Financial Impact of the COVID-19 Phishing Scams Research

Hongkai Chen, Dr. Mohammad Hossain, and Dr. Sameer Abufardeh, Department of MST, University of Minnesota Crookston, 2900 University Ave, Crookston MN 56716

Phishing is a fraudulent attempt where phishers trick the victims into disclosing sensitive information under pretenses. During the COVID-19 pandemic, phishing is becoming a security issue more than ever. This research project aims to find out the financial impact of the COVID-19 Phishing Scams. Some agencies and government institutions have talked about various types of phishing scams during this pandemic and have discussed their security impacts on users. For instance, The Department of Homeland Security and Berkeley Information Security Office discussed SMS phishing and phishing email during the pandemic. However, few of these articles mentioned the impact of this phishing on our society, especially the financial impacts. Financial impact refers to how people and companies lose their money because of phishing scams. The pandemic has affected household finances as well as company finances. Researching the financial impact of phishing scams will help users avoid unnecessary financial losses. To find out the financial effect of COVID-19 phishing scams, we conducted searching news, security alerts, peer-reviewed articles, and conference papers related to COVID-19 phishing from IEEE Xplore, Scopus, ScienceDirect, SpringerLink, Gale, Ebsco, and Google Scholar databases. Since our goal is to identify the financial impact on individuals, small businesses, large businesses, and government organizations, we narrowed down our search by adding “individuals,” “businesses,” “government,” and “organizations” to further identify the relevant work for this study. After that, our next step will be to analyze these articles in depth and summarize the financial impact. The result of the analysis of articles and resources will be graphically presented and visualized so that the financial impact of COVID-19 phishing scams can be clearly observed. The outcome of this research is expected to show the financial impact in detail and provide a suggestive approach to prevent or minimize such impact.

Additional Abstract Information

Presenter: Hongkai Chen

Institution: University of Minnesota - Crookston

Type: Oral

Subject: Computer Science

Status: Approved

Time and Location

Session: Oral 6
Date/Time: Tue 2:00pm-3:00pm
Session Number: 611
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