As we approach the end of March 2021, it is crucial to stay vigilant against the rising tide of online scams. In the past 30 days alone, the number of inquiries and cases related to online fraud and scams has more than tripled, marking the highest volume in the history of our agency. This alert extends to both consumers and businesses as the threat landscape continues to evolve.

Widespread Concerns and Acknowledgment

This surge in online scams is not an isolated issue. Major publications, including Wired Magazine, are shedding light on the pressing need for action. The Department of Justice is being urged to intensify efforts against the proliferation of online scams. The FBI, in a recent press release, underscores the severity of internet crime, encompassing COVID-19 scams and a myriad of other fraudulent activities.

Global Impact: Tech Firms, Banks, and International Response

Internationally, the impact of online scams is evident. In the United Kingdom, Members of Parliament are calling for a crackdown on tech firms profiting from online scams. The Bank of England, a major financial institution, points fingers at big tech for enabling these scams. The scope of victims is shifting, with younger people increasingly falling prey to online scams, challenging the notion that only the elderly are susceptible.

Diverse Scam Tactics and Targets

Online scams have evolved to encompass a wide array of tactics, from phishing and hacking to elaborate Ponzi schemes. Scammers are capitalizing on the rise in online sales, the pandemic, and lockdown situations. The Better Business Bureau reports a significant increase in scam rates over the last 60 to 90 days. The technological advancements that enable scammers to operate with fewer resources are alarming. In some cases, small rooms with a handful of individuals are orchestrating thousands of scams simultaneously, reaching hundreds of thousands of people.

Protecting Yourself: Recognizing Red Flags

Whether you are an individual or a small business, recognizing the red flags of fraud is crucial in safeguarding your assets. Be cautious of unsolicited emails, social media posts, and online offers. Phishing attempts and hacking are rampant, and it’s essential to differentiate between legitimate communication and potential scams.

Stay Informed and Report Suspicious Activity

If you suspect you may be a victim or have questions about potential risks, reach out to our help desk at help@activeintel.com. In case of immediate risk, contact law enforcement. For concerns about liability, seek advice from a qualified attorney. The key is to stay informed, report suspicious activity promptly, and be proactive in protecting yourself and your assets.

As online scams continue to escalate, education and awareness become powerful tools in the fight against fraud. Stay vigilant, stay informed, and together, we can navigate the digital landscape with resilience.