Fraudsters come out with many fake and malicious activities and use different baits to trap users. Through various means like links, attachments, etc. they lure users in installing malwares onto their systems/devices. This comprises of data stored on the systems which might consist of sensitive data like SWIFT login, customer details, etc., thus leading to large scale Cyber-attacks and financial frauds.
Some malwares target mobile phones for stealing user data like card details, receiving and sending SMSs, capturing two-factor authentication details, etc. All this eventually leads to financial loss to users.
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