Olympic Fever amongst Fraudsters

With only a few days into the Olympics, scammers, thieves and fraudsters are already on the prowl for a chance at some silver.

While this is not the first time that thieves have used the games to make money, the increased social media focus of London 2012 presents new challenges for security by creating a platform for thieves to dive into. 

Highly televised sporting events including the World Cup and the Olympics are a constant target for the 419 scam, or some variant of the advance fee fraud wherein the scammer requests a sum of cash up front with the promise of a huge monetary gain. Usually, the scammer will claim that the victim has one a lottery held by the Olympic Committee. Chances are that that email recipient did not even enter a lottery 

London 2012 spam emails can come in many forms with some more convincing than others. While I normally pride myself in being able to detect a would-be ‘phisherman’ from a mile away, some of the scams I’ve analysed have caused me to take a second glance (maybe I really did win that date with the US men’s beach volleyball team…).  

The scammer at the other end of the email can be quite deceptive; his livelihood relies on tricking people after all. Often, the email will contain either a link to a fraudulent website or an executable file for you to download. Either of these options can put your computer at risk of getting a virus, and ultimately puts you at risk of identity theft. 

Unfortunately Olympic scams are not limited to the cyber world. There have been numerous reports of fake ticket sales, which leave fans out of money and disappointed about missing the game. So for those enviable people enjoying the Olympic Games, stay cautious and remember that if it looks too good to be true, it probably is. 

Whether you are one of the few lucky Canadians sitting in an Olympic stadium in London or are simply viewing the games from home, remember that there are always people out there willing to ruin a good time for the chance at making a profit. If you come across anything that you think may be a scam, look closely for anything suspicious, Google the company’s name and if you really want to be sure- call our hotline at 1-866-436-5461 and I’ll guide you through how to tell if it’s real or not.