GRC Viewpoint

In 2022, Tech Support Scams Will Show An Upward Trend

The current year is already witnessing a heavy surge in tech support scams, a trend that is forecast to continue throughout the year. Unfortunately, the year 2021 was no exception, as tech support scams continued across the year.

The most exciting aspect about these scams is the fact that they exhibit variety in nature, although the base concept remains the same.

The majority of these scams directed towards brands/individuals involve the tactic of asking to initiate a toll-free number call which will be a scam call that will talk about some unnecessary/costly service. Brands need to safeguard themselves as brand impersonation using procedurally-prepared graphics is on the rise and, if not addressed, may reach a stage where it will be extremely difficult to control.

READ MORE: Why do Enterprises Need to Act Now in Terms of Fraud Management?

It certainly is an alarming situation, especially when businesses of various sizes struggle to come back to normalcy after the devastating effects of the coronavirus. Observers are already hinting at the possibility of these scams becoming a worldwide issue, provided efforts are not made industry-wide to analyze/curb these scams in the initial stages.

READ MORE: There is A New Interest in Neurodivergent Talent with respect to Addressing Cyber Security Skills Gap

If these details are not scary enough, let’s look at data from the previous year, which confirms across the U.S, there has been a loss of over 29.8 billion dollars due to phone scams alone. The coronavirus-imposed restriction was also a significant cause as people relied more on telephone, e-mails, and other virtual conversation tools than ever before.

Also, hackers are technical experts and constantly update themselves, making it arduous for information technology experts to keep up and prevent such issues.

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