Visa’s 2024 State of Scams report warns of intensified cyber threats, including digital pickpocketing and OTP phishing attacks.
In its bi-annual ‘State of Scams’ report for 2024, payment card company Visa has revealed an alarming surge in cyber-attacks targeting its customers. The report highlights an array of escalating threats to customer accounts and sensitive information.
Emerging Cyber Threats
The Visa report underscores the innovative tactics that cyber crooks are employing to defraud customers. These range from purchasing gift cards and physical goods using stolen payment information, to exploiting card numbers for money transfers.
Digital Pickpocketing and OTP Phishing
The report also sheds light on emerging scams involving digital pickpocketing. Criminals are using point-of-sale mobile devices to tap into unsuspecting customers’ wallets. In addition, there’s an increase in one-time password (OTP) phishing scams where fraudsters bypass security measures to steal payment information.
Fake Flight Cancellation Scams
Besides, the report indicates a rise in fake flight cancellation emails. These scams are designed to trick …