In its bi-annual ‘State of Scams’ report for 2024, payment card company Visa has revealed an alarming surge in cyber-attacks targeting its customers. The report highlights an array of escalating threats to customer accounts and sensitive information.

Emerging Cyber Threats

The Visa report underscores the innovative tactics that cyber crooks are employing to defraud customers. These range from purchasing gift cards and physical goods using stolen payment information, to exploiting card numbers for money transfers.

Digital Pickpocketing and OTP Phishing

The report also sheds light on emerging scams involving digital pickpocketing. Criminals are using point-of-sale mobile devices to tap into unsuspecting customers’ wallets. In addition, there’s an increase in one-time password (OTP) phishing scams where fraudsters bypass security measures to steal payment information.

Fake Flight Cancellation Scams

Besides, the report indicates a rise in fake flight cancellation emails. These scams are designed to trick customers into rebooking flights, during which their payment information is exposed to the fraudsters.

Visa’s Recommendations

In response to these growing threats, Visa Fraud recommends customers to be vigilant, especially in crowded situations. The company also advises the activation of real-time purchase alerts and the use of two-factor authentication to bolster personal account security.