How Apple and Microsoft’s trusted brands are being used to scam you online

Published

4 months ago

September 25, 2024

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No, it’s not really Apple or Microsoft popping up on your screen to tell you your computer has been infected.

It’s scammers trying to convince you to call them and divulge sensitive information, which may include passwords, bank or credit account information or Social Security numbers.

“They use the reputation of the brand [for legitimacy purposes] to make it seem more real,” said Cliff Steinhauer, director of information security and engagement at The National Cybersecurity Alliance. “Because, who doesn’t know Microsoft or Apple as a brand?”

Consumers are likely to see more of these types of scams now, in the wake of Apple’s recent release of its new iPhone. There tends to be a rise in scams when a new product or version is released because it’s easier for scammers taking advantage of news headlines to strike while the iron is hot, said Nati Tal, head of Guardio Labs, which identifies, monitors and mitigates internet security threats. “In a very small time period, they will get tons and tons of potential victims.”

The scams can affect anyone, but as has been the case with other recent tech-linked consumer crime waves, such as bitcoin ATM fraud, the elderly are especially vulnerable. Last year, nearly 18,000 victims aged 60 and over reported tech support scams to the FBI’s Internet Crime Complaint Center, making it the most widely reported kind of elder fraud in 2023. Fraud losses from tech support scams against the elderly amounted to $590 million of losses — and that’s only reported cases.

These types of scams are getting even harder to spot because of AI, especially when the scheme uses a known company logo to make it look legit. Here’s what people should know to protect themselves from scams targeting commonly used, trusted tech brands:

Never assume any online ad is authentic

People can be duped in a number of ways. One way is malvertising, in which bad actors pay for ads on search engines like Google or Microsoft’s Bing. These rogue ads can appear as sponsored content, or in small print as an ad, during a search engine query.

So, for example, a consumer searching for “Microsoft support” might be shown a fake Microsoft ad with a number to call. By calling this number, people are playing right into scammers’ hands, according to Malwarebytes, which has identified a number of these schemes. Malwarebytes also uncovered a malicious ad campaign targeting Mac users looking for support or extended warranty from Apple.

“People have all sorts of issues with their computers and they look for help, but a lot of the time the numbers they find will be a scammer’s number, not the real one,” said Jérôme Segura, senior director of research at Malwarebytes.

Pop-ups, emails from brands you know are often suspect

Tech scams also ensnare unsuspecting consumers through phishing emails for renewal offers that seem to come from legit places, including Microsoft, McAfee, PayPal and Norton. These emails could be laced with malware if users click on a link, or they could be phishing attempts to get more information from the individual. Sometimes simply opening the attachment could infect a consumer’s computer with malware.

The other type of tech-support scam happens when a window pops up on a user’s computer to warn of an “infection.”

There’s often audio associated with this type of scam to instill a sense of urgency for consumers to call the number listed in the pop-up. There may also be a button that says “return to safety,” but when clicked, what was a regular browser window — with the address bar and window title visible — becomes a full-screen page, with a message about not rebooting the computer because it’s infected, Segura said.

“Imagine being the user and hearing the non-stop audio playing in the background saying your computer is compromised. This is very stressful and it will lead people to make a bad decision in calling the fake phone number,” he said.

Once people call, they often are manipulated into sharing personal information such as their credit card number or giving scammers access to their computer.

How to click without getting into online trouble

For starters, consumers should avoid clicking on sponsored ads obtained during a Google or Bing query. (Hint: These often appear at the top of the search results page, but they can also appear further down, so look out for the word “sponsored” or “ad” depending on the search engine.) Consumers should also avoid clicking on random links sent in an email, even if they think they know the sender. And don’t open attachments unless you’re sure you know what’s being sent.

In the case of a pop-up warning of a computer virus, Segura said the general rule is to only click on the browser’s own icons which are typically at the very top right corner. “Never click on any other ‘X’ within the web page itself, as it is fake,” he said.

If people do click on the X or have clicked on “return to safety,” the webpage will likely go into full-screen mode. “If that happens, you must first exit out of full screen by long pressing on the keyboard’s escape button (Esc) and only then can you finally X out,” Segura said.

Internet browsers come with basic protections, so be sure to keep your browsers updated. You might also want to install a free, or paid-protection service that covers multiple types of threats.

What to do if you fall for a tech scam

Next steps depend on the type of information you shared with scammers. If, for instance, you called a number for “Microsoft” or “Apple” and gave usernames and passwords, change those. If you only shared your name, address and phone number, it’s not necessary to do anything because this information is readily available to scammers through data brokers, Jim Routh, chief trust officer at identity security company Saviynt, explained in an email.

