The CYBERA Scam Glossary provides definitions and context relating to common types of scams and related terms to help you better understand and navigate the complexities of scams.
Proactive measures taken to detect, analyze, and counteract cyber threats before they can cause significant harm. Unlike traditional, passive defense approaches that focus on blocking threats, active defense involves engaging with potential attackers through tactics like threat hunting, deception, and intrusion detection. In the context of CYBERA, it refers to engaging with scammers to extract threat intelligence, including mule accounts, domains, and brands being impersonated.
Refers to laws, regulations, and processes designed to prevent criminals from disguising illegally obtained funds as legitimate income by detecting, reporting, and combating suspicious financial activities. CYBERA provides financial institutions with intelligence about mule accounts being used to launder scam victim money to help them comply with Anti-Money Laundering regulations.
The process of attempting to reclaim funds lost through authorized payment fraud (scams). This involves working with financial institutions, crypto exchanges, law enforcement, and sometimes third-party recovery services to trace, freeze, and return stolen assets to the victim. Effective asset recovery often requires prompt action, thorough documentation, and coordinated efforts across multiple law enforcement and financial entities in multiple countries to maximize recovery chances.
Fraudsters impersonate well-known individuals or organizations, claiming to offer cryptocurrency giveaways in exchange for an initial payment or sensitive account details.
Scammers lure victims with promises of free cryptocurrency (airdrops) in exchange for sensitive information, such as private keys or wallet details.
Fraudulent fundraising schemes where scammers promote fake blockchain or cryptocurrency projects to attract investments. Victims often lose their funds when the scammers disappear without delivering the promised product.
Schemes where scammers entice victims to invest in fraudulent or non-existent crypto projects, promising high returns. These scams often leverage fake platforms, endorsements, or exaggerated claims to gain trust.
Fraudsters impersonate legitimate entities, such as banks or crypto exchanges, to steal sensitive information like private keys, passwords, or account credentials. These scams are often conducted via fake emails, websites, or text messages designed to look authentic.
A fraudulent practice where scammers artificially inflate the value of a cryptocurrency through misleading statements or hype, attracting investors. Once the value rises, the fraudsters sell off their holdings, causing the value to plummet and leaving other investors with worthless assets.
Fraudsters build trust with victims by posing as romantic interests on online platforms, ultimately coercing them into transferring funds under false pretenses.
A type of crypto scam where developers abandon a project or cryptocurrency after attracting significant investment. This leaves investors with worthless assets while the scammers disappear with the funds.
A deceptive scheme where a fraudster manipulates a victim into willingly transferring money, often by pretending to be a trusted entity, such as a company, government agency, or loved one. Through false claims or urgent appeals, the scammer convinces the victim to authorize the payment, making recovery more challenging since the transaction was voluntarily initiated by the victim.
The process of assisting customers with reporting scam losses to beneficiary banks, reporting the scam to law enforcement, and managing the process of asset recovery.
The process of assisting victims of fraud in reporting scams to law enforcement and pursuing asset recovery. It involves guiding victims through documenting incidents, submitting complaints, and collaborating with banks and authorities to increase the chances of recovering lost funds. Effective scam response also includes providing victims with resources and support to mitigate further risk and prevent future scams.
The process of preventing suspicious or unauthorized transactions from being completed to protect against potential fraud. This method involves real-time monitoring and automatic stopping of payments based on risk factors, patterns, or rules, aiming to prevent financial loss and safeguard customer accounts.
Manipulative techniques used by fraudsters to deceive victims into divulging sensitive information or transferring funds. This includes romance scams, business email compromise (BEC), and other schemes that exploit trust and emotions.
