The US-based Silicon Valley Bank (SVB) recently shut down due to failure to meet its financial obligations. This collapse has caused public panic, and unfortunately, like all major news events, cybercriminals take advantage of high-profile news stories to catch your attention and manipulate your emotions. Cybercriminals will use every tool in their arsenal to prey on you. Everything from tornados to mass shootings, they will take advantage of your humanity and sympathies to solicit your information or money.

In the coming weeks, we expect to see cybercriminals referencing the collapse of SVB and exploiting the coverage of the mass shooting in Nashville through phishing attacks and disinformation campaigns. Cybercriminals are already taking advantage of this event to try to steal your sensitive information. For example, cybercriminals may send you emails offering money or financial advice in response to the bank’s failure or request you contribute to relief funds. These emails may appear to come from trusted financial services or agencies, but interacting with these emails can lead to cybercriminals obtaining your banking information or funds. 

Follow the tips below to stay safe from similar scams:

• Always think before you click. Cyberattacks are designed to catch you off guard and trigger you to click impulsively. 
• Watch out for sensational or shocking headlines. These headlines can lead to articles that contain disinformation or false information designed to mislead you. 
• Be cautious of unexpected payout opportunities. Remember, if something seems too good to be true, it probably is!