• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Jobs
  • Career
    • Cyber Security Training
    • Work from Home
    • Cyber Security Analyst
    • Remote Work – Six Ways to Keep Your Data Safe When Working Remotely
  • Field Guide
  • Newsletter Signup
  • Deals
  • News
AskCyberSecurity.com

AskCyberSecurity.com

Cyber Security News & Information

  • Home
  • Data Privacy
    • Gamers
    • Government Cyber Security
      • Legislation
      • Standards
        • What are the risks of computer security?
        • Medical Cyber Security
    • Social Media
  • Security
    • Data Breaches
    • Scams
    • Malware
  • Software
    • Apps
    • Web Browsers
  • Glossary
    • Cyber Security Acronyms
  • About Ask Cyber Security
    • Authors
    • Contact Us
  • VPN
    • How Do I Know If My VPN is Working?
    • Best Free VPN iPhone
    • Why Use a VPN?
    • NordVPN vs IPVanish
    • Private Internet Access Download
    • Best VPN for Streaming
      • TikTok VPN
    • VPN Porn
    • Computer Security Software – What You Really Need
  • Tutorials
  • ChatGPT
    • Does ChatGPT Save Data?
AskCyber Home » News » News » Phishing Attacks Disguised as SBA Loans

Phishing Attacks Disguised as SBA Loans

2020-08-10 by Michelle Dvorak

SBA Phishing Attacks

Latest Fake SBA Loan Phishing Attack Steals Banking Credentials

Threat actors continue to use impersonate the US Small Business Administration (SBA) in attempts to steal from business owners during the pandemic. The first SBA email phishing campaign launched in April, right at the beginning of COVID-19 shutdown. Another variation of an SBA phishing campaign began this month with an even more complex and hard to detect scheme.

The SBA phishing attacks attempt to infect computers with malware, steal credentials and steal money. All three use a spoofed SBA email address.

GuLoader Malware SBA Loan Scam

In April, an early SBA loan phishing campaign was launched by threat actors at the start of COVID-19 business shutdowns. These emails included malicious attachments with names like “SBA_Disaster_Application_Confirmation_Documents_COVID_Relief.img.” If the recipient opened the email attachment it launched GuLoader which is malware used to infect a device with more malware.

This one is a straight-forward attack using a spoofed SBA email address that compromises machines with malware if the reader is not vigilant.

“Most people aren’t aware of email spoofing and believe that if the sender’s email matches that of a legitimate organization, it must be real. Unfortunately, that is not the case, and there are additional checks that need to be performed to confirm the authenticity of a sender.” Says the report by Malwarebytes

SBA Phishing Campaign
SBA Scam (Image: Malwarebytes)

Basic SBA Phishing Scam

In a more recent SBA loan themed scam, threat actors send phishing emails in an attempt to steal sensitive information from victims. These emails were well designed to look like they are actual SBA communications.

To the casual reader it seems like these could be legitimate emails as they also spoof an SBA email address. The reader is informed their loan application is approved and that they need to review some documents. If the user clicks on the button in the email to “review” their fake documents, their credentials are stolen by a spoofed webpage.

In some instances, some of the targets of this scam had nothing to do with US Small Business Association loans.

Malwarebytes also protects against phishing emails and malware by blocking the tools used by hackers and scammers.

SBA Phishing
SBA Phishing (Image: Malwarebytes)

Complicated SBA Phishing Scam

The latest SBA phishing scam began in early August and is rather difficult to detect according to Malwarebytes. The email again appears to come from a legitimate SBA email account , but it does not. If you examine the email headers, it’s possible to see that the email is not legitimate. The average person does not know how to do this, unfortunately.

In this phishing campaign, the emails contain an attachment disguised as an SBA loan application. The malicious .pdf attachment uses SBA branding and wording making it look legit. The reader is promoted to fill it out and send it back by replying to the original email.

At this point, the spoofed reply-to email address [ @gov-sba[.]us. Address] is revealed and it is obvious the application is fraudulent.

