Security precautions with financial companies in 2020
Security precautions with financial companies in 2020

Security precautions with financial companies in 2020

We live in a world where technology plays a huge role in our everyday lives. Almost everything from payment to work is attached to computers.

It is impossible to have a good job if you struggle with modern technology and as time goes, it is inevitable that modern technology will overtake almost every aspect of our lives.

With the development of modern machines and artificial intelligence, cybersecurity threats have also become rampant. Criminals try to expose the weaknesses that exist in technology and use them for their benefits.

Frequently they try to compromise the financial sector because it is a field where the money is.

2020 has been a tough year in terms of the new coronavirus pandemic and it should be said that the financial sector has also been affected by new security threats. In this article, we will talk about this topic.

Threats associated with fraudsters

Fraudsters always react quickly to new life circumstances and actively take advantage of our fears and confusion. Because of the pandemic, we now shop, communicate, learn, and work online.

This is undoubtedly very convenient and helps to survive the self-isolation regime in fairly comfortable conditions.

However, our constant presence on the Internet attracts cybercriminals and gives them the opportunity to carry out illegal transactions. This is how a new type of fraud appeared, which experts gave the code name – “cyber coronavirus”.

Fake letters, calls, and appeals from official organizations

Criminals send letters or call a mobile phone on behalf of the tax, bank, Ministry of Health, central banks, and other organizations, offering to receive financial assistance in connection with the pandemic, social benefits, deferred loans, and tax payments, services for the diagnosis of coronavirus, mandatory disinfection, etc. It all comes down to the fact that a person transmits his or her bank card details and password, or transfers money.

What is more surprising, some of the fraudulent Forex brokers also try to deceive people, because right now we have seen a surge in trading. They encourage people to sign up with MetaTrader4 brokers and then hand in their personal information about credit cards. Not knowing the threats associated with this, some people are careless, revealing their personal information.

SMS notifications about the violation of the self-isolation regime

There have appeared on the Internet alleged “notifications” of violation of quarantine and the requirement to pay a fine. The text is something like this: “You need to pay a fine in accordance with the FSIN resolution in the amount of a particular sum of money. You can pay the fine at any mobile payment terminal. If you fail to pay within 24 hours, a criminal case will be initiated against you. ”

The police are asked to report such fraudulent actions and explain the procedure for imposing a fine: a violation of the self-isolation regime is recorded on the spot, a protocol is drawn up and only then a case of an administrative offense is initiated. The fine, if imposed, is paid according to the order and according to the details, and not according to the phone number.

Fake news

Recently, a lot of fake news has appeared, which is actively sent in messengers or social networks. Such fakes are not so harmless. Experts note that they have come across dangerous recommendations for the use of anti-inflammatory drugs in the treatment of coronavirus.

To date, there is still no clinically proven drug against the COVID-19 virus. As soon as the remedy appears, the World Health Organization will announce this on the official website.

Unfair trade

Criminals have become active on the Internet and offer overpriced medical masks, disinfectants, medications, etc. Most often, they ask to transfer money in advance. The chances are great that the deal will end there.

How can we protect ourselves from it?

  • Be attentive to everything on the Internet and check any information related to the coronavirus.
  • Install a reliable antivirus program.
  • Don’t follow links from emails if you are not sure about the sender. Just ignore or delete the letter.
  • Be responsible for what information you share with friends and family on the Internet.
  • Buy goods in trusted online stores, not, Instagram, Telegram, and other messengers where sellers are not verified.
  • Keep in touch with your elderly relatives. Older people most often suffer from the actions of criminals. Tell them about potentially fraudulent transactions and the risks of online shopping.
  • Visit famous and official sites to obtain and verify any information.
  • For online purchases, get yourself a separate card and replenish it only before shopping.
  • Remember, if someone calls you, even introduces himself as a bank employee or on behalf of another important organization, then in no case ever tell your card details and codes from SMS.


We should note that financial companies have a lot of work to do to protect themselves and their customers in this very tough time. However, without assistance from people themselves, it is very difficult to adopt new measures effectively.

About CyberSecurityMag

Founded in 2018, CyberSecurityMag is an award-winning online publication for small business owners, entrepreneurs and the people who are interested in cyber security. It is one of the most popular independent small business publications on the web.

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