The FBI Denver Field Office is warning the public about this sneaky scam. Here’s how to protect yourself and those you love from thieves ready to take all you’ve got

“Every day, we are working to hold these scammers accountable and provide victims with the resources they need,” the FBI’s report says.

How this scam works

The FBI warns that scammers can load malware onto your computer if you upload “free” online conversion tools. Unless you have anti-virus software installed, the malware can be hard to detect, and you may not realize until it’s too late.

At that point, scammers may have accessed your computer and all your data: passwords, banking information, cryptocurrency details like wallet addresses and sensitive personal information.

Not only can con artists use such details to steal money from your accounts, but they can launch ransomware attacks — holding your data ‘hostage’ by encrypting it and not releasing it until you pay them hefty sums.

If you have anti-virus software installed, it will likely detect malware. Another red flag is that your password won’t work when you log into your accounts — or you see suspicious transactions.

If that’s the case, immediately change your passwords using a non-infected device and other financial institutions about possible fraudulent activity.

What you can do to protect yourself

The file conversion scam is one of a growing number of online scams worldwide. According to the Anti-Phishing Working Group, there were 1.2 million cyberattacks globally in 2023 — an increase of 40% from 2022,

If you don’t already have antivirus software, download a reputable version and run a software scan any time you’re downloading software. The FBI shares these other tips:

• Make sure the website has HTTPS encryption, identified before the URL in the address bar.
• Exercise caution around online software asking for a lot of personal information or displaying a large number of third-party apps.
• Ensure that the provider has a clear privacy policy outlining how it handles your data.
• Check online reviews of file-converter websites or other downloadable software tools, and ask someone you trust what they’ve used in the past.
• You may be better off using a reputable paid service.
• Consider turning on multi-factor (or two-factor) authentication, so when anyone tries to log into your accounts,they’ll have to go through more security measures to gain access — and you’ll get an alert (e.g., a text) that someone is trying to gain access to your account.

If you believe you or someone you know has been victim of an online scam, file a report with the Internet Crime Complaint Center (IC3) at IC3.gov.