Consumers who share their credit card number, expiration date and CVV, should call their credit card company’s fraud line to report the incident and request a new credit card be overnighted.

If credentials are shared with the fraudster for other online accounts, the password for each should be immediately changed. It’s also advisable for consumers to freeze their credit with each of the three primary credit bureaus, Equifax, Experian and TransUnion. This is a good practice to do for your whole family and especially for children under 18, even in the absence of a particular threat. It’s also advisable to place a fraud alert with one of the credit bureaus, which will relay the information to all three.

People who are concerned they installed malware who don’t have anti-virus protection should choose a reputable brand and install it, Routh said. If they lack technical sophistication, they can call the Geek Squad or a similar service to scan the workstation and find the malware to remove. Consumers who have given remote computer access to scammers should bring their device to a service professional for assistance, he added.

Technology

Biden administration launches cybersecurity executive order

Published

2 hours ago

January 16, 2025

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US President Joe Biden, left, and Antony Blinken, US secretary of state, speak on the ceasefire deal between Israel and Hamas, in the Cross Hall of the White House in Washington, DC, US, on Wednesday, Jan. 15, 2025. Israel and Hamas agreed to a ceasefire deal, bringing at least a temporary halt to the war in Gaza that has killed tens of thousands of people in the last 15 months and touched off broader turmoil across the Middle East.

Aaron Schwartz | Sipa | Bloomberg | Getty Images

The Biden administration on Thursday announced an executive order on cybersecurity that imposes new standards for companies selling to the U.S. government and calls for greater disclosure from software providers.

The White House is looking to put in place new rules “to strengthen America’s digital foundations,” Anne Neuberger, deputy national security advisor for cybersecurity and emerging technology, said in a briefing with reporters on Wednesday.

Cyberattacks have caused an increasing number of disruptions inside federal agencies and companies in recent years.

Attackers have pulled off ransomware attacks at Change Healthcare, the operator of the Colonial Pipeline and the Ascension health care system. And Microsoft said in 2023 that Chinese attackers had broken into U.S. government officials’ email accounts, prompting a critical federal report and a series of changes at the software maker.

Companies selling software to the U.S. government will have to demonstrate that their development practices are secure, according to a statement. There will be “evidence that we post on a government website for all software users to benefit from,” Neuberger said.

The General Services Administration will have to make policy that makes cloud providers provide information to clients on how to operate securely.

Companies selling products and services to the U.S. government must adhere to a new set of security practices as a result of the executive order.

Last week the White House announced the U.S. Cyber Trust Mark label to help consumers evaluate internet-connected devices. The executive order states that the U.S. government will only purchase such products if they carry the label, starting in 2027.

The order also directs the National Institute for Standards and Technology to come up with guidance for handling software updates. In late 2020, hackers gained access to Microsoft and U.S. Defense Department systems by targeting updates to SolarWinds‘ Orion software.

It’s not clear if President-elect Donald Trump’s new administration will uphold the executive order. Biden’s cybersecurity officials have not met with those who will take up the work for Trump.

“We haven’t discussed, but we are very happy to, as soon as the incoming cyber team is named, of course, have any discussions during this final transition period,” Neuberger said.

WATCH: Fmr. CISA Director Chris Krebs on cyberthreats: Expect an increase of offensive cyber activity

Technology

TSMC net profit hits record high as fourth-quarter results top expectations on robust AI chip demand

Published

4 hours ago

January 16, 2025

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TSMC net profit hits record high as fourth-quarter results top expectations on robust AI chip demand

A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)

Amber Wang | Afp | Getty Images

Taiwan Semiconductor Manufacturing Company‘s fourth-quarter revenue and profit beat expectations, as demand for advanced chips used in artificial intelligence applications continued to surge.

Here are TSMC’s fourth-quarter results versus LSEG consensus estimates:

Net revenue: 868.46 billion New Taiwan dollars ($26.36 billion), vs. NT$850.08 billion expected
Net income: NT$374.68 billion, vs. NT$366.61 billion expected

TSMC profit rose 57% from a year earlier to a record high, while revenue jumped 38.8%. The firm had forecast fourth-quarter revenue between $26.1 billion and $26.9 billion.

As the world’s largest contract chip manufacturer TSMC produces advanced processors for clients such as Nvidia and Apple and has benefited from the megatrend in favor of AI.

