Multibanco card frauds are becoming increasingly frequent and sophisticated. Burlons resort to more elaborate methods to deceive users and gain access to their bank details or divert money from the accounts. Although some security measures are being implemented, financial losses continue to increase, above all who uses cards in less protected or outside the country.
Victims lose more money despite fewer cases
According to Banco de Portugal’s latest payment systems (BDP) report, cited by Jornal de Notícias, the average value lost by each victim rose to 58 euros in the first half of 2024, which represents an increase of 11 euros compared to the same period last year.
Also according to the BDP, the number of frauds per million operations with the ATM card registered a descent from 156 to 129. However, this reduction did not prevent the aggravation of the financial impact. For every million euros moved with cards issued in Portugal, 161 euros were fraudulently diverted, more than the 137 euros recorded in the same period of 2023.
Millions of euros diverted by digital scores
Frauds with multibanco cards and bank transfers caused losses of around 8.9 million euros in the first six months of last year. Of this amount, about three million concern card operations and nearly six million to credit transfers, according to the same report by Banco de Portugal.
The document highlights the evolution of methods used by criminals, who now resort to the most subtle and effective strategies to deceive the victims. Shipping messages to SMS or conversation applications, as well as publication of ads on social networks with high job promises or income, are some of the most commonly used practices.
In some cases, an initial amount is requested with the promise of reimbursement or quick return, which eventually leads many victims to authorize payments without realizing the fraud.
Payments outside the EU most exposed to risk
The risk of fraud varies depending on the location of the operation. According to Banco de Portugal, for each million operations with ATM card, there are 192 fraud in Portugal, 9 283 in the European Union (excluding Portugal) and 51 476 outside the European space. In monetary terms, deviations for every million euros reach 406 euros in Portugal, 13 963 euros in the EU and 37 732 euros in third countries, the BDP revealed in the same report.
With regard to the methods used by the burns, 66% of frauds are associated with users’ data theft, usually due to ignorance or negligence. 26% of cases involve the change in payment orders, diverting the amounts to accounts other than those initially planned.
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Strong authentication drastically reduces the risk
The BDP report also highlights the effectiveness of strong authentication methods in the prevention of fraud. Operations include SMS codes, biometric authentication, or additional passage words have a 25-fold fraud rate than transactions without these safety measures.
Although these tools are increasingly present, many transactions continue to be performed without any additional protection, which increases the likelihood of successful fraud attempts.
According to the same report, in 77% of cases, it is the user himself who eventually assumes the losses, because he started the operation or supplied, even without intention, the necessary data for the burns.
Schemes continue to deceive thousands
The schemes used continue to follow recognized standards, such as false messages with job offers or awards. One of the most frequent scans is the so -called “Hello Father/Hello Mother” scheme, where the criminal goes through a family member near urgent help through text messages.
It indicates that only 8.3% of losses were assumed by payment service providers. The remaining 14.7% were the responsibility of other interveners, not identified in the report.
To mitigate the risk, the BDP has been conducting awareness campaigns and alerts with the population, drawing attention to how the burns manipulate users’ confidence and exploit emotional or social weaknesses.
What to do in case of fraud
In case of suspicion or fraud confirmation, Banco de Portugal recommends the immediate cancellation of the ATM card with the responsible bank or by number 21 315 98 56. This measure should be taken urgently to avoid further debts or losses.
The user must also contact the authorities, namely the Judicial Police, which has units specialized in the investigation of computer crimes and financial fraud.
According to the BDP, prevention remains the best form of protection. Being aware of the communications received, avoiding clicking suspicious links and always confirming the sender’s identity are essential attitudes to reduce exposure to this type of crime.
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