Magni Reynir Sigurðsson, Senior Manager of Detection Technologies at Cyren, made the following comment regarding the recent warning from the FBI about cybercriminals using maliciously crafted QR codes to steal people’s credentials and financial information:

“QR codes are particularly appealing for cybercriminals who look to use them as part of their phishing campaigns, as they negate the need to include URLs or attachments that might get intercepted when scanned by the email gateway, meaning the attackers are much less likely to be detected. QR codes are also “mobile-friendly” increasing the odds that an unsuspecting victim will follow the malicious URL using a personal or otherwise unsecured device. 

These phishing campaigns work on the principle that the victim receives an email which includes a ‘required action’, such as updating or securing an account, or paying an outstanding delivery and therefore subsequently scans the contained QR code. The fraudulent site will then gather any credentials the victim might enter, from usernames and passwords to bank details and social security numbers, and this data will be consequently used by the attackers for malicious purposes. 

These types of attacks will only escalate in 2022 as more and more companies start using QR codes for business practice, thereby increasing the surface of legitimate activity for attackers to spoof. Moreover, the new year will see an increase in QR codes being used in malware campaigns, where the fake QR codes trick users into installing malicious apps via untrusted sites or app-stores that then steal data from the user, such as logging every key stroke, stealing credentials and data, and sending expensive SMS messages from the victim’s phone. 

The increased use of QR codes and other novel evasion techniques in 2022 will force enhancements to detection technologies and user education. Remember, if the email or text message containing a QR code looks suspicious, it probably is. Consumers can ensure their credentials are safe by enabling multi-factor authentication and following best practices for password management. Businesses should evaluate specialized phishing solutions that employ techniques like machine learning to spot malicious QR codes and other evasive phishing techniques.”