News
884 Scam Pages Unearthed In $280K Global Investment Scam
Links to the pages were shown in Facebook ads purchased by fraudsters, who lured users into making fake investments in market-leading companies.
Group-IB, a global cybersecurity firm working alongside the UAE Cybersecurity Council, has published new research outlining an international fake investment scam that significantly impacted social media users in the Middle East.
Experts from Group-IB’s Digital Risk Protection team discovered 884 scam pages with traffic coming from Facebook advertisements purchased by the fraudsters. The social media campaign offered users the opportunity to invest in one of 35 market-leading firms, including legitimate financial, insurance, transportation, oil, gas, and construction companies.
Group-IB researchers found English, Arabic, and Spanish Facebook ads. In Arabic-language advertisements, scammers enticed individuals with bold claims that they could “earn millions” by investing “a mere $200” amount.
If a user clicked on an ad, they were redirected to a scam page containing legitimate branding from a prominent company, along with a request for their name, email address, and phone number.
After filling out the form, users would receive daily emails claiming to be from a trading portal. Users would be urged to deposit funds into the fake trading account to begin buying stocks. The scammers would even resort to phone calls if a user didn’t respond. The elaborate con also requested bank details, ID, and passport copies.
Also Read: The Largest Data Breaches In The Middle East
“Retail investing is becoming increasingly popular among individuals who are looking for ways to diversify their income. This particular scam is notable as the cybercriminals leverage multiple communication channels, such as email and direct phone calls, as part of their social engineering efforts. We urge individuals to never share personal information or money with third parties unless you are certain of their legitimacy,” said Sharef Hlal, Head of Group-IB’s MEA Digital Risk Protection Analytics Team.
In total, 60% of the scam pages targeted users from the Middle East and Africa (MEA) region. Based on Group-IB’s research, the criminal campaign is thought to have caused $280,000 in financial damages between March and June 2023.
News
Viasat Satellite Messaging Tech Showcased In Saudi Arabia
The direct-to-device (D2D) demonstration highlighted the technology’s potential to revolutionize remote communication.
Satellite communications firm Viasat announced yesterday that it had completed its first demonstration of direct-to-device (D2D) satellite connectivity technology in Saudi Arabia. The live broadcast took place during the “Connecting the World from the Skies” event in Riyadh, organized by Saudi Arabia’s Communications, Space & Technology Commission (CST) alongside the International Telecommunication Union (ITU).
Attendees witnessed successful satellite-based two-way messaging and SOS alerts sent using commercial Android smartphones and a combination of Viasat’s robust L-band satellite network and the Bullitt over-the-top messaging app. Signals were transmitted using the company’s L-band spacecraft positioned over the Indian Ocean, while the infrastructure for 3GPP NTN services was deployed by Viasat’s partner Skylo.
Sandeep Moorthy, Viasat’s Chief Technical Officer, emphasized the significance of the demonstration, explaining, “By expanding our direct-to-device innovation to the Kingdom of Saudi Arabia, we’re showcasing the potential for D2D services in the fast-growing Gulf and Asia-Pacific region. D2D could help reduce barriers to connectivity in regions where terrestrial services are spotty and unavailable to help transform industries and supply chains, enable new opportunities, and to become more efficient, sustainable and safer. We’d like to thank the CST for their support in carrying out this exciting demonstration”.
Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis
D2D technology allows devices like smartphones, vehicles, and industrial equipment to connect seamlessly to both satellite and terrestrial networks. Unlike traditional satellite setups, D2D eliminates the need for extra hardware, thanks to emerging global standards that are gaining traction among satellite operators, mobile network providers, and tech manufacturers.
What makes this approach particularly promising is that Viasat uses a licensed, dedicated satellite spectrum to deliver its D2D services. This avoids any interference with existing terrestrial networks, allowing smooth integration with mobile network operators in the future.
The demonstration clearly showed the potential of D2D technology to bridge connectivity gaps in remote regions while opening up opportunities for innovation, improved safety, sustainability, and efficiency.
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