Group-IB published its Digital Risk Trends 2023 report, which is a comprehensive analysis of the current and emerging digital threats landscape. The report has noted some alarming trends related to phishing and scam. Let us take a look at the numbers.
Serving stats
In 2022, there was a notable rise in phishing websites, with a 62% year-on-year growth, and a significant surge of 304% in scam pages.
- Among the targeted entities, financial institutions experienced the highest level of attacks, comprising 74% of fraud incidents and 24% of phishing attempts.
- Scammers exhibited a particular interest in brands from the APAC and MEA regions, which saw a substantial increase of 211% and 135% in fraudulent resources, respectively.
- While the majority of the scams in MEA (92%) and APAC (76%) were spread through social media, 48% of scams in Europe were disseminated via messaging apps.
Why this matters
Not only are scam campaigns targeting a growing number of brands each year, but the detrimental effects faced by each individual brand are also intensifying.
- According to the report, the rise in phishing and scam activities can be attributed to the increasing utilization of automation and social media in these campaigns. This trend is expected to persist, as AI text generators are now being employed to create persuasive phishing and scam content.
- To reach a larger pool of potential victims and avoid detection, scammers are employing numerous domains and social media accounts. This strategy allows them to not only target a greater number of people but also evade countermeasures intended to thwart their operations.
Recently, security researchers disclosed an increase in the use of mobile Android OS device spoofing tools on the dark web. One popular tool, Enclave Service, was found gaining traction among fraudsters as it can mimic mobile device fingerprints and other parameters analyzed by anti-fraud systems.
The bottom line
The significant rise in phishing websites and scam pages, coupled with the targeted attacks on financial institutions, emphasizes the urgency of addressing these threats. To mitigate these risks, organizations and individuals should enhance cybersecurity awareness and educate employees and users about phishing and scam tactics.
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