Fraudsters take advantage of those moments when people are more inattentive. According to Viktor Tkachenko, head of Citadele bank’s anti-money laundering department, such times are weekday mornings and weekend mornings. That’s when fraudsters are most active and ready to test new fraud schemes.
“Fraudsters operate at any time, and vigilance is never too much. However, there are periods when more phishing emails are sent and fraudulent calls are made,” said Viktor Tkachenko, Head of the Anti-Money Laundering Department of Citadele Bank. “Fraudsters choose a time when people are busy and therefore less alert. Such times are, for example, weekday mornings or weekend mornings.”
Paydays also affect the activity of fraudsters, which is why the number of fraudulent letters and calls is higher at the beginning of the month. In Estonia, the income tax refund period also makes fraudsters more active. “At that time, money flows and amounts are larger, so fraudsters have a greater chance of getting a bigger catch,” explained Tkachenko.
“Common topics used by fraudsters include account or payment blocking, alleged exclusive investment opportunities, inherited inheritance or lottery winnings, subpoenas, and apparent buy-sell transactions,” said Tkachenko. However, he stressed that fraudsters are resourceful and the range of topics is certainly not limited to those presented.
“Recently, we have noticed a money mule scam. This means that a number of people use their personal current accounts to help legalize money of illegal origin,” said Tkachenko.
In the scheme, fraudsters post ads on unofficial job portals where they offer a reward for making payments. To do this, a person must open a current account in the Estonian bank and either make payments himself or give fraudsters access to his account.
“Unfortunately, young people do not understand that this is aiding and abetting a crime, for which you can get real imprisonment,” said Tkachenko.
Fraudsters use different channels to get in touch: e-mails, SMS, contacting people on social media and by phone. Scammers often state on their social media accounts that they work for a bank or some other well-known company to gain people’s trust.
“A representative of a bank or other authority will never contact a person on Facebook or WhatsApp in case of problems,” said Tkachenko. A common feature of scam emails and calls is that they invite the recipient to take action: either click on a link, share their personal or bank account information, transfer money, or otherwise react quickly to reduce potential damage. “Fraudsters often play on people’s emotions, such as the fear that something will happen to their bank account or money if they don’t act quickly,” said Tkachenko.
You can keep an eye on frauds spreading in Estonia on the Facebook page Frauds in Estonia, where both state authorities and companies share information regarding fraud schemes that are currently spreading.
How to protect yourself from fraud?
- Don’t act now. Take some time to think, even if the person on the other end of the phone is demanding or the email prompts you to check or enter your information immediately.
- Check the sender details carefully. Fraudsters often use e-mail addresses that look correct, but where, for example, some letters are replaced by symbols or omitted altogether, so that a person does not notice the difference at a quick glance.
- Read the contents of the letter carefully. Are you likely to have been sued or won a large inheritance? Although fraudsters have become more adept at writing letters in Estonian, check your spelling and style as well. The representative of the authority addresses people politely and correctly.
- Do not click on the links. They take you to pages created by fraudsters, where the entered data gets into their hands, or where ransomware or a virus is loaded onto your device.
- When in doubt, check. Call the official phone number of the bank or other institution and ask if the letter or phone call you received came from them.
2024-04-17 07:22:10
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