A spear phishing hacking group, working out of the United Kingdom and Nigeria, has been using business email compromise (BEC) scams and have stolen more than $12 million.
This group targeted small and midsize businesses from various industry groups such as manufacturers, hotels, universities, cloud service operators, and so on.
BEC scams have caused more than $12 billion in losses since 2013, and the threat is increasing in terms of exposed losses.
The destination banks are usually located in China, Hong Kong, UK, Mexico, and Turkey.
Scammers use the IRS W-2 forms and other Personally Identifiable Information (PII) requests to build their campaigns.
Year-end enrollment is one of major sources of PII requests.
That’s how human nature works.
* People who have really bought the bid pack and bid on a couple of auctions, thinking they should’ve won something, ended up jumping to a conclusion that DealDash scam is a real thing.
* People who have never bid on DealDash before and upon checking the site they find out things are being sold out for low prices and ended up jumping to a conclusion that DealDash scam is a real thing.
These products can vary from household items to furniture to electric devices.
Nevertheless, unlike other sites, the bids will increase by a penny at a time til the time runs out for the auction.
DealDash is not failing to claim that the maximum number of winners get products at 60-99% off retail pricing, including free shipping as well.