Don’t Scan a Scam!

What is QR Code ?

A QR code (Quick Response Code) is a sort of matrix barcode (or two-dimensional barcode). A barcode is an optical label that can be read by machines and contains information about the item to which it is attached. In reality, QR codes frequently include information for a location, identifier, or tracker that leads to a website or application. To store data effectively, a QR code employs four specified encoding modes (numeric, alphanumeric, byte/binary, and kanji); extensions may also be utilized. A QR code is made up of black squares placed in a square grid on a white backdrop that can be read by an imaging device such as a camera and processed using Reed–Solomon error correction until the picture can be properly comprehended. The relevant data is then retrieved from patterns present in both the horizontal and vertical components of the picture.

QR Code Scam

QR code scanning simplifies payments, but it also introduces new issues. Pay by scanning the QR code while QR codes have developed as a simple tool to advertise contactless technology, customers are unaware of how to recognize a fake one. QR code fraud is the act of tricking someone into scanning a harmful QR code in order to steal their data or money. The QR code frequently directs the scanner to a harmful website, where they are either encouraged to provide personal information or face the risk of viruses and other malware. QR code scams come in a variety of flavours, including those using Bitcoin and other cryptocurrencies.

Is it possible for someone to take my money using a QR code?

?Sadly, fraudsters may use QR codes to steal your hard-earned money in a variety of ways. Many QR scams attempt to persuade you to send money directly to fraudsters. A fraudster, for example, may approach you about bogus investment possibilities and urge you to transmit Bitcoin via a QR code. They may also request that you scan a QR code to assist them in paying for parking.

What Is QR Code Fraud? - QR Scams of various types

The purpose of QR code fraud is almost always the same: to direct you to a page where thieves may steal your data, money, or both. However, thieves may accomplish this in a variety of ways.

Phishing with QR codes: "a contemporary classic"

You've most likely heard of phishing. A cybercriminal will act as someone you know or trust in a phishing attack in order to get your data. Phishing assaults are often carried out via emails, phone calls, or social media. QR codes are increasingly being used by cybercriminals. Fraudsters may send you an email, pamphlet, letter, or social media post including a QR code. Scanning it will take you to a screen where you must enter your personal information or login credentials. The requested information may contain sensitive information, such as your online banking information. If you enter this information, it will be sent directly to the attacker, who may do anything they want with it. "Phishing QR codes" frequently link to bogus websites that look to belong to significant and reputable firms. QR code phishers, like conventional phishers, frequently masquerade as workers of large and prominent organizations, such as banks and other financial institutions

A face-to-face QR scam for a stranger in need.

Face-to-face scams include someone approaching you in person with a clever explanation about why you need to scan a QR code. Criminals may approach victims and request assistance in paying for a parking place. They say that the victim may transfer money to their bank account by scanning a code. The crooks usually offer to return the money in cash. The victims have no idea that simply scanning this QR code, they are giving fraudsters access to their online banking information. Many people have lost hundreds of dollars as a result of this fraud. The victims have no idea that simply scanning this QR code, they are giving fraudsters access to their online banking information. Many people have lost hundreds of dollars as a result of this fraud. Because this fraud occurs in public locations, it is potentially dangerous to almost everyone. At the same time, it's one of the most difficult frauds to detect since many of us have difficulty saying "no" when asked for aid in person.

The strategy of the internet marketplace

QR-scammers may potentially approach you on online marketplaces. They may pretend they wish to buy the things you're selling and ask you to scan a QR code so they can ensure the funds are transferred to the right bank account. At least, that's what they tell you. What you're truly doing is providing fraudsters access to your bank account.

QR code viruses

A frequently asked question is, "Can I receive a virus through scanning a QR code?" You can, unfortunately. Cybercriminals may simply inject links to virus and malware-infected web pages into QR codes. As a result, your sensitive data may be compromised. In many situations, simply scanning the QR code is enough for the virus to cause harm. This is possible because certain websites initiate drive-by downloads of dangerous software when you visit them. The last thing you want is for a website that you visit through QR code to install a keylogger on your device. This sort of virus will record anything you input, even sensitive data.

QR payment fraud

Other sort of QR fraud involves tampering with QR codes or installing false codes in places where many online payments are made, such as petrol stations that accept payment by QR code. Criminals may even conceal authentic QR codes in order to trick more victims into utilising their codes instead. The trouble with this type of QR code fraud is that these codes appear in areas where authentic QR codes should be found. Criminals take advantage of the established mechanisms in place to line their own wallets. This is why it's crucial to be skeptical of every QR code you come across, whether you expected to see one or not.

Scams with QR codes in cryptocurrency (Bitcoin)

QR codes are also important in cryptocurrency and Bitcoin frauds. A QR code is used in many bitcoin transactions to transfer money. If the QR code you scan has been tampered with, it might cost you a lot of money.

How to Stay Safe from QR Code Scams

QR scams are becoming more deceitful, which is why it's critical to spot and avoid them. The foundation of avoiding QR frauds is to never scan a QR code you don't recognize. Aside from that, other particular precautions depend on the type of fraud you're (possibly) dealing with:

• If you get a suspicious message with a QR code that appears to have been sent by a significant organization, such as a bank, always contact the firm or institution directly to determine whether the message was sent by them.
• Remember that QR codes are often used to send money rather than receive it. If you are asked to scan a code in order to be paid, this is most certainly a fraud. You will be charged instead of getting the money. Worse, you may be providing crooks with access to your bank account.
• Install a reliable antivirus programme on your device. If you do happen to scan a malicious QR code, you'll be better protected against any potential virus.
• If you come across a QR code you don't trust but want to learn more about the business or product offered, try looking for information manually first and see if it checks out. Make sure you do not utilise any of the contact information included with the suspicious QR code.
• Don't be ashamed to refuse to scan a QR code for strangers in need. If you find it tough to say no, tell them you're in a rush.
• Avoid utilising QR codes to send Bitcoin and other cryptocurrencies. Of course, you may use a QR code to move cryptocurrency from your broker to your own wallet. Even so, using the standard address allows you to double-check before clicking "send."
• Check a fraud alert website or app on a regular basis to stay up to speed on new (QR code) scams. You may even assist others in staying secure by reporting any (possible) frauds you come across. We propose the Better Business Bureau's fraud alert tool, which is primarily focused towards North Americans.

What Should You Do If You Are a Victim of a QR Code Scam?

If you are a victim of QR code fraud and believe your bank account has been hacked, we highly advise you to take the following actions to reduce the damage:

1. Please contact your bank and request that your account be temporarily blocked. If not, the thieves who defrauded you may take every last penny from your account.
2. Run a virus check to ensure that the dangerous URL encoded in the QR code did not contain any malware.
3. Change your passwords if the QR code brought you to a phishing website where you entered personal information and passwords. If you used the same password for several accounts, change them all. To keep your accounts safe, use strong and unique passwords.
4. If you were solicited by a fraudster through a website, online marketplace, or app, report their username on that platform. Report the scam to a scam alert website, such as the Better Business Bureau's. This can help others avoid falling prey to the same scam.
5. Charge the crooks who duped you if at all feasible. Your best bet in this situation is to contact your local police department or a national cybercrime reporting centre.