Social media scams in India sky rocketing

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Tamas Oberoi, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

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India witnessed an increase of 156 per cent in social media scams with every sixth scam globally impacting an Indian
According to Symantec’s Internet Security Threat Report, India was the most targetted country in Asia and second in the world.

“A whopping 94 per cent of these scams were spread through manual sharing, proving India’s burgeoning social media population remains a favored target of scammers

Scammers are using social media to leverage the trust people have in their own social circles to spread scams, fake links and phishing, he added.

Public utilities and financial sector organisations, that were targeted once, were most likely to be targeted again at least two times more throughout the year.
Mining was the highest risk prone sector, where one out of two companies was attacked at least once last year, Also, 40 per cent of BFSI businesses were also attacked at least once, it added.Advanced criminal attack groups now have the skill sets of nation-state attackers. They have extensive resources and a highly-skilled technical staff that operates with such efficiency that they maintain normal business hours and even take the weekends and holidays off

However, it continues to rank as the third top source of overall malicious activity including spam, malware, phishing hosts and bots, etc. So keep your eyes open ,the next time you see any suspicious activity online,You might be getting hacked

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