The economic crisis that hit in September spurred bank bailouts, bankruptcies and a dramatic drop in the stock market. In other words, it created the perfect environment for cyber scammers to step in and take advantage of the confusion.

As soon as the downturn took hold, we saw email scams informing people that their bank had been bought and that they needed to update their personal information with a new institution. We also saw ploys that played to the credit crises by offering to help people repair their credit, for large fees and no results.

The world economy may have slowed down, but cyber scammers are in high gear. This is really no surprise considering that cybercriminals often use current events to try to grab computer users’ attention. Because we are already familiar with the news, we are more likely to believe that a phishing email or fake website is authentic. Take, for instance, a recent bogus email claiming to be from U.S. Treasury Secretary Henry Paulson. The email asks the recipient to assist Paulson in the “transfer of 800 billion dollars US” to alleviate the country’s economic crises. It then asks the recipient to “please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction.”

It may be hard to believe that anyone would fall for this ploy, but remember that cyber scams only need a one percent return to make them profitable. Since cybercriminals use compromised machines to send out their malicious messages, their costs are almost nothing and their profit potential is large.

And with so much recession-related news fodder to work with, scammers are having a field day. If you receive any emails related to the banking sector bailout, mortgage foreclosures, credit repair, bankruptcy help or “easy ways to make money,” beware. These are most likely phishing attempts, asking you to send private information and/or money.

Unfortunately, with the economy in a downturn, people may be more receptive to scams that promise money or relief from their financial hardships. So the best defense is to be aware of the problem, and to take steps to protect yourself. Be suspicious of emails from unknown senders, especially if the subject header contains news-related content. When navigating the web, use McAfee® SiteAdvisor® to help you identify safe and potentially dangerous sites.

While cybercriminals are undoubtedly up to no good, at least we’re on to them. And a little bit of caution can save you some major headaches.

To download a free copy of SiteAdvisor, visit http://www.siteadvisor.com/.