How do criminals make money from disasters?

Since the beginning of 2016 we have been highlighting cyber risks with our clients, with a focus on protecting your assets and finances by having good cyber security.

With Hurricane Harvey, Hurricane Irma, Mexico’s earthquake all top of mind, the article from the Economist highlighting how criminals make money from disasters struck a chord.  The link is below, but to summarise, here are some of the ways that criminals take advantage of disasters to make money for themselves:

  1. Phishing scams requesting donations from duplicitous charitable organisations.
  2. Setting up a website or social media account for a fake charity.
  3. Using Facebook, Twitter to solicit donations for fake charities.
  4. False insurance claims for rebuilds.
  5. Small time operators going door-to-door to get deposits for rebuilds then disappearing.
  6. Insurance fiddles – goods written off then sold
  7. People deliberately damaging goods so that they can claim insurance cover

Read the Economist article here: How do criminals make money from disasters?

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