The malicious pdf attachment asks the user for highly sensitive information, like bank account details. Some of the scams prompted the reader to pay fees to fund their SBA Economic Injury Disaster Loans (EIDL).

SBA Phishing Campaign
SBA Phishing Campaign (Image: Malwarebytes)

Tips to protect yourself against phishing emails

  • Always be extra cautious when asked to fill out any online form
  • Be suspicious of any email that prompts you today bulge sensitive information whether it is in an online form, a reply email, or on a website
  • Never download an email attachment if you were not expecting one from someone you know. In the case of the SBA loans, recipients should call the SBA using the phone number on their legitimate website (not a number contained in the scam email) to verify that the SBA did indeed send the request
  • Never, ever send bank account information, payment card numbers, or any other sensitive information in an email – regardless of who asked for it – legitimate or not. Email is not secure
  • Email addresses can easily be spoofed to trick the recipient into thinking they are legitimate. Use an antivirus or malware program to protect your email, phone, and computer against hackers
  • COVID-19 related SBA loans to do require a fee to fund the loan

Filed Under: News Tagged With: SBA

About Michelle Dvorak

Michelle writes about cyber security, data privacy focusing on social media privacy as well as how to protect your IoT devices. She has worked in internet technology for over 20 years and owns METRONY, LLC. Michelle earned a B.S. in Engineering from Rensselaer Polytechnic Institute. Michelle published a guide to Cyber Security for Business Travelers


LinkedInTwitterFacebook

Primary Sidebar

Subscribe to Our Free Newsletter

We Don't Share or Sell Your Info

Web Browsers

Where Are My Saved Passwords in Chrome?

Google Removes 70 Malicious Browser Add-ons from Chrome Web Store

Firefox 75 Reports Your Browser Settings to Mozilla

Categories

Cyber Security Field Guide

Computer Security While TravelingGet Our Cyber Security Field Guide - Available on Amazon!

Recent Posts

Security Marketing Manager – Remote

Sr. Associate, Cybersecurity Architect – Pfizer

Strategic Customer Success Manager – Cybersecurity – Opportunity for Working Remotely

Top 20 Passwords Leaked on Dark Web

ISU Cybersecurity Leader Job Opening

Cyber Security News

Top 20 Passwords Leaked on Dark Web

… [Read More...] about Top 20 Passwords Leaked on Dark Web

Apple Warns of Actively Exploited Zero-Day Flaw

… [Read More...] about Apple Warns of Actively Exploited Zero-Day Flaw

IRS Stops Facial Recognition System for Online Access

… [Read More...] about IRS Stops Facial Recognition System for Online Access

National Cybersecurity Alliance Announces Data Privacy Week

… [Read More...] about National Cybersecurity Alliance Announces Data Privacy Week

More Cyber Security News

Tags

amazon Android Apple bitcoin China chrome CISA credit card DarkSide DHS DOJ Equifax Europe Facebook facial recognition FBI Firefox FTC games GDPR Google Government hacker identity theft India iPhone Iran IRS LinkedIn Microsoft North Korea PayPal phishing phishing email ransomware REvil Russia smartphone T-Mobile TikTok tutorial VPN WhatsApp WiFi Windows

Government

CBP Looks to Access Airline Passenger Data

FTC Releases Cyber Threat Video Playlist

Malware Found on US Government Funded Phones

UK NCA Reaches Out to Youth to Deter Cybercrimes

More Posts from this Category

Footer

Menu

  • Home
  • About
  • Authors
  • Newsletter Signup
  • PRIVACY POLICY

Search

Why Use a VPN?

NordVPN vs IPVanish VPN Review

NAVIGATION

  • Data Breaches
  • Data Privacy
  • Gamers
  • Scams
  • Malware

MEMBER NJCCIC

New Jersey Cybersecurity & Communications Integration Cell

STAY CONNECTED

  • Facebook
  • Instagram
  • Pinterest
  • YouTube
  • Twitter
  • RSS

Copyright © 2023 · AskCyberSecurity.com · METRONY, LLC

Go to mobile version