Cybercrime and identity fraud: an Olympic challenge

By Grigory Yusupov, Regional Director UK and Rest of the World (ROW) at IDnow

The Paris 2024 Olympics is set to attract billions of spectators worldwide, with an estimated 16 million visitors expected to visit the host nation during the Games.

According to the organising committee, this figure will include more than 1.5 million foreign tourists, including 500,000 Britons.

Crime is projected to reach unprecedented levels during this period. The chief prosecutor of Paris recently issued urgent advice to prospective visitors, warning of a surge in criminal activities, including fraud schemes, such as fake tickets and online rental scams.

The influx of visitors on this scale will produce a vast volume of data and financial transactions that will create fertile ground for cybercriminals looking to scam people for illicit means.

It is crucial for businesses and the public to understand the potential cyber threats associated with the Games and possess the know-how to protect themselves against falling victim to fraud.

The games played by cybercriminals

Cybercriminals are expected to use a variety of tactics to exploit the frenzy around the Paris Olympics.

The fraud landscape ahead of the Games is vast. Historically, major events such as the Olympics have seen a spike in cybercrime activities. The summer’s events in Paris will be no different, with several fraud tactics likely to be deployed.

Identity theft remains a significant concern, particularly with the increase in commercial activities surrounding the Olympics. Fraudsters can target these transactions to steal personal information, which they can then use to commit fraud or sell the data on the dark web to other criminals.

Phishing scams – where criminals trick individuals into sharing sensitive information through fake emails or websites – are expected to surge. Social engineering tactics that promise last-minute tickets to the Games or exclusive access, or really anything that sounds too good to be true, will likely be prevalent in the coming summer months.

Social engineering and phishing attacks specifically often lead to ransomware incidents, where cybercriminals lock users out of their systems or data until a ransom is paid.

On the business side, Denial of Service (DoS) attacks aim to disrupt services by overwhelming them with traffic, potentially taking down ticketing systems, official Olympic websites, or even news portals. Disruptions of this kind can cause significant inconvenience and financial loss, especially when timely information and uninterrupted transactions are imperative.

Specific risks for visitors

The 1.5 million tourists travelling to the Games should be made aware of some of the specific fraud risks to be vigilant against.

Fake ticket websites are a perennial problem around major events. These sites often appear legitimate, luring unsuspecting fans into buying counterfeit tickets. Not only do victims lose money, but they also face disappointment when they realise their tickets are invalid.

With 16 million visitors expected in total, accommodation in Paris will be in high demand. Scammers will likely exploit this by creating fake rental listings or posing as legitimate property owners. Visitors need to be wary of any deals that seem too good to be true and always verify the legitimacy of ticket or accommodation providers.

It is crucial to promote no-holds-barred cybercrime awareness and vigilance to protect as many people as possible against financial and identity crime.

According to IDnow’s UK Fraud Awareness Report 2024, the vast majority (83%) of respondents claimed to know what phishing is, but more than half (54%) of Brits indicated that they do not know what social engineering is – even though phishing is a form of social engineering.

These statistics only paint the UK picture, but they tell a revealing story. Businesses should therefore play a central, proactive role in safeguarding their customers through robust education combined with thorough identity verification processes. Technology can only go far: it’s important to fight fraud from all angles.

Identity verification: the gold standard against cybercrime

As one of the central defenses against cybercrime, businesses must implement reliable and seamless online identity verification methods to protect individuals during the Paris Olympics. Enhanced identity verification processes will be essential to mitigate the risk of cybercrime at this ripe period for potential wrongdoing.

Integrating ID document verification and biometrics, including facial recognition, is central in combating fraud, since it is the most effective way of proving that someone is who they claim to be within an online transaction.

Overall, the aim should be to ensure that only legitimate transactions are processed, significantly reducing the risk of identity theft and other scams.

AI-driven technology can verify IDs quickly and accurately, ensuring that fraudsters are kept at bay with increasing speed and efficiency. By incorporating biometric verification, combined with human-assisted checks where needed, businesses can further ensure that the person presenting the ID is indeed the rightful owner.

The use of deepfake documents is increasingly on the rise by cybercriminals. However, in the UK, almost half (47%) of Brits do not know what deepfakes are at all. There is a gap between risk factors and knowledge that needs to be closed.

Fully automated biometric checks are incredibly effective in proving identities, but it’s also wise to have specially trained agents on hand to provide an added layer of security. This is particularly useful when checking the identities of people who might need extra support while going through biometric processes – for example, individuals with accessibility needs.

The Olympics, much like other major sporting events, often see a surge in gambling activities, making the global event a prime target for money laundering. Robust ID verification methods are also vital for anti-money-laundering (AML) endeavors.

Businesses can prevent money laundering activities and comply with regulatory requirements by confirming that all transactions are legitimate and that the individuals involved are properly verified and are not included on any PEP (Politically Exposed Persons) and Sanctions lists.

The Paris 2024 Olympics is a huge spectacle; a global event on a massive scale. With millions of visitors and a vast number of transactions taking place, there is potential for fraud to soar.

By helping individuals to understand the threats and implementing robust identity verification processes, individuals and businesses can protect themselves from falling victim to cybercriminals.

The advanced identity verification solutions on the market will be instrumental in safeguarding against these threats, to create a secure and enjoyable Olympic experience for all.

About the author

Grigory Yusupov is Regional Director UK and Rest of the World (ROW) at IDnow, the identity verification platform provider.

Article Topics

biometrics  |  digital identity  |  facial recognition  |  fraud prevention  |  IDnow  |  Olympics  |  secure transactions