TOP STORIES
CYBER CRIME Scams & Passwords Every day we hear of a new cyber space attack. It’s a company or a government agency or a ransomware attack. Something. Always something. Worse, individuals, business and government seem powerless to stop the onslaught. Firewalls and other protections — like limiting and carefully checking email and personal and employee restrictions — don’t really work since the attacks are relentless. ZeroFOX is a social media security company. It just posted a study titled External Social and Digital Threats to Financial Institutions that points out a year ago there were 250,000 financing and bank scams at work on social media platforms like Twitter and Facebook.
Today — one year later — that number is nearly double at 437,165. Those scams are run by 18,175 individuals and groups. If each scam claimed one victim it would cost — globally — about $181 million. That doesn’t happen but you can see the loss potential from the sheer volume of scams designed to attack bank accounts, financial data and cash funds. The report believes the average victim ends up losing $414 per scam. ZeroFOX researchers say, “Attackers use FinServ hashtags & follower monitoring, the
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