Financial Crime World

Title: Spike in Financial Fraud Cases and Phishing Attacks in Belgium: FPS Economy Sounds Alarm

Alarming Figures of Financial Fraud and Phishing Attacks in Belgium

According to a recent study by the Federal Public Service (FPS) Economy, a concerning trend of financial fraud and phishing attacks has emerged in the Belgian financial landscape [1]. The following statistics reveal the extent of this issue:

  • Total reported fraud cases in 2022: 51,874
  • Year-on-year increase: 8.26%

Breakdown of Reported Fraud Cases

Among all reported fraud cases in 2022, the following categories were the most common [3]:

  1. Phishing attacks: 23%
  2. Unsolicited phone calls: 20%
  3. Online sales fraud: 15%

FPS Economy’s Concerns and Solutions

In response to the increasing number of financial fraud cases, Etienne Mignolet, the FPS Economy spokesperson, expressed concerns over the sophistication of scammers [2]. He explained, “Scammers are mastering the art of surfing the news to develop their modus operandi.”

This year, the FPS Economy has seen several reports of fake online stores offering firewood and wood pellets to exploit the energy price crisis, but also reports of fraudulent online stores selling toys and cases of non-delivery of tickets for cultural and sporting events [2].

To combat this issue, the FPS Economy launched an awareness campaign this summer to help consumers identify and avoid fraudulent online stores.

Fraudulent Activities Beyond the Digital Realm

Fraudulent activities are not limited to the digital realm, and Belgian authorities have been dealing with incidents such as rooftop scams in Walloon Brabant and multi-million-euro scams [4][5].

Protection Against Fraud

As the authorities step up their efforts to combat fraud, consumers are urged to remain vigilant and protect their personal and financial information. It is advised that EU citizens familiarize themselves with the signs of phishing attacks and exercise caution when making online purchases [3].

[1]: FPS Economy press release, 2023. [2]: FPS Economy spokesperson statement, 2023. [3]: FPS Economy study, 2023. [4]: Walloon Brabant local news, 2023. [5]: Namur court verdict, 2023.