“Let’s catch the fraudsters together”: Bank warns of new fraud method spreading | Business

The tactic of “catching fraudsters” offered by criminals is for the resident to actually contact an existing credit institution and take out a loan in his own name. After taking a loan, the criminals inform the victim that the alleged fraudsters have been caught, but the received money does not belong to the resident, but to the credit institution that granted the loan, so the money must be returned – transferred to the fraudster’s account or handed over to the courier allegedly sent by the credit institution. This is how fraudsters steal money, and the person has to cover financial obligations.

“Fraudsters know very well how to manipulate emotions – by instilling fear and calling for quick action, criminals aim to catch a person off guard and “turn off” critical thinking. It is important to react calmly to such situations, check the information through other channels, for example, contact the credit institution mentioned by the fraudsters and ask if the information is correct”, reminds Romas Čereška, head of Citadele Bank’s Baltic funds management and trade financing department.

He claims that it is almost impossible to take out a consumer loan in the name of another person, because financial institutions lend responsibly, you need to provide copies of documents and other personal data.

“Identity theft is an extremely rare phenomenon in the Baltic countries. However, even in such a case, the bank employee would inform the customer about the crime and contact the police directly, instead of catching fraudsters with the customer, using absurd schemes”, comments R. Čereška.

He reminds that bank employees also never rush residents to make a decision as soon as possible, they will never ask them to transfer money or hand over cash. Also, you will never be asked to provide internet bank or payment card data, to confirm actions with a mobile signature or other means of identification, or to download various mobile apps.

If you are a victim of a financial scam or suspect that you are being scammed, you should contact the police and your bank immediately. Share your experience with your loved ones so that they are informed about the spreading fraud methods.