News

Cybersecurity Firm Uncovers 2,400+ Fake Arabic Job Pages

The scam targeted internet users across 13 Middle East and North African countries.

Published

1 year ago

March 22, 2023

cybersecurity firm uncovers 2,400+ fake arabic job pages

Global cybersecurity leader Group-IB has revealed new research from its center in Dubai detailing a widespread fake job scam campaign targeting Arabic speakers in the MENA region.

Digital Risk Protection experts used AI and text analyzing tools to uncover over 2,400 fake job pages impersonating companies from 13 countries. The posts were created on social media platforms throughout the entirety of 2022.

On the job pages, fraudsters spoofed more than 40 of the MENA region’s largest companies. They published vacancies in Arabic offering salaries too good to be true, including “4,500 euros (USD $4,800) for drivers and painters”. Once interested victims interacted with links on the pages, they were taken to fake phishing sites where they were asked to enter login credentials and passwords.

Which Countries Were Targeted?

Arabic-speaking individuals were the exclusive targets of this particular scamming campaign, with Egyptian companies most frequently spoofed by the criminals.

headline data and timeline of mena job scam january 2022 – january 2023

According to Group-IB, “48% of all the fake profiles created on Facebook spoofed companies from Egypt. Organizations from Saudi Arabia (23% of all scam pages), Algeria (16%), Tunisia (7%), and Morocco (4%) were also frequently mimicked as well as offering individuals jobs at the 2022 FIFA World Cup in Qatar”.

What Industries Were Selected?

The scammers responsible for the fake job pages made adverts across multiple industries, though logistics firms were a popular target (64%). Group-IB noted that “scammers targeting MENA users are particularly fond of impersonating logistics enterprises due to the high potential ROI. The food and beverage (20% of scam pages) and petroleum (12%) industries were also heavily impersonated by the scammers, with one particular company being impersonated on more than 1,000 fake pages”.

Also Read: Is Your Phone Hacked? How To Find Out & Protect Yourself

Staying Safe Online

Group-IB warned internet users to stay vigilant and always confirm URLs when following links that supposedly lead to a company’s website — a particularly important habit on social media sites. Users should enable two-factor authentication (2FA) for all online accounts supporting the security feature and ensure they never use the same password across multiple accounts.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.