Expert analysis on new cybercrime phenomenon of “silent theft”

Cybercriminals ditched big scams in favor of “ silent theft ” during a pandemic, according to a report from the Royal United Services Institute (RUSI) think tank. The paper claims that a phenomenon called “silent theft” – in which threat actors scam people for as little as £ 10 – started on a mass scale as criminals are “going down in the market” from big money scams. Individual victims are less likely to report the loss of a small sum of money, while it is difficult for police and banks to know whether it is a single fraud or a large criminal operation worth millions of pounds, according to the research. . Sneha Dawda, one of the authors, said silently …

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