Tax Refund Email Scam Uncovered in the UK

Tax Refund Email Scam Uncovered in the UK

We talked about the spike in phishing attacks amid the coronavirus in our recent Cybersecurity & Data Privacy webinar with our partners Rize ETF to explain the opportunity of their CYBR ETF that is built on the Cybersecurity & Data Privacy Index that we developed with Foxberry. Below is yet another great example of “the why” behind that product.

A newly discovered phishing scam attempts to hook Brits with the promise of a tax refund from Her Majesty’s Revenue and Customs.

Research published today by Abnormal Security details a sophisticated fraud fest in which scammers impersonating the UK government target taxpayers via email.

Victims receive an extremely convincing message in their inbox informing them that they are to receive an outstanding tax refund from the 2018 tax year. Included in the email is a link to a fake website set up specially by the scammers to steal personal information from the victim.

The page has been designed to very closely resemble the official HMRC website, sporting the same logo, color scheme, graphic style, and font.

The criminals behind the fraudulent scam set a deadline on claiming the fake tax refund to increase pressure on victims to click on the malicious link.

“The attacker claims that the refund is time sensitive—the email was sent on April 16 and the attacker claims that the last day to claim is April 17. If the user does not immediately follow the link, they will lose access to their refund,” wrote a spokesperson for Abnormal.

Researchers noted a high level of detail was included in both the email and the fake landing page to produce an air of authenticity.

Source: UK Tax Refund Email Scam Uncovered – Infosecurity Magazine

About the Author

Chris Versace, Chief Investment Officer
I'm the Chief Investment Officer of Tematica Research and editor of Tematica Investing newsletter. All of that capitalizes on my near 20 years in the investment industry, nearly all of it breaking down industries and recommending stocks. In that time, I've been ranked an All Star Analyst by Zacks Investment Research and my efforts in analyzing industries, companies and equities have been recognized by both Institutional Investor and Thomson Reuters’ StarMine Monitor. In my travels, I've covered cyclicals, tech and more, which gives me a different vantage point, one that uses not only an ecosystem or food chain perspective, but one that also examines demographics, economics, psychographics and more when formulating my investment views. The question I most often get is "Are you related to…."

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