Security News > 2020 > September > Facebook Small Business Grants Spark Identity-Theft Scam

Cybercriminals are exploiting a $100 million Facebook grant program designed for small businesses impacted by the pandemic, to phish personal information and take over Facebook accounts.

They pointed out that there is in fact, a real CNBC article about coronavirus-related Facebook grants, but the legitimate program is for small businesses, not individuals.

"The collected information allowed the scammers to gain access of their victims' Facebook accounts, which they could use to pull off other crimes, including identity theft."

Once the information is submitted, the crooks log into the victim's Facebook account and then try to message friends or leave postings that ultimately are aimed at extracting money from them.

"Facebook accounts can be used to scam victims' friends and relatives directly or to promote further scam," Tushkanov said.

News URL

https://threatpost.com/facebook-small-biz-grants-identity-theft-scam/159681/