What is MFA?
Multi-factor authentication (MFA) is a security method that requires users to prove their identity using two or more distinct factors before accessing …
If you’ve ever been surfing the web and gotten a pop-up message that said something like, “Hurry, your device is under attack!” or “All of your data has been compromised,” you’ve been a victim of scareware. Scareware is a type of cybersecurity attack that uses scare tactics to make victims think their device is already compromised.
However, that’s the trick; scareware attacks direct people to click on a link or download software to “fix” the problem. But what most people don’t know, is that the real attack will come after following the instructions on your screen. You could be downloading ransomware, putting your files at risk, or even paying unnecessary sums to get out of the situation, and that’s exactly what the hacker wants. Don’t fall for it.
Because scareware attacks are designed to direct users to click links or download something, they can often be used to open the door to a ransomware attack. The scareware itself usually doesn’t damage your machine or network, but if you comply with what it tells you to do, you’re putting everything at risk.
It’s important to note that not all scareware scams turn into ransomware attacks. Many times, these attacks are meant to make you panic by opening a bunch of new windows or making it hard to close out of the initial popup. It’s important to stay very level-headed and calm if you’re facing scareware.
There is more than one way to scare someone, so be on the lookout for:
No one wants to mess with legal trouble, which is why law enforcement scams are especially effective in scareware attacks. The victim might get a pop-up saying that there is a warrant out for their arrest, and they must click the link to see the warrant. Then money is stolen, or information is gathered and sold – just as the attacker planned.
By pretending to be tech support, hackers get in touch with their victims by convincing them that they can help with an issue, and then they either sell fake solutions or instruct people to download “software” to solve the problem.
Probably the most-used approach, virus warnings send victims into a panic. In an effort to rid their machine of said virus, people will download malware that is disguised as security software.
Once exposed to a scareware attack, it can be very difficult for businesses to secure their networks and insulate their assets from the attack. If you suspect an active attack, work with your IT team to conduct proper recovery and backup protocol. Be sure to have an active cybersecurity insurance policy, too.
If you don’t want to wait for the worst-case scenario, there are many things a business can do to prevent scareware from taking its toll, such as:
Summary
Multi-factor authentication (MFA) is a security method that requires users to prove their identity using two or more distinct factors before accessing …
Imposter scams are a type of fraud where scammers pretend to be trusted individuals, companies, or government agencies to deceive victims into …
Accounts payable fraud is a deceptive practice that exploits vulnerabilities in a company’s payment processes. It occurs when individuals—whether employees, vendors or …
Eftsure provides continuous control monitoring to protect your eft payments. Our multi-factor verification approach protects your organisation from financial loss due to cybercrime, fraud and error.