Beware! WfH, Online ‘Trade’ Are Newest Baits Laid by Cybercriminals

Introduction – The New Face of WfH Cybercrime In the post-pandemic world, the concept of “work-from-home” (WfH) has shifted from being a flexible and convenient mode of employment to a treacherous terrain where cybercriminals lie in wait. Exploiting the digital age’s opportunities, these malicious actors have transformed WfH into a honeytrap, preying on unsuspecting individuals who seek part-time employment or online trading ventures for quick financial gains. In this article, we delve into the disturbing rise of cybercriminals and the alarming consequences of their devious schemes, spotlighting the stories of victims and the methods employed by these perpetrators. Victims Span All Walks of Life This alarming trend reveals a disturbing truth: the victims are not restricted to any specific demographic. Cybercriminals have cast a wide net, ensnaring not only the gullible and under-educated but also professionals from diverse backgrounds. Startlingly, the Chennai cybercrime police have reported a staggering 122 complaints this year alone, underscoring the far-reaching impact of these criminal operations. Among these victims are software engineers and seasoned online traders, demonstrating that nobody is immune to the allure of online scams. Stories of Loss and Regret Consider the case of Nirmala, a 32-year-old software engineer who found herself on a maternity break. She fell victim to an online part-time job scam, losing a staggering Rs 64 lakhs. Even those who believed themselves to be savvy, like Venkadesh, a veteran stock trader, weren’t spared. Venkadesh, who had previously offered investment advice to friends, fell prey to scamsters, losing a colossal […]