FBI: Cybercriminals stole $262M by impersonating bank support teams

The FBI’s latest alert reveals that cybercriminals have swiped a whopping $262 million this year by impersonating bank support teams in sophisticated account takeover scams, hitting everyone from individuals to SMBs across various sectors. These crooks use slick social engineering tactics, like phishing sites and fake calls, to snag login credentials and MFA codes, then swiftly drain accounts by wiring funds to untraceable crypto wallets while locking out the real owners. It’s a nasty game that exploits trust, with over 5,100 complaints logged at the IC3 since January, showing how even tech-savvy pros can get caught if they’re not careful. For SMBs and MSPs, the takeaway is to crank up your defenses—use unique, complex passwords, enable multi-factor auth everywhere, stick to bookmarked banking sites, and if you get hit, immediately alert your bank and report to ic3.gov to minimize the damage.

Source: https://www.bleepingcomputer.com/news/security/fbi-cybercriminals-stole-262-million-by-impersonating-bank-support-teams-since-january/