Bulgarian Banks Launch Information Campaign to Combat Online Fraud
As part of the European Cyber Security Month, Bulgarian banks have joined forces with Europol, the European Banking Federation, and other private and public sector partners to launch an information campaign against seven common types of online financial fraud.
Raising Public Awareness
The Association of Banks in Bulgaria and its members are participating in the campaign by publishing animated and video materials that will be distributed among bank customers. These materials contain information about:
- CEO Fraud: When criminals impersonate CEO or other high-ranking officials to trick employees into transferring funds.
- Invoice Fraud: When fake invoices are sent to businesses, asking for payment.
- Phishing/Smishing/Vishing: When criminals send emails, texts, or calls that appear to be from a legitimate source to obtain sensitive information.
- Spoofed Bank Website Fraud: When websites that mimic the look and feel of a bank’s website are used to steal login credentials and other personal information.
- Romance Scam: When criminals build fake relationships with people online and ask for money or financial favors.
- Personal Data Theft: When sensitive personal data is stolen and used for illegal purposes.
- Investment and Online Shopping Scams: When criminals offer fake investment opportunities or online shopping deals to steal money.
The Importance of Public Awareness
According to Europol, these types of fraud are increasingly sophisticated and difficult to detect. Criminals use social engineering tactics to trick victims into sharing their personal, financial, or security information, which can be used for illegal purposes. The most common method is phishing, where criminals send emails or text messages that appear to come from a legitimate source in an attempt to obtain sensitive information.
The Bulgarian Banks’ Commitment
The Bulgarian banks are committed to raising public awareness about these fraudulent techniques and supporting the work of relevant institutions and organizations to protect individuals from becoming victims of financial and other crimes. To learn more about common types of cyber fraud, customers can visit the websites of banking institutions and their social media channels.
The Campaign’s Goals and Timeline
The campaign will run from October 17th to 23rd, and law enforcement agencies from all 28 EU Member States and five non-EU countries, as well as 24 European banking associations, are participating. By working together, the goal is to make it more difficult for cybercriminals to succeed in their scams and protect individuals from financial losses.
Take Action
By staying informed and taking steps to protect yourself, you can reduce your risk of becoming a victim of online fraud. Don’t wait until it’s too late – take action today!