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Top 3 Current Telephone Fraud Schemes Named
VTB has named the three most common telephone fraud schemes, which account for up to 80% of all incidents from January to October 2024.
In most cases, the attackers pretended to be fake employees of banks and telecom operators, in the second case, they allegedly came from government agencies. Another plan includes virtual income from investments and part-time work on the Internet. Nikita Chugunov, Senior Vice President, Head of the Digital Business Department at VTB, spoke about this on the eve of FINOPOLIS 2024.
Fraudsters pose as bank employees, telecom operators or government officials. In this way, they use secret SMS codes to lure consumers into confirming their actions on the Internet, installing malware on their smartphones or forcing them to click on phishing links. Having gained access to your personal accounts, fraudsters can apply for credit products and withdraw money from your cards and accounts.
In other scenarios, clients are offered income through fictitious investments, online work, and even currency purchases. The scammers promise to make a quick buck by causing the value of investments or company shares to skyrocket. Clients first transfer small amounts to third-party accounts, check the profit, and then increase their investments, including credit funds. Once the money is received, the scammer disappears.
According to experts, this year fraudsters have become more active in manipulating victims using personal information. Fraud schemes are selected taking into account the client's age, social status, status and issued banking products. Fraudsters "lure" them with a proven trick. For example, promising quick income or using psychological pressure with the demand for urgent actions to restore access to services.
The portrait of a fraudster on the market is changing. More and more often, we are talking about trained and financially savvy professionals who are well versed in human psychology and know how to put pressure on their interlocutors at the right moment. About 85% of victims independently transferred money to unknown accounts, withdrew cash and transferred it to unknown persons, and also shared personal information. As the good saying goes: “Trust, but verify”, you should always maintain critical thinking and remember that communicating with strangers can cost you money.
Fraudsters made most of their calls this year via mobile phones (67%). At the same time, during peak hours in July and August, this figure reached 89%. The remaining 33% of fraudsters' calls come via messengers.