KrebsOnSecurity reports on new opportunities for cybercriminals driven from the pandemic, including fraudulently applying for assisted loans and unemployment benefits as well as new lines of credit.
The criminal ring uses a mix of public information, including ownership records from the Secretary of State website, company officers/ owners SSNs and Tax ID #s from the dark web, and forged "official" documents tied to a business to prove ownership.
Brian Krebs then explains the steps criminals take and how the ring operates.
“We’ve done a good job in educating the public that anyone can be victim of identity theft, and in compelling our infrastructure to provide robust consumer protection and risk minimization processes that are more uniform,” she said. “It’s still not good by any means, but it’s definitely better for consumers than it is for businesses. We currently put all the responsibility on the small business owner, and very little on the infrastructure and processes that should be designed to protect them but aren’t doing a great job, frankly.”