In recent months, a new financial fraud is being practiced in various parts of the world, with an increase in the number of cases in the United Kingdom, North America. It is a ‘sophisticated’ blow involving bank data theft and access to digital wallets. The impact has been significant for both victims and authorities trying to identify those responsible.
According to the experts consulted by the newspaper fraud is facilitated by social engineering techniques, in which criminals can manipulate victims. Through text messages and fake ads, victims are induced to provide bank data or click on fraudulent links. This first step opens the door to a more complex blow, where control over the victim’s bank account is transferred without it having this perception.
One of the most crucial parts of this scheme is related to the use of OTP (One Time Password) codes requested by the victims under false pretexts.
Criminals deceive people by asking them to insert this code, allowing them to activate digital wallets on their own devices. From this moment on, the burns gain full access to the means of payment of the victim, without realizing it.
Garry Lilburn, Cyber’s director of operations Defense Alliance, highlights the complexity of the operation. “It is the scale and effort these people are investing” that make this scam particularly alarming. The complexity of the scheme shows the level of organization of criminals, which use multiple strategies to ensure the success of the coup.
Victims do not realize that they are providing data
UK Finance’s Dianne Doodnath explains that many of the victims do not realize that by providing the OTP code, they are actually authorizing a new means of payment. This gives criminals the ability to make purchases and transactions on behalf of the victim, without immediate knowledge of what is happening.
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After activating the digital wallet, criminals do not act immediately. To avoid lifting suspicions, they often wait for weeks or even months until they perform any transaction. This waiting time is a strategy that helps to avoid early detections of fraud, allowing transactions to be performed without much risk of being identified.
The Trick of the Present Cards
Another trick used by criminals involves the purchase of present cards in supermarkets or online stores. This practice makes it even more difficult to identify fraud, making it difficult for victims or authorities to connect fraudulent transactions to criminals.
As a result of the evolution of this fraud, experts warn of the importance of being aware of suspicious messages, especially those that promise discounts or benefits. The recommendation is clear: Never provide bank data or OTP codes to unknown sources. Even if the offer seems advantageous, you should always check your authenticity before taking any action.
Do not share the OTP code
In addition, sharing an OTP code should never be performed regardless of context. This practice, which may seem harmless, allows criminals to control the victims’ bank account, facilitating theft of large amounts of money. Caution and care when dealing with sensitive information is fundamental to avoid being a victim of this type of fraud.
Adopt preventive measures
Note that authorities recommend that citizens regularly update their passwords and security systems, as well as being cautious when interacting online. With increasing digital fraud, it is more important than ever adopting preventive measures to protect personal data and avoid considerable financial losses.
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