Cyber fraud support offered by HSBC

Rise in such crimes prompts response

Crown Dependency businesses are being offered advice about how to tackle cyber fraud during the Covid-19 pandemic.

HSBC has set up a website which the bank says contains up-to-date information on fraud and provides tips about online security, so businesses can protect themselves and their customers.

Data collated by the HSBC over recent weeks shows cyber criminals are evolving pre-existing types of fraud to target weaknesses in business processes as a result of the coronavirus.

In particular, the data shows instances of attempted ‘phishing’ and ‘smishing’, where fraudsters look to obtain sensitive information through unsolicited or fake emails, phone calls or text messages, have increased over the past few weeks.

In addition, fraudsters have sought to exploit mass communications by attempting to divert payments through purchase scams for medical equipment and fake mobile apps claiming to be related to Covid-19.