The impact of covid-19 on cybercrime

A threat to everyone

It was not only businesses that were targeted by hackers, but also ordinary people.

According to the Federal Trade Commission, one in five people has lost money as a result of cybercrime and the losses are estimated at $3.3 billion. The biggest losses have been recorded by online investments and online shopping frauds, totaling over $600 million.

The most commonly reported fraud method was through telephone calls, and they are responsible for the largest financial loss, almost half a million dollars. The second most common fraud is via websites and mobile applications.

In many cases the chosen age group by Internet fraudsters are elderly people, for whom the latest technologies are challenging. It was no different last year, with those over 60 being one of the most attacked age groups. Seniors were also the most affected group, they lost the most money as a result of fraud, a total of around $300 million. The second most frequently chosen age group were people between 30 and 40 years old.

There were 500 000 more fraud reports in 2020 than in 2019. In the previous years the increases amounted to 200 000. 

 Identity thefts were the most frequently reported crime, followed by money extortion, and then  phishing attacks or theft of confidential data. The number of reported identity thefts was 1.4 million, twice as many as the year before. This is due to the global decline in employment. After governments of many countries extended unemployment benefits to people who lost their jobs as a result of the pandemic, cybercriminals massively applied for benefits using stolen (or forged) personal data. Taking advantage of the confusion and fear of the virus spreading, the fraudsters in the EU choose a similar tactic. By impersonating medical personnel that is supplying information material, hygiene products or testing for coronavirus, fraudsters gained access to confidential data and private homes of people who purchased their ‘services’. In this case not only the virtual safety is at risk but also the one in real life. 

Human traffickers and smugglers also benefited from increased identity thefts. Organized crime groups have invested and are continuing to invest more in the production of forged documents to strengthen the burgeoning crime market linked to the pandemic and migration crisis. Technology has allowed criminals to expand their business to almost every place in the world. Currently, traffickers and smugglers intensively use social media, where they especially search for children and young people, their search for acceptance, attention or friendship on the Internet makes them an easy target.

Cybercrime statistics have been kept for many years. They include information such as which documents are most often forged, where  they come from or which countries are most often targeted. This allows to see patterns of criminal behavior, which can contribute to more effective fraud detection. In this regard, last year’s statistics do not differ much from other years:

• Passports were the most frequently forged documents, followed by ID cards, credit cards and driving licenses.
• Most common forged citizenship was: French, Portuguese, Nigerian and Spanish 
• In Europe, the most frequently attacked countries were the Netherlands, Bulgaria, Belarus and Ukraine, the most secured were Ireland, the whole of Scandinavia, Belgium and Luxembourg. 
• In terms of security, Canada, Australia and Europe dominate the world. The worst are Africa, India, Russia and some South American countries.