Scareware is the Biggest Internet Scam of 2010

Scareware is fake security, like anti-virus, programs that use fake reports about viruses to trick the user and force him to pay money for the "upgrade" of this hoax program. Scareware programs use colorful and convincing design to confuse the user that he or she has malware on the computer and the only way to get rid of it is to pay cash. You can read more about these types of programs in my previous article.

McAfee announced that scareware is probably the biggest Internet scam of 2010 which done a lot of damages and costs. Experts believe that people, operating and producing these types of programs, make about $300 million from users per year worldwide. McAfee states that it had seen a rise of these programs in nearly 660 per cent. User reports of these incidents had also increased by 400 per cent over the last year.

Scareware usually starts with a fancy warning screen. Then, the scam program warns the user that there are viruses or trojans horses on his computer. This hoax program offers the user to get rid of these viruses for a certain fee. A confused user can send the money to scammers at his will. This is how scareware works.

McAfee states that these criminals, operating scareware programs, have become so persistent and sophisticated that even advanced and protective users fall into their traps. This type of niche is very profitable for cybercriminals because, not only they are able to trick the user to pay for their fake programs, but they are able to steal bank accounts with passwords via their malware that comes with these "security" programs.

McAfee Security has launched a Consumer Threat Alerts program in order to inform users directly about the latest online threats. The company states that this way, users will be able to receive email alerts about the treats via subscription. They will also receive instructions how to remove scareware programs and how to protect themselves.

All in all, scareware is a new scam, launched by cybercriminals, which does a lot of damage financially and morally. With the right education users can learn about these types of scams and successfully avoid them. Source: McAfee.com