The Tariff Crisis and its Cybersecurity Implications
Investment and e-commerce scams, as well as the entry of counterfeit products with embedded malware, are risks that could intensify.
The risk of fraud often increases in times of economic uncertainty. Cybercriminals take advantage of the celebration of major holidays and the occurrence of global events to launch their campaigns. There is every indication that they will also do so in the face of the current tariff war.
Security expert Roman Dedenok, who is part of Kaspersky’s Threat Research team, warns of three risks in particular.
The first is an increase in online shopping scams. As many products will become more expensive, scammers will create websites that look like those of legitimate brands or distribute mailers promoting ‘pre-tariff discounts’.
Consumers looking to buy cheaper could fall into the trap and end up handing over sensitive information, such as their financial data.
On the other hand, a disruption in the supply chain could force them to look for alternative suppliers. Depending on their urgency, consumers and even businesses will be susceptible to falling victim to impostors and unauthorised distributors by failing to carry out the necessary checks.
As a consequence, counterfeit products will enter the market. This includes computing devices with malware installed,
Third, uncertainty and a volatile market play into the hands of investment scams. Some will impersonate financial institutions and promise high returns based on insider information about tariffs. Phishing campaigns are also expected.
‘To help mitigate these risks,’ says Dedenok, ’consumers should verify the legitimacy of sellers before making purchases, use payment methods that offer protection against fraud, and be wary of offers that seem too good to be true.
‘Investors, for their part, should conduct thorough due diligence, use reliable sources of information and be sceptical of unsolicited offers that promise excessive returns,’ he adds.
‘In a changing economic environment,’ he concludes, ’increased vigilance is essential. Understanding these threats can help both consumers and investors to be better protected.
