SABRIC, the South African Banking Risk Information Centre, is warning bank clients that cybercriminals are exploiting the spread of Coronavirus for their own gain using “Coronamania” panic to spread Coronavirus scams.

According to SABRIC, the Coronavirus scams exploit people’s concerns for their health and safety and pressure them into being tricked using social engineering. Social Engineering is manipulative and exploits human vulnerability because criminals know that the weakest link in the information security chain is the human being.

These new scams include spoofed emails offering products such as masks, or fake offerings of vaccines, leading to phishing websites. These emails come from seemingly realistic and reputable companies which manipulate people into clicking on links. Some of these websites prompt the user for personal information which ending up in the hands of cybercriminals.

Read more about these scams on the SABRIC website, here.