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This post may refer to COVID-19

This post may refer to COVID-19

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Cybercrime Hit a New High in 2020, Targeting COVID-19 Aid Relief
interestingengineering.com

Cybercrime Hit a New High in 2020, Targeting COVID-19 Aid Relief

Cybercrime is booming, and last year turned out to be a record-breaking year for hackers to run wild, exploiting COVID-19 aid relief. Read more here.

International

2020 was a big year for hackers and cybercriminals running amok in the U.S., as the FBI's yearly Internet Crime Report points out. New records of complaints were broken, and billions of dollars will have most likely been lost.

One of the new targets, and perhaps new lows, for cybercriminals last year was online exploitation of the CARES Act, the U.S. federal economic relief package designed to support small businesses during the pandemic.

It turns out organized groups of hackers submitted fake online employment claims in bulk, by using stolen data, and ended up amassing millions of dollars.

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"Fraudsters targeted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which included provisions to help small businesses during the pandemic," the report reads.

"The IC3 received thousands of complaints reporting emerging financial crime revolving around CARES Act stimulus funds, specifically targeting unemployment insurance, Paycheck Protection Program (PPP) loans, and Small Business Economic Injury Disaster Loans, as well as other COVID-related fraud."