Banking Deception: Large Sums of Leva Disappear in Phishing Scam - Be Careful!

Crime | Author: Diana Kavardzhikova |March 11, 2024, Monday // 16:16
Bulgaria: Banking Deception: Large Sums of Leva Disappear in Phishing Scam - Be Careful! Pixabay

Authorities in Varna have detained two individuals suspected of orchestrating a widespread bank phishing scam that has left countless Bulgarians reeling from financial losses. The culprits, apprehended last week, are believed to have operated a sophