Wave of tech layoffs leads to more job scams

The tech industry is experiencing significant layoffs, leaving thousands of IT and cybersecurity professionals in search of new employment opportunities. Unfortunately, as these individuals search for new opportunities, scammers are actively preying on them.

Losing a job, especially when you can’t afford to be without income, is emotionally stressful, and desperation can make you vulnerable to these types of scams.

Given the ongoing economic uncertainty, market volatility, and the adoption of AI across industries, more layoffs are expected in the future. As a result, job-related scams are also likely to become more common.

Whether you’re actively job hunting or currently employed, expect to be contacted by unfamiliar third parties at some point.

According to the Federal Trade Commission (FTC), reports of job scams and fake employment agencies have nearly tripled between 2020 and 2024, with reported losses escalating from $90 million to $501 million.

In a recent campaign, cybercriminals impersonated CrowdStrike recruiters, deceiving job seekers into downloading a fake CRM application that installed the XMRig cryptocurrency miner on their Windows PCs.

Job scams on LinkedIn

LinkedIn has become one of the main hubs for job scams, with fake recruiters and phony job posts targeting tech professionals.

Iranian hacker group TA455 has used the platform to impersonate recruiters, targeting aerospace professionals with fake job offers. These scammers exploited LinkedIn’s trust-based nature, convincing victims to download malware disguised as job-related files.

Malwarebytes found that scammers use bots and spear phishers to target people on LinkedIn. If you post hashtags like #opentowork, you might get messages from fake recruiters. These messages can lead to phishing sites or files that install malware.

To combat the rising issue of fraud, LinkedIn has taken steps to protect users, with one key initiative being the introduction of verification badges for job posts. A verification badge on a job post means LinkedIn has confirmed key information about the company.

AI and job scams

With the rise of AI, these scams are about to get more convincing, as emails, job postings, and even video calls with scammers posing as job recruiters will be hard to distinguish.

Emerging technologies are making cyber threats more sophisticated, giving attackers new ways to run scams and social engineering attacks faster, wider, and on a bigger scale than ever before.

“Improvements in deepfake software make it easy for anyone to create hyper-realistic digital content, including images, audio, and video. Fraudsters are getting so good that they have started to use deepfakes to try and circumvent biometric verification and identification,” said Jenn Markey, Advisor to The Entrust Cybersecurity Institute.

How to avoid a job scam

Do some research

Before applying or responding to a job offer, check if the company is legitimate. Look up the company’s contact details on your own, don’t rely on the phone number or email provided by the supposed recruiter.

Never pay for a job opportunity

Legitimate employers will not ask you to pay for training, equipment, or application fees. If a job offer requires upfront payment, it’s likely a scam.

Protect your personal information

Avoid sharing sensitive details like your social security number, bank information, or copies of personal documents until you’ve confirmed the job offer is genuine. Scammers may use this information for identity theft.

Verify contact information

Ensure that emails come from official company domains (e.g., @companyname.com) and not from generic addresses like Gmail or Yahoo. Be cautious of recruiters who are unwilling to communicate through official channels.

Trust your instincts

If something feels off, such as vague job descriptions, unusually high salaries for minimal work, or pressure to act quickly, it’s best to proceed with caution.