Financial Crime World

Title: Online Scammers Prey on Bhutanese Seeking Opportunities Abroad: A Warning from the Police

Increase in Online Scams Targeting Bhutanese Citizens

As the number of Bhutanese citizens looking for opportunities abroad increases, so does the risk of online fraud. In the first two and a half months of this year, 13 financial scam cases have been reported to the Royal Bhutan Police, a significant leap from the 15 cases recorded last year. The total monetary loss to these scams in the past 14 months amounts to approximately Nu 10 M.

Tactics Used by Scammers

Scammers are exploiting this trend by employing deceitful tactics such as:

  • Promising lottery winnings
  • Overhyping investment opportunities
  • Marketing cryptocurrencies like Bitcoin.

These scams ensnare hapless victims, leaving them with significant financial losses.

A Student’s Experience with a Phone Scam

One such victim is a student who awaited her visa to study abroad. While passing the time, she received a phone call purportedly from a VISA department representative. Believing the call to be authentic, she inadvertently shared her personal and financial details. The scammer then debited nearly Nu 100,000 from her account. To add insult to injury, the scammer demanded the same information for her siblings under the threat of not refunding her money.

This case was reported to the Department of Law and Order (DLO), which promptly froze the scammer’s bank account.

Scammers Posing as Officials

The DLO has warned that scammers are posing as officials from VISA offices and requesting sensitive information such as citizenship identity card numbers, bank account numbers, and OTPs. By gaining access to this information, scammers can unlawfully access and execute fraudulent transactions.

Preventive Measures

To combat this issue, various departments and financial institutions, including the DLO, Royal Monetary Authority (RMA), GovTech, and banks, have joined forces. Their primary objective is to spread awareness through public notifications.

The DLO urges residents not to share OTPs with anyone, even if calls purport to be from bank officials. Banks, in turn, are sending informative SMS messages, advising their clients that official communiques regarding OTPs and mobile app login pins will not originate from their customer service.

The RMA has also issued a notification, discouraging individuals from lending, sharing, or renting out their bank accounts as these actions may facilitate scammers in carrying out illegal transactions. The RMA further disclosed that victims may be held accountable under the law if their accounts are linked to unlawful activities, even if they are unaware or unwilling participants.

Stay Informed and Vigilant

With the ever-evolving landscape of online scams, it is imperative for Bhutanese citizens to stay informed and vigilant, as the consequences can be severe.

Subheadings

  1. Increase in Online Scams Targeting Bhutanese Citizens
  2. Tactics Used by Scammers
  3. A Student’s Experience with a Phone Scam
  4. Scammers Posing as Officials
  5. Preventive Measures
  6. Conclusion: Stay Informed and Vigilant.

Bullet points

  • The number of reported financial scam cases increased significantly in the first two and a half months of this year.
  • Scammers are posing as officials from VISA offices and requesting sensitive information.
  • Share no OTPs, even if calls appear to be from bank officials.
  • Banks will never request OTPs or mobile app login pins through their customer service.
  • Do not lend, share, or rent out bank accounts to others.