Cyber Scams & Fraud to Watch in 2026

Fraud is not new to the business world or to individual computer users, but fraudulent activity and scams, whether they are delivered via email, phone, or text, are becoming increasingly sophisticated, making them more challenging than ever to stay ahead of. Each year, individuals and organizations fall victim to cyber crimes and scams that could have been avoided with prior warning or knowledge. Understanding the changing fraud landscape and how scams continue to evolve can help protect your sensitive business information and financial assets. Let’s explore some of the more popular fraudulent scams currently in circulation and review how you and your family or workforce can avoid them.

Phishing Scams

Phishing is widely considered the most common cyber threat because it serves as the entry point for many other attacks, such as malware and ransomware. While not always resulting in the most significant losses, its prevalence is exceptionally high: over 90% of cyberattacks begin with a phishing attempt. Called many things, such as smishing, vishing, and quishing, phishing scams take many forms. For instance, text message phishing is often referred to as smishing, while phone calls are vishing and QR codes that lead to malicious sites are called quishing. Scammers can replace legitimate QR codes with their own. An unsuspecting user could scan them, which may lead to phishing sites or malicious apps. All of these phishing forms have the common goal of gaining your sensitive business or personal information.

Pro Tip:

Do not click on suspicious links that are misspelled or have odd headings. Avoid clicking links in unsolicited emails or texts. Go directly to the company's official website instead.

AI Fraud

The American public is using AI on a daily basis to help create, analyze and make work easier and more efficient. However, scammers are also using AI in increasingly sophisticated ways to create and perpetrate online fraud. AI is making fraud sound and look more real through deepfakes and AI-enabled voice cloning. Using AI-enabled voice cloning, scammers use the technology to mimic the voice of someone the victim knows, like a family member, boss or coworker, to request funds for a fake emergency. Deepfakes are similar in that they create realistic AI-generated videos or audio of a person the victim knows and trusts to trick them into transferring funds or sensitive information.

Pro Tip:

To avoid being duped by artificial intelligence, stop and think before trusting emails, calls or texts that raise red flags. If you doubt the authenticity of an individual's access or of a fund transfer, stop and verify identities using trusted sources and reverse search tools.

Banking Scams

Though an "old" scam, banking scams remain a common tactic for cybercriminals. This scam involves fraudsters contacting people by phone, text, or email, posing as representatives of a financial institution. They create a sense of urgency, pressuring the victim to share personal information or act quickly. For businesses, the risk can be even higher when fraudsters use these tactics to trick staff into releasing sensitive financial data.

Pro Tip:

Always verify financial requests independently. If a financial institution calls, texts or emails claiming to urgently need information that you deem sensitive or private, call them directly using a number you know is correct.

One-time Passcode Scams

One-time passcode (OTP) scams are designed to trick individuals into revealing a temporary security code to gain unauthorized access to their accounts. Scammers use social engineering tactics, such as phishing emails, fake phone calls, or urgent-sounding messages, to impersonate legitimate companies. This creates a false sense of urgency, pressuring victims to provide the OTP, which criminals then use to log in and steal money, personal data, or make unauthorized transactions.

Pro Tip:

To avoid this type of scam, never share your one-time passcode. Treat it like a password and never share it with anyone, no matter who they claim to be. A legitimate company will not call or email you out of the blue to ask for your OTP. They will only ask for it when you, the customer, initiate the contact.

Take Steps to Protect Your Business

Save your business time and money by proactively addressing these scams in the new year. Encourage your workforce to use strong, unique passwords and multi-factor authentication (MFA). The two-factor or multi-factor authentication security feature adds an extra layer of protection to your accounts. Additionally, if your employee encounters an email, text, or call that seems suspicious, always verify with the source using a known phone number or contact source. Never rush to share information just because it's an emergency. That is when mistakes are made, and data is lost. Regular training can also help your organization avoid accidentally clicking links in unsolicited emails or texts. Awareness is the best way to stay safe. Rather than clicking an unknown link, go directly to the company's official website. Need to know more about the cybersecurity threats on the horizon? Follow our monthly blogs or reach out to the Spectra Networks team with your questions, comments, or concerns. We are happy to assist in answering your questions.