FBI: Fraud rising during pandemic
Federal agents during the coronavirus pandemic have seen a significant rise in fraud complaints and criminal hackers targeting victims as the agency deals with cyber threats that have “evolved dramatically,” the FBI’s deputy director told a Boston audience Wednesday.
“Today, the threat comes at us from all angles,” said Paul Abbate, who last month was named the FBI deputy director.
“We see criminal actors turning to an underground economy in search of the most skilled hackers and sophisticated criminal cyber tools. They then leverage data theft, ransomware and other illicit methods to inflict immense harm on their victims,” he continued.
“The cyber threat has evolved dramatically in recent years.”
Abbate made his remarks during the annual Boston Conference on Cyber Security.
Locally, the FBI Boston Division’s head noted the “target-rich environment” in the region.
Joseph Bonavolonta, special agent in charge of FBI’s Boston Division, said the local agents have seen a “significant uptick” in fraud complaints during the pandemic.
For instance, when the federal coronavirus relief money was being distributed, Bonavolonta said there was an increase in phishing scams targeting stimulus checks and the Paycheck Protection Program.
“Now that we’re delving into the vaccination time frame, it’s some of the same types of threats that we’re focusing on right now,” he said.
Cyber criminal actors and nation-states have been eyeing New England as a “target-rich environment” because of the area’s industrial manufacturing organizations that hold trade secrets and patents, Bonavolonta said.
Abbate noted recent local cases, including two Massachusetts men who in 2019 were indicted on computer and wire fraud charges and identity theft for allegedly hacking into the accounts of cryptocurrency company executives.
“Cyber criminals perpetuating ransomware schemes have taken things to a whole new level,” Abbate said, later adding, “It’s important to stay focused on imposing risks and consequences on all bad actors in cyberspace, whoever they are and wherever they are, to make it harder and more painful for hackers and criminals to victimize others.”
The virtual conference was the result of a partnership between the FBI and Boston College’s Woods College of Advancing Studies.