FBI Warns of Tech Support Scammers Compromising Financial Accounts

  • Richard Marley
  • October 19, 2022
  • 2 minutes read
  • 64

The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in number of tech support frauds, victimizing many by compromising their financial accounts. 

Investigators have seen a new pattern where tech support fraudsters persuade victims that their bank accounts have been hacked and that money needs to be transferred. Scammers do this to access their computers and money.

In tech support fraud, scammers assume the roles of clients or tech support personnel of well-known and reliable technology firms. They can contact their targets by phone, email, or text message and offer to resolve problems like a hacked bank account or email, computer virus, or renewal of a software license. 

In order to “back up” the assets of their cryptocurrency wallets, victims are frequently instructed to transfer their money from their bank accounts to crypto exchange or to shift the contents of one wallet to another. Scammers will set up phony support sites to deceive cryptocurrency owners into getting in touch with them directly and persuade them to give over access to their personal crypto accounts or reveal login information.

In order to monitor, control, and perform tasks on victims’ computers, like opening digital currency accounts to ease the liquidation of real bank accounts, fraudsters also invite victims to install a free virtual desktop version on their PCs. 

“Cybercriminals are constantly coming up with new ways to scam unsuspecting consumers, and this latest tactic has resulted in staggering losses. In some cases, we’ve seen victims lose all of their life savings, so we urge everyone, especially our aging family members and friends, to heed this warning,” stated Special Agent in Charge of the FBI Boston Division Joseph R. Bonavolonta. “Anyone who experiences this type of intrusion should report to us the compromise to help prevent these predators from victimizing others, and potentially re-victimizing you.” 

As per the FBI’s Internet Crime Complaint Center (IC3), there’s been a constant rise in the money lost as a result of falling prey to a range of tech support frauds worldwide over the last five years. 

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