As we navigate through 2024, banking fraud continues to evolve, presenting new challenges for financial institutions. Driven by advancements in technology and changing economic conditions, these threats require banks to stay vigilant and adopt robust strategies to protect themselves and their customers.

If you’ve been scammed, there are different actions you should take based on what you were scammed into doing. For example, if you accidentally paid a scammer, you should contact your bank immediately. If you gave a scammer your login credentials, you should update your passwords and enable MFA immediately. If a scammer hacked your device, you should run antivirus software and possibly factory reset your device.

The sun produces enough energy every 90 minutes to power the world for a year. Despite this, in 2020, only around 0.2% of solar’s potential power production was utilized. Many organizations and nations have planned to move toward solar power. Still, consumers must have individual wealth, knowledge to vet potential installation companies, and wisdom to recognize and avoid potential traps.

In 2020, the world moved online, and the pandemic kicked industry demand into overdrive. Seemingly overnight, entire organizations yielded to the mandates pushed by health professionals, encouraging anyone not already online to make an account or two. That year, transaction card fraud totaled around $149 million in losses in the US and has only increased since then, up to $48 billion globally.

A scam operation called “Estate” has attempted to trick nearly a hundred thousand people into handing over multi-factor authentication codes over the past year, according to Zack Whittaker at TechCrunch. The scammers target users of Amazon, Bank of America, Capital One, Chase, Coinbase, Instagram, Mastercard, PayPal, Venmo, Yahoo and more.

Check out our Avast Q1/2023 Threat Report to see how social engineering scams have surged a whopping 61% on mobile and 23% on desktop.