Tokyo Olympics are taking place without spectators. EPA
Tokyo Olympics are taking place without spectators. EPA
Tokyo Olympics are taking place without spectators. EPA
Tokyo Olympics are taking place without spectators. EPA

Five ways that cyber criminals are setting sights on the Tokyo 2020 Olympics


Alkesh Sharma
  • English
  • Arabic

After an almost year-long delay, the Tokyo 2020 Olympic Games are taking place without spectators to stem the spread of the coronavirus.

From a cyber security perspective, the move has minimised chances of data theft by criminals who could exploit vulnerabilities within the public Wi-Fi networks in the stadiums.

However, industry experts urged greater caution as cyber criminals become more creative with ways to take advantage of unsuspecting sports fans.

In the past few weeks, online schemes to steal victims’ identities, confidential data and money were launched, Moscow-based cyber security firm Kaspersky said.

“Cyber criminals always use popular sports events as bait for their attacks … [they] have no limit when it comes to creating new ways to take advantage,” said Olga Svistunova, a security expert at Kaspersky.

“We discovered an interesting phishing page selling Olympics Games official [virtual currency] tokens … cyber criminals are not only faking existing bait but also coming up with their own sophisticated ideas.”

Phishing campaigns, one of the most common attacks, are usually designed to steal personal information.

The National looks at five tactics that cyber criminals are using to target Olympics followers.

Malicious live streams

Most spectators are following the Olympic Games online and relying on streaming websites. Kaspersky found phishing pages offering free streaming of the Games. They ask users to register before watching and collect their confidential details, which are sold in dark web to other criminals. Moreover, when users attempt to create accounts on these suspicious pages, they are directed to other malicious websites, too.

Selling counterfeit tickets

Despite a ban on spectators at this year's Games, fraudsters are trying a well-tested trick - selling fake tickets. Kaspersky said there are fake pages offering refunds for already purchased tickets.

Fake entities representing Tokyo Olympics

Pretending to be Olympics officials, cyber criminals are approaching businesses and individuals with sponsorship offerings. Kaspersky found a page masquerading an official website for the Games and a page mimicking the International Olympic Committee. These websites were created to collect personal and financial information.

Cyber criminals use popular sports events as bait for their attacks, experts said. Getty
Cyber criminals use popular sports events as bait for their attacks, experts said. Getty

Offering free gifts

There are many phishing pages offering users a chance to win a television that would be ideal for watching the Games.

“This is quite popular and, usually, each user becomes a lucky winner … with the chosen ones only needs to pay for delivery fee. No need to say, the TV never gets to the deceived user,” Kaspersky said.

Tokyo Olympics online tokens

Cyber researchers found the first fake online currency, which is purported to be used to support a fund for athletes participating in the Tokyo Olympics. If a user buys the token, the scammers offer to support talented sportsmen and woman in need.

What sports fans should do to avoid attacks

  • Сheck the link before clicking on it. Always look for misspellings or other irregularities.
  • Check the authenticity of websites before entering personal data and only use official webpages to watch the Games.
  • Use a reliable security solution that identifies malicious attachments and blocks phishing sites.
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The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
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June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket

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Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Date of birth: October 8, 1993

Place of birth: Caracas, Venezuela

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

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Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

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“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

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Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

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Updated: July 30, 2021, 5:30 AM