SEC Warns Of Scams Following Hurricane Ida

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The SEC is warning people to be vigilant for scams related to Hurricane Ida, which hit states last week with torrential rains and winds that toppled power

The SEC said that recipients of payouts from insurance companies should be on high alert for investment fraud or other online efforts to steal their money due to damage from Hurricane Ida.

The financial watchdog cautioned against Ponzi schemes and other scams targeting those receiving payouts from FEMA or insurance companies.

A study released last month by the Cyber Security Cloud shows that there is a growing trend of increasing cyberattacks before, during, and after a global or regional event, citing the massive increase in attacks on Japanese organizations before August’s Olympics and attacks on U.S. organizations before the Super Bowl.

James McQuiggan, a security awareness advocate at KnowBe4, said people affected by floods, hurricanes and fires need immediate help in stressful times and can rely on their emotions without taking the extra time to check the validity of an email.

“Users want to avoid clicking on links in solicitation-style emails asking people to donate or be leery of requests to download images or video clips of people in troubled times. Cybercriminals will always find emotional lures to exploit users through social engineering,” McQuiggan said. “People want to recognize and only donate to worthwhile and established organizations that support people in life’s unfortunate situations after a hurricane or medical emergency. Additionally, this is critical for users who want to help out those in need and those who require financial assistance.”

For more information, read the original story in ZDNet.

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