How to identify fraudulent schemes like "IMF Grant Program" scam
Written by Tomas Meskauskas on (updated)
What kind of scam is the fake "IMF Grant Program"?
We have scrutinized the email, and it became evident that it is a fraudulent scheme designed to deceive recipients into believing they have been awarded a substantial sum of money. These types of scams are commonly referred to as "lottery scams" or "advance fee scams". Recipients should not respond to such emails to avoid potential risks (e.g., monetary loss).
More about the "IMF Grant Program" scam email
The email presents itself as an official communication from the International Monetary Fund (IMF), claiming that the recipient has been selected as the winner of the IMF Grant Program and is entitled to a substantial sum of $800,000. The message employs persuasive language, emphasizing the grant's transformative potential and urging the recipient to envision the positive impact they could make with the money.
It includes a reference number for the grant and provides contact details for a supposed Chief Financial Officer, Sir Harvey Sherman, whom recipients are instructed to contact to claim their prize. However, this email exhibits several hallmarks of a classic scam.
First, it employs a sense of urgency and excitement to encourage the recipient to act quickly without critically assessing the offer's legitimacy. Second, it requests personal contact via email or WhatsApp rather than providing official IMF channels of communication. Third, the email contains grammatical errors and inconsistencies, which are common red flags in scam emails.
Overall, while the promise of a large sum of money may be enticing, recipients should exercise caution and skepticism when encountering unsolicited messages like this. They usually turn out to be fraudulent schemes aimed at extracting personal information or money from unsuspecting individuals.
Name | IMF Grant Program Email Scam |
Threat Type | Phishing, Scam, Social Engineering, Fraud |
Fake Claim | The recipient has won $800,000.00 |
Disguise | Letter from The IMF Grant Program Team |
Symptoms | Unauthorized online purchases, changed online account passwords, identity theft, illegal access of the computer. |
Distribution methods | Deceptive emails, rogue online pop-up ads, search engine poisoning techniques, misspelled domains. |
Damage | Loss of sensitive private information, monetary loss, identity theft. |
Malware Removal (Windows) | To eliminate possible malware infections, scan your computer with legitimate antivirus software. Our security researchers recommend using Combo Cleaner. |
Similar scam emails in general
Scams of this type typically promise large rewards without prior participation, create urgency, request personal information or upfront payments, originate from unfamiliar sources, and aim to exploit individuals' trust for personal gain.
The purpose of such scams is to deceive individuals into providing personal information (e.g., ID card information or credit card details) or money to the scammers. It is also important to know that such emails can contain files or links crafted to deliver malware.
Examples of similar scams are "Giveaway Of Lottery Winnings Email Scam", "Abandoned ATM Master Card Email Scam", "Overseas Partner Email Scam".
How do spam campaigns infect computers?
Malicious software frequently infiltrates systems via email attachments that usually are executable files, Microsoft Office documents, PDFs, JavaScript files, and compressed archives. When users unwittingly open these attachments (or the files contained within them) and execute malware, they inadvertently trigger computer infections.
Links in emails can also be used to trick users into infecting computers by leading recipients to malicious websites. There, individuals may inadvertently trigger drive-by downloads or be manipulated into downloading files that appear harmless but contain malicious content.
How to avoid installation of malware?
Be careful when dealing with email attachments or clicking on links, especially if they appear unsolicited or irrelevant, particularly from unfamiliar or questionable/suspicious addresses. Regularly update your operating system, installed programs, and security tools.
Utilize reputable sources such as official websites and trusted app stores when downloading applications and files. Be sceptical when encountering pop-ups, advertisements, or buttons on suspicious websites, and avoid using pirated software or cracking tools. Additionally, perform routine scans on your computer to detect and remove threats that may be present.
If you have already opened malicious attachments, we recommend running a scan with Combo Cleaner Antivirus for Windows to automatically eliminate infiltrated malware.
Text presented in the "IMF Grant Program" email letter:
Subject: Congratulations! You've Won $ The IMF Grant Program!
Hello,
Winning Recipient -
We are thrilled to announce that you have been selected as the winner of the prestigious IMF Grant program, and you are the lucky recipient of an astounding $800,000.00 USD!
Your Path to Financial Freedom Starts Here!Imagine what you could do with this life-changing grant. Whether you dream of starting a business, pursuing higher education, or supporting a cause close to your heart, this grant is your ticket to achieving your goals and making a real impact in the world.
Your Grant Reference No: IMF/800GR9202WRE0/2024
What's Next?To claim your well-deserved prize and kickstart your journey to financial freedom, Don't miss out on this incredible opportunity to turn your dreams into reality!
[Claim Your $800,000.00 USD Grant Now]Contact Sir Harvey Sherman (CFO) on WhatsApp: +44 7242 604740 or Email: sirharveyshermanimf@financier.com
Congratulations once again on this amazing achievement! We can't wait to see how you will make a difference with your grant.
Best wishes,
The IMF Grant Program Team
Karina Okajima
Executive Assistant
INTERNATIONAL MONETARY FUND (IMF)
700 1 Westfield Avenue, Stratford,
London. E20 1HZ, UK
© 2024 INTERNATIONAL MONETARY FUND. ALL RIGHTS RESERVED.
Instant automatic malware removal:
Manual threat removal might be a lengthy and complicated process that requires advanced IT skills. Combo Cleaner is a professional automatic malware removal tool that is recommended to get rid of malware. Download it by clicking the button below:
▼ DOWNLOAD Combo Cleaner
By downloading any software listed on this website you agree to our Privacy Policy and Terms of Use. To use full-featured product, you have to purchase a license for Combo Cleaner. 7 days free trial available. Combo Cleaner is owned and operated by Rcs Lt, the parent company of PCRisk.com read more.
