The thread through Fraud and Scams has now become an international concern.

Interpol has started the

Think Twice

campaign.

The checklist to mitigate risks includes:

• making considered and rational choices, especially when dealing with unsolicited, unfamiliar, or suspicious links, emails, or messages
• pausing to evaluate the authenticity and credibility of digital content before taking action
• verifying identities through multiple channels and being cautious of requests, even from ‘familiar’ faces
• implementing a cybersecurity culture in the workplace and providing guidance on issues and incidents for employees
• being cautious when forming online relationships, especially when money is involved
• staying informed on the increasingly advanced tactics used in cyber-enabled financial crimes, making detection significantly more challenging.

These sophisticated scams have seen a significant increase in recent years. Ransomware attacks are up by 70 per cent. Malware attacks have risen by over 30 per cent in the past year alone. Some 20 per cent of employees unknowingly run malware.

With phishing attacks evolving and becoming harder to detect, criminals are also exploiting technology. They are using generative AI to create ultra-realistic human avatars. This deceives thousands worldwide through voice, image, and text manipulation.

Romance baiting scams are on the rise too. Cyber criminals use fake online profiles to build relationships and gain trust. They do this before asking for money.