How to spot scams like "Shared Excel Sheet"

What is "Shared Excel Sheet" scam?

Our team has determined that it is a scam campaign involving at least three similar emails designed to trick recipients into following the provided steps. The goal is to deceive recipients into entering personal details on a fake site opened through the included "document". Falling for this scam can result in account hijacking and additional issues.

More about the "Shared Excel Sheet" scam email

The first email claims to be a financial review message that includes a fake spreadsheet supposedly containing the latest figures and a data summary. It states that the recipient can preview or download the file for offline review.

The second email claims to be a quotation request related to a purchase order. It states that a Microsoft Excel document has been shared and suggests the file contains important updates requiring attention. It instructs the recipient to view a revised invoice file or download it, and adds that the link will expire in 14 days.

The third email claims to concern a compensation increment based on achievements. It states that an increment document has been generated and shared for review, and that it contains sensitive information related to an annual compliance review and financial disclosures. It presents options to review or download the Excel file.

In all cases, the purpose of these emails is to trick recipients into clicking the provided links (e.g., "Review Online", "Download", "Download Excel", or "Preview". These links lead to a fake website that can imitate the recipient's email provider (e.g., Gmail or Yahoo Mail). This page encourages visitors to sign in using their email address and password.

In reality, the provided information is sent to scammers. They can use these details to access email accounts, view emails, steal information, send scam emails to others, distribute malware, and more. They may also attempt to access financial, social media, or other accounts and misuse them too.

This scam should be ignored, and personal details should never be entered on websites included in such messages.

Conclusion

This is a phishing campaign using fake document-sharing emails to trick recipients into opening malicious links. The goal is to steal login credentials by directing users to fake pages that imitate legitimate email services. If users enter their details, attackers can hijack accounts and potentially access other connected services for fraud or data theft.

Sometimes, fraudulent emails can be used to trick recipients into running malware on their devices. Here are some examples of similar scams: "American Express Attempted Charge", "Account Update Notice", and "cPanel Account Expiration".

How do spam campaigns infect computers?

Malware typically infects a device when a user interacts with email attachments (downloaded files). Opening these files or enabling features like macros can trigger the malware, allowing it to run and infect the system. Usually, cybercriminals use malicious executables, documents like MS Office or PDF files, archives, or script files.

Another common method is through links that lead to fake or compromised websites. These sites may either deliver malware automatically or persuade users to download and execute a file themselves.

How to avoid installation of malware?

Software should be downloaded only from reliable sources such as official websites or trusted app stores. Cracked programs, cracking tools, and key generators often contain hidden malware. Keeping systems and applications up to date is also important.

Furthermore, users should be careful with emails, especially when messages are unexpected or come from unknown senders, and avoid opening attachments or clicking links without verifying them first. While browsing, it is safer not to interact with suspicious pop-ups, ads, or buttons, as these can redirect to harmful sites or trigger unwanted downloads.

Text presented in the "Shared Excel Sheet" email letter:

Subject: 2025-2026 Financials Review Spreadsheet.

Shared document: attached Excel sheet
4/28/2026 4:54:24 p.m.
Hello ********,
Please find attached the Excel document with the latest figures and data summary. You can preview the content below or download the full spreadsheet for offline review. Let me know if you have any questions.
XLSX

Pcrisk_Bonus_Q2_2026.xlsx
Microsoft Excel Workbook · 224 KB
Download Preview
Confidentiality Notice: This email and any attachments are confidential and intended solely for the use of the individual or entity to whom they are addressed.

Screenshot of the second variant:

Text in this variant:

Subject: QUOTATION REQUEST - PO(541588) 24 April, 2026

Microsoft Excel File Shared
Secure Document Sharing

Hi ********,

Marija Georgios has shared an Excel document with you. This file contains important updates that require your attention.

View Revised invoice.xls

Security Note: This link will expire in 14 days. File has been scanned by Microsoft Defender. Do not share this link with unauthorized parties.

Download Excel

Screenshot of the third variant:

Text in this variant:

Subject: ******** :(Action Req) Compensation Increment Based on Achievements

Compensation Increment Based on Achievements
Document Shared: Increment Based on Achievements

An increment file has been generated and shared with you for review. This document contains sensitive information regarding the ******** annual compliance review and financial disclosures.
XLSX

Increment_********_FYI 2026.xlsx

Review Online Download

Notice: This document is intended for . Unauthorized access, distribution, or copying of this Increment is strictly prohibited under the 2026

© 2026 ******** Compliance Portal.

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Quick menu:

• What is Shared Excel Sheet scam campaign?
• 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 commonly distribute the same messages to many recipients at once. They collect email addresses from data leaks, deceptive websites, or other similar sources.

I have provided my personal information when tricked by this email, what should I do?

If account credentials are exposed, they should be updated. In cases where financial or identity information has been compromised, the appropriate service providers and, when necessary, the relevant authorities should be notified.

I have downloaded and opened a malicious file attached to an email, is my computer infected?

The likelihood of infection varies based on the file type and user interaction. Executable files can compromise a system immediately upon being run. Documents typically become risky only when certain functions, such as macros, are activated.

I have read the email but did not open the attachment, is my computer infected?

Simply opening an email does not lead to system infection. It usually happens only when a user interacts with malicious content (attachments or links).

Will Combo Cleaner remove malware infections that were present in email attachment?

Combo Cleaner can identify and eliminate various threats. However, certain advanced infections may hide themselves deep within the system. For this reason, a full system scan is recommended.