The digital age has certainly given us unprecedented freedom of access to information, but it has also facilitated fraudulent activities by criminals.
From deceptive social media posts to phishing scams targeting bank accounts, criminals find countless ways to steal money.
They often contact their victims through various channels, gaining their trust before asking for money. Their tactics are constantly evolving.
Banking technologies and systems evolve, as do fraudulent methods.
It is therefore essential to stay informed about the different types of financial fraud to protect yourself from financial losses and help protect financial institutions. Bank fraud encompasses a wide range of illegal activities involving acts of manipulation or deception aimed at illegally accessing the financial resources of others.
This can happen at both the individual and institutional level, through sophisticated exploitation techniques.
The ultimate goal is to steal money, property, or sensitive personal information for illegal purposes.
By staying informed about the most common types of fraud, you can better protect yourself and those around you. Here are some examples of possible fraudulent acts:
• Phishing and vishing:
◦ On the one hand, phishing involves tricking individuals into revealing their sensitive information through digital spaces such as emails, text messages or websites.
◦ On the other hand, voice phishing (vishing) involves making phone calls from criminals pretending to be bank representatives in order to collect sensitive data.
• Bank card:
◦ Criminals access stolen or counterfeit credit card information to make unauthorized purchases or withdrawals. This can happen through physical card theft as well as online scams, such as phishing attacks and data breaches.
• Identity theft:
◦ Personal information is stolen, such as bank details, to open accounts in someone else's name. This type of fraud can lead to significant financial theft.
• Bank transfer:
◦ Fraudsters trick individuals or businesses into transferring money to accounts they control through phishing, social engineering, or fake invoices.
• Online banking transactions:
◦ Criminals gain unauthorized access to online banking platforms through information collected through phishing, the use of malware, or stolen login credentials to conduct online transactions.
If you have been a victim of fraud, we advise you to contact your bank immediately, they will be able to inform you of the steps to follow to get your money back!