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The Aftermath: Corona Virus and Cybercriminal Activity

Just how much of an effect has the Corona Virus had on cybercriminal activity?

Bolster (a deep learning-powered fraud prevention company) released its Q1 2020 state of Phishing and online fraud report: COVID edition. The company utilizes its AI engine that gleans over and analyzed over 1 billion websites to provide an in-depth audit of how phishing attacks and online fraud is affecting companies and consumers. Some of the big items to take away from that report:

  • In Quarter 1 with the introduction of COVID on the global workplace, they observed an exponential increase in phishing and website scams detecting 854,441 phishing and counterfeit pages, with over 4 million being defined as suspicious.

  • The observed increase in Quarter 1 for phishing and counterfeit pages was over 30%

  • COVID medical scams have played on cures, with Bolster finding in March alone over 145,000 domain registrations with “stimulus check” in them.

  • The number of websites that were claiming to offer loans to small business jumped 130% from February to March. With over 60,000 banking websites that were attempting to siphon off stimulus funds.

  • Cybercriminals targeting remote workers using collaboration and communication sites observed a 50% increase from January to March, as a large majority of the workforce began working from home.

  • Phishing streaming sites saw an 85% increase from January to March, with over 209 websites being created per day – looking to exploit those who are looking for entertainment while in quarantine.

Link to report:

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