Belgium Warned Against High-Security Account Fraud Scams

The Belgian financial sector federation, Febelfin, has issued a warning about a growing trend of high-security account fraud targeting businesses and self-employed individuals in the country.

Phishing Messages and Counterfeit Websites

Scammers are sending phishing messages that appear to be from trustworthy organizations such as social secretariats, banks, post offices or other reputable institutions. These messages typically contain links to counterfeit websites, which are designed to trick victims into revealing personal information, including codes for logging onto online banking services.

Consequences of Falling Victim

Once fraudsters obtain this sensitive data, they can access accounts and carry out fraudulent transactions, often with devastating consequences for the victim. The scam typically involves a second phase, where the fraudster contacts the target by phone, posing as a bank employee, to alert them to suspicious transactions on their account. The scammer then offers to transfer a large sum of money to an “enhanced security” account, which does not exist in reality. Instead, the money is transferred to accounts controlled by the fraudsters.

Prevention Measures

Febelfin emphasizes that individuals, companies and self-employed individuals can protect themselves against these frauds by:

• Refusing to disclose personal information or bank codes
• Avoiding installing software offered via phone or email

What to Do if You’re Targeted

If you receive a suspicious call, do not respond. Instead, contact your bank through its confidence number to verify the authenticity of the call.

Reporting Fraud

In cases where fraud has occurred, victims are urged to:

• Notify Card Stop on 078 170 170 immediately
• File a complaint with the police as soon as possible

By being aware of these scams and taking preventative measures, you can protect yourself against high-security account fraud.