Modern scams do not only target individuals, but all types of businesses – ranging from large corporate entities to small and medium enterprises .
* The stories above are based on reports of successful scam prevention by CIMB. For privacy purposes, the names of victims and companies have not been used.To avoid falling victim to scams, learn how to identify the different types of modus operandi adopted by scammers:Scammers may impersonate a business stakeholder or act as an authority figure from the income tax, immigration or police department to dupe business owners through virtual means such as email, text or phone call.
Through these fake accounts, scammers will reach out to unsuspecting followers, offering freebies and contests in exchange for their personal data.> Impersonators: Some forms of ransomware are also distributed via online advertisements which appear legitimate, easily tricking users into clicking them.
Scammers may alter digital receipts or invoices or even create them from scratch, claiming they have already made a purchase.