Economic uncertainty will greatly impact the spread of cybercrime

Norton released its top cyber trends to watch in 2023, emphasizing that the economy will have the greatest impact on the spread of cybercrime next year. Experts predict the pressures associated with economic uncertainty and rising costs will create the perfect environment for scammers to take advantage of people when they are more vulnerable.

It’s expected that cybercriminals will trick victims into surrendering personal information, emptying their bank accounts, or spending money for products, services or “lottery winnings” that never arrive.

“We anticipate scammers will continue to prey on the vulnerability of people as economic pressures rise in 2023,” said Kevin Roundy, Researcher and Technical Director at Norton.

“Cybercriminals love to exploit seasonal opportunities, and consumers are facing a perfect storm of rising prices in the middle of the busiest shopping season of the year when scammers are particularly active. Scams are always harder to detect during the holiday season because consumers expect deep discounts and may believe prices that would normally seem too good to be true. This year, inflation and other unfavorable macroeconomic factors are likely to make people particularly eager to find good deals and they may therefore be at greater risk than in previous years. Taking a few proactive steps today could help you to be safer all year long.”

Norton Labs top predictions for 2023 Scammers will prey on vulnerable consumers: Expect a rise in financial-based scams such as assistance scams faking government assistance programs to steal Personal Identifiable Information (PII); shopping deal

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