Over 1,000 companies lost $100 million from global job scam: Report
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New Delhi (Uttam Hindu News): According to cybersecurity researchers, the ongoing global jobs scam is likely to affect more than 100,000 victims in more than 50 countries around the world, causing a collective loss of more than $100 million to more than 1,000 companies. There is a possibility of personal loss.
Based on victim complaints and reported monetary losses, reported losses from impersonation by a single company exceed $200,000.
According to the team at cyber-security company CloudSEEK, “Hackers nicknamed ‘Webworm’ in global job scam have impersonated more than 1,000 companies across 10 industries for a combo task scheme similar to the ‘Blue Whale Challenge’.”
“The scale and sophistication indicate a highly skilled and persistent threat (TA) group that requires urgent awareness,” the researchers said.
According to them, more than 6,000 fake websites, nearly 600 websites sharing unique WhatsApp numbers and 230 Telegram handles are targeting people in more than 50 countries.
“The potential collective impact on victims, taking into account the multitude of impersonated companies and an average loss of $100,000 per company based on reported financial losses, potentially exceeds $100 million,” the report said. , affecting more than 100,000 individuals.”
“As countless individuals are lured by the lure of thousands of dollars in their name, brand trust diminishes,” the report said. “This becomes evident as people suffering the plight are unknowingly holding legitimate companies responsible for being the organizers of these scams.”
The webworm, likely active since late 2022, has multiplied since early 2023, with the threat actor group adopting various deceptive tactics.
CloudSEEK said it has shared details of the investigation with global law enforcement agencies to help them implement remedial action, including dismantling scam infrastructure and reporting fake organizations.
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