TSMC’s high-performance computing division, which encompasses artificial intelligence and 5G applications, drove sales in the fourth quarter, contributing 53% of revenue. That HPC revenue was up 19% from the previous quarter.

“The surging demand for AI chips has exceeded expectations in Q4,” Brady Wang, associate director at Counterpoint Research told CNBC, adding that revenue was also bolstered by demand for the advanced chips in Apple’s latest iPhone 16 model.

The Taiwan-based company first released its December revenue last week, bringing its annual total to NT$ 2.9 trillion — a record-breaking year in sales since the company went public in 1994.

“We observed robust AI related demand from our customers throughout 2024,” Wendell Huang, chief financial officer and vice president at TSMC, said in an earnings call on Thursday, adding that revenue from AI accelerator products accounted for “close to a mid-teens percentage” of total revenue in 2024.

“Even after more than tripling in 2024, we forecast our revenue from AI accelerators to double in 2025 as a strong surge in AI-related demand continues as a key enabler of AI applications,” Huang added.

However, TSMC may face some headwinds in 2025 from U.S. restrictions on advanced semiconductor shipments to China and uncertainty surrounding the trade policy of President-elect Donald Trump.

TSMC Chairman and CEO C.C. Wei said the company will not attend Trump’s inauguration as its philosophy is to keep a low profile, Reuters reported.

Trump, who will assume office next week, has threatened to impose broad tariffs on imports and has previously accused Taiwan of “stealing” the U.S. chip business. .

Still, Counterpoint’s Wang forecasts 2025 to be another strong year for TSMC, with significant revenue growth fueled by strong and expanding demand for AI applications, both in diversity and volume.

Taiwan-listed shares of TSMC gained 81% in 2024 and were trading 3.75% higher on Thursday.

Stocks of European semiconductor companies trading on the Euronext Amsterdam Stock Exchange rose Thursday, with ASML up 3.5%, ASM International gaining 3.75% and Besi rising 5.1%.

Technology

Tesla is offering Cybertruck discounts as EV market gets crowded

Published

11 hours ago

January 16, 2025

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Tesla is offering Cybertruck discounts as EV market gets crowded

A soldier walks next to a Tesla Cybertruck, which was donated to the National Guard, after powerful winds fueling devastating wildfires in the Los Angeles area forced people to evacuate, in the Pacific Palisades neighborhood on the west side of Los Angeles, California, U.S. Jan. 13, 2025.

Daniel Cole | Reuters

Tesla started offering discounts on new Cybertruck vehicles in its inventory this week, according to listings on the company’s website.

Discounts are as high as $1,600 off new Cybertrucks, with the reduced price depending on configuration, and up to around $2,600 for demo versions of the trucks in inventory, the listings show. Production of the angular, unpainted steel pickups has reportedly slowed in recent weeks at Tesla’s factory in Austin, Texas.

Deliveries of the unconventional pickup began reaching customers in 2023. CEO Elon Musk originally unveiled the Cybertruck in 2019 and said it would cost around $40,000, but its base price in the U.S. was closer to $80,000 over the course of 2024.

Wall Street previously viewed the Cybertruck as an important driver of growth for Tesla’s core automotive sales.

While the Cybertruck outsold the Ford Lightning F-150 last year in the U.S. and became the fifth best-selling EV domestically, according to data tracked by Cox Automotive, its high price, repeat recalls and production issues in Austin hampered growth. In November, Tesla initiated its sixth recall in a year to replace defective drive inverters.

As CNBC previously reported, Tesla’s deliveries declined slightly year-over-year in 2024, even as EV demand worldwide reached a record. A slew of new competitive models from a wide range of automakers eroded Tesla’s market share.

According to Cox data, full-year EV sales reached an estimated 1.3 million in 2024 in the U.S., an increase of 7.3% from the prior year. But Tesla’s sales for the year declined by about 37,000 vehicles.

The Tesla Model Y SUV and Model 3 sedan ranked as the top two best-selling EVs by a wide margin. But both older, more affordable Tesla models saw sales drop from the previous year. Cox estimated Tesla sold around 38,965 Cybertrucks in the U.S. last year.

In recent days, Musk apologized to customers in California for delays in delivering their Cybertrucks. He said the trucks are now being used to bring supplies and wireless internet service to people in Los Angeles impacted by devastating wildfires.

“Apologies to those expecting Cybertruck deliveries in California over the next few days,” Musk wrote on X. “We need to use those trucks as mobile base stations to provide power to Starlink Internet terminals in areas of LA without connectivity. A new truck will be delivered end of week.”

WATCH: Here’s why Bank of America downgraded Tesla