Bulgarian Banks Join Forces to Combat Rising Tide of Fraudulent Activities

European Cyber Security Month Awareness Campaign Launched

As part of the European Cyber Security Month, Bulgarian banks are launching an awareness campaign to educate customers about common types of online fraud and provide tips on how to protect themselves from cybercriminals. The campaign, organized by Europol, the European Banking Federation, and private and public sector partners, aims to raise public awareness of fraudulent techniques used by scammers.

Common Types of Fraud

According to Europol, some of the most popular types of fraud that Bulgarians may encounter include:

CEO Fraud: Scammers pose as CEOs or senior representatives to trick victims into paying fake invoices or making unauthorized transfers.
Invoice Fraud: Criminals pretend to be clients or suppliers and convince victims to pay future invoices into a different bank account under their control.
Phishing/Smishing/Vishing Scams: Cybercriminals use emails, text messages, or phone calls to trick people into sharing personal, financial, or security information.
Spoofed Bank Website Fraud: Scammers create fake websites that look identical to those of legitimate banks.
Romance Scams: Criminals pretend to be interested in a romantic relationship to obtain money and/or data.
Personal Data Theft: Social media channels are used to harvest personal information.

The Rise of Fraudulent Activities

The rise of fraudulent activities is attributed to the increasing popularity of online transactions and the use of mobile applications for shopping. The COVID-19 pandemic has accelerated these processes, making electronic channels an increasingly preferred method of consuming goods and services. Social engineering remains a key tool for cybercriminals, with phishing being the most common means of achieving their goals.

Combating Fraudulent Activities

To combat these threats, Bulgarian banks are committed to raising public awareness about fraudulent techniques and providing guidance on how to protect personal data. The Association of Banks in Bulgaria and its members will distribute animated and video materials among customers, highlighting common types of fraud and offering tips on how to stay safe online.

Tips for Staying Safe Online

To stay safe online, customers can:

Be cautious when receiving unsolicited emails or text messages that ask for personal or financial information.
Verify the authenticity of websites and invoices before making payments.
Keep software and security systems up to date.
Use strong passwords and avoid using public computers or Wi-Fi networks for sensitive activities.

Conclusion

The campaign aims to promote the importance of training and awareness among Internet users, as well as support for relevant institutions and organizations working to prevent financial and other crimes. For more information on common cyber fraud techniques and how to protect yourself, customers can refer to the websites of Bulgarian banks and their social media channels.