Quick menu:
- What is IMF Grant Program fake lottery winning notification?
- Types of malicious emails.
- How to spot a malicious email?
- What to do if you fell for an email scam?
Types of malicious emails:
Phishing Emails
Most commonly, cybercriminals use deceptive emails to trick Internet users into giving away their sensitive private information, for example, login information for various online services, email accounts, or online banking information.
Such attacks are called phishing. In a phishing attack, cybercriminals usually send an email message with some popular service logo (for example, Microsoft, DHL, Amazon, Netflix), create urgency (wrong shipping address, expired password, etc.), and place a link which they hope their potential victims will click on.
After clicking the link presented in such email message, victims are redirected to a fake website that looks identical or extremely similar to the original one. Victims are then asked to enter their password, credit card details, or some other information that gets stolen by cybercriminals.
Emails with Malicious Attachments
Another popular attack vector is email spam with malicious attachments that infect users' computers with malware. Malicious attachments usually carry trojans that are capable of stealing passwords, banking information, and other sensitive information.
In such attacks, cybercriminals' main goal is to trick their potential victims into opening an infected email attachment. To achieve this goal, email messages usually talk about recently received invoices, faxes, or voice messages.
If a potential victim falls for the lure and opens the attachment, their computers get infected, and cybercriminals can collect a lot of sensitive information.
While it's a more complicated method to steal personal information (spam filters and antivirus programs usually detect such attempts), if successful, cybercriminals can get a much wider array of data and can collect information for a long period of time.
Sextortion Emails
This is a type of phishing. In this case, users receive an email claiming that a cybercriminal could access the webcam of the potential victim and has a video recording of one's masturbation.
To get rid of the video, victims are asked to pay a ransom (usually using Bitcoin or another cryptocurrency). Nevertheless, all of these claims are false - users who receive such emails should ignore and delete them.
How to spot a malicious email?
While cyber criminals try to make their lure emails look trustworthy, here are some things that you should look for when trying to spot a phishing email:
- Check the sender's ("from") email address: Hover your mouse over the "from" address and check if it's legitimate. For example, if you received an email from Microsoft, be sure to check if the email address is @microsoft.com and not something suspicious like @m1crosoft.com, @microsfot.com, @account-security-noreply.com, etc.
- Check for generic greetings: If the greeting in the email is "Dear user", "Dear @youremail.com", "Dear valued customer", this should raise suspiciousness. Most commonly, companies call you by your name. Lack of this information could signal a phishing attempt.
- Check the links in the email: Hover your mouse over the link presented in the email, if the link that appears seems suspicious, don't click it. For example, if you received an email from Microsoft and the link in the email shows that it will go to firebasestorage.googleapis.com/v0... you shouldn't trust it. It's best not to click any links in the emails but to visit the company website that sent you the email in the first place.
- Don't blindly trust email attachments: Most commonly, legitimate companies will ask you to log in to their website and to view any documents there; if you received an email with an attachment, it's a good idea to scan it with an antivirus application. Infected email attachments are a common attack vector used by cybercriminals.
To minimise the risk of opening phishing and malicious emails we recommend using Combo Cleaner Antivirus for Windows.
Example of a spam email:
What to do if you fell for an email scam?
- If you clicked on a link in a phishing email and entered your password - be sure to change your password as soon as possible. Usually, cybercriminals collect stolen credentials and then sell them to other groups that use them for malicious purposes. If you change your password in a timely manner, there's a chance that criminals won't have enough time to do any damage.
- If you entered your credit card information - contact your bank as soon as possible and explain the situation. There's a good chance that you will need to cancel your compromised credit card and get a new one.
- If you see any signs of identity theft - you should immediately contact the Federal Trade Commission. This institution will collect information about your situation and create a personal recovery plan.
- If you opened a malicious attachment - your computer is probably infected, you should scan it with a reputable antivirus application. For this purpose, we recommend using Combo Cleaner Antivirus for Windows.
- Help other Internet users - report phishing emails to Anti-Phishing Working Group, FBI’s Internet Crime Complaint Center, National Fraud Information Center and U.S. Department of Justice.
Frequently Asked Questions (FAQ)
Why did I receive this email?
Scammers often send out mass emails in the hopes of reaching as many people as possible, regardless of whether or not they have any personal connection to the recipients.
I have provided my personal information when tricked by this email, what should I do?
If you have disclosed any account credentials, change all associated passwords. If you have shared other personal information, such as credit card details or ID card information, promptly contact the relevant authorities or institutions to report the incident and take necessary precautions. Time is of the essence in mitigating potential risks and safeguarding sensitive data.
I have downloaded and opened a malicious file attached to an email, is my computer infected?
The risk of your computer being infected depends on the type of file you engage with. Executable files (.exe) or script files (.js, .vbs) infected with malware carry a significant risk when activated, whereas document or multimedia files typically entail a lower risk of infection.
I have sent cryptocurrency to the address presented in such email, can I get my money back?
Unfortunately, cryptocurrency transactions are irreversible by design, which means that once you have sent funds to a particular address, it is unlikely that you will be able to recover them.
I have read the email but did not open the attachment, is my computer infected?
If you have received a suspicious email but have not opened any attachments or clicked on any links within it, your computer is not infected.
Will Combo Cleaner remove malware infections that were present in email attachment?
Absolutely, Combo Cleaner has the ability to identify and remove nearly all known malware infections. It is crucial to remember that advanced malware tends to embed itself deeply within the system. As a result, conducting a full system scan is imperative to ensure the removal of any concealed threats.
▼ Show Discussion