, stated that the president cannot stop federal payments that Congress has authorised or give out Americans' private information to anybody he wants. Moreover, Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, North Carolina, Oregon, Rhode Island, Vermont, and Wisconsin are parties to the complaint.

The suit claims that DOGE's access to Treasury records may interfere with funding already approved by Congress, which would go beyond the Treasury Department's legislative power. The case further contends that DOGE access violates federal administrative law as well as the separation of powers doctrine of the US Constitution. 

It also accuses Treasury Secretary Scott Bessent of altering the department's long-standing policy of safeguarding sensitive personally identifiable information and financial information in order to grant Musk's DOGE team access to the payment systems. 

The Treasury Department has stated that the review is intended to assess the system's integrity and that no adjustments would be made. According to two people familiar with the situation, Musk's team began exploring ways to block payments made by the US Agency for International Development, which Trump and Musk are aiming to abolish. The two persons spoke to The Associated Press on the condition of anonymity for fear of punishment.
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User Security
Cyber Fraud phishing QR code Quishing User Security

Quishing On The Rise: Strategies to Avert QR Code Phishing

 

QR codes are already ubiquitous: from restaurant menus to public transportation schedules, everyone wants you to scan theirs. This normalisation of scanning random QR codes is being exploited, resulting in a new cybersecurity threat known as Quishing. 

What is Quishing? 

Quishing (QR code phishing) is the process of placing a malicious URL into a QR code. Rather than linking to a legitimate website, the code will load a page that attempts to steal information, infect your device with malware, or execute another malicious act.

It's a goofy name, but it poses a serious threat. While we're all aware that you shouldn't browse suspicious websites or download unfamiliar files, the nature of QR codes makes it impossible to tell what's on the other side. With a scan and a tap, you're whisked away to a website that may contain material you don't want to see, or routed to a malware download. 

It's also possible to be duped into scanning a QR code: many businesses build their QR codes using third-party services and URL shorteners, which means that the embedded links may not always redirect to their actual websites. This makes it challenging to determine whether a QR code has been tampered by someone carrying out a quishing assault.

Is quishing a real threat? 

Yes. It is already happening and has proven to be beneficial. QR codes for parking meters, restaurant payments and tip systems, and phoney advertisements are being tampered with all across the world to perpetrate quishing frauds, typically by simply sticking a sticker with a bogus QR over an already existing official code.

These trick codes then lead to false login pages and payment sites, where you can either pay the scammer directly or give them your information (which can be used to steal your money later or push further scams). 

Safety tips 

There are a few efficient strategies to safeguard yourself from quishing: 

  • Make use of your device's built-in QR code scanner. App shops' QR scanners have a bad reputation for security and privacy.
  • Avoid clicking on links that employ URL shorteners and make sure the destination a QR code is attempting to direct you to is genuine before clicking on the link. 
  • Avoid paying with QR codes whenever you can, especially if the payment link takes you to an unidentified address. 
  • Additionally, be aware that phoney websites often use names that sound similar to legitimate ones, so double-check your spelling.
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User Security
Cyber Attacks Malicious Campaign Mishing PDF Files User Security

Cybercriminals Exploit PDFs in Novel Mishing Campaign

 

In a recently uncovered phishing campaign, threat actors are employing malicious PDF files to target mobile device users in potentially more than fifty nations.

Dubbed as the "PDF Mishing Attack," the effort exposes new vulnerabilities in mobile platforms by taking advantage of the general belief that PDFs are a secure file format. 

The phishing campaign poses as the United States Postal Service (USPS) to earn consumers' trust and trick them into downloading infected PDFs. Once opened, the hidden links take victims to phishing pages designed to steal credentials.

"PDFs are used extensively for contracts, reports, manuals, invoices, and other critical business communications," said the zLabs team at Zimperium, who uncovered the campaign. “Their ability to incorporate text, images, hyperlinks, and digital signatures while maintaining integrity makes them ideal for enterprises prioritizing professionalism and compliance.” 

Hidden in plain sight 

Threat analysts at zLabs have been keeping a close eye on the phishing campaign, which targets only mobile devices and poses as the US Postal Service (USPS). It has discovered 630 phishing pages and over 20 malicious PDF files.

“This campaign employs sophisticated social engineering tactics and a never-before-seen means of obfuscation to deliver malicious PDF files designed to steal credentials and compromise sensitive data,” the researchers noted. 

Advanced evasion techniques hide clickable malicious URLs within PDF documents, easily bypassing traditional endpoint security solutions. This assault is primarily aimed at mobile device users, capitalising on the limited accessibility that mobile platforms provide while previewing file contents. Unlike desktop platforms, where PDFs are often used with security overlays, mobile devices lack the same safeguards, leaving users vulnerable to covert attacks. 

On threat detection 

This latest attack highlights the need for enhanced mobile threat defenses. PDFs have long been thought to be safe for sharing and storing information, however this is not the case. 

According to an HP Wolf Security report, PDF threats are on the rise. While online criminals used to primarily use PDF lures to steal credentials and financial data via phishing, there has been a shift and an increase in malware distribution via PDFs, including strains such as WikiLoader, Ursnif, and Darkgate. 

Zimperium emphasises the value of on-device threat detection to find and eliminate these scourges before they can do any damage because traditional endpoint security systems, which are sometimes made with desktop settings in mind, may not be able to detect sophisticated attacks on mobile platforms.
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User Security
Banshee Stealer Infostealer macOS malware User Security

New Version of Banshee Malware Targets macOS Users

 

According to the latest study published this week, a new variant of the info-stealing malware known as "Banshee" has been targeting macOS users' passwords, cryptocurrency wallets, browser credentials, and other data for at least the past four months.

Check Point researchers discovered that the latest version targets anyone using a Mac and can be downloaded mostly through malicious GitHub uploads, but also through other websites (GitHub's policies prohibit malware, but this does not mean there is no malware on GitHub). 

This latest Banshee malware often disguises itself as the Telegram messaging app or the Google Chrome browser, two popular apps that other malware attackers use to trick users. This version first surfaced in September last year and attempts to evade detection by using Apple's proprietary string encryption algorithm, XProtect.

This malware targets your browsing activities in Chrome, Brave, Edge, or Vivaldi. It also attempts to steal your cryptocurrency if you have any crypto wallet browser extensions installed, and it may show macOS victims fake login pages in an attempt to steal their usernames and passwords, which it then uses to steal accounts and funds. It will target your Coinbase, Ronin, Slope, TONNE, MetaMask, and other cryptocurrency wallet extensions if you have them. 

The source code for Banshee was leaked online in November. This could have helped antivirus companies ensure their software catches the sneakier version in the months since. Prior versions of this malware were marketed as "stealer-as-a-service" malware on cybercriminal channels, including attacker-controlled Telegram channels, for $3,000 per "license.” 

To stay protected from info-stealer malware, it's a good idea to consider getting a crypto hardware wallet like one from Ledger or Trezor if you have over $1,000 in crypto. In general, it's also a good practice to avoid storing more than $1,000 in any browser extension-based crypto wallet (you can also store funds with an exchange like Coinbase, Robinhood, or Kraken). 

Additionally, passwords should never be kept in an unsecured digital document on your computer (no Google Docs). Instead, think about keeping your crypto seed phrases on paper in a closed box or safe at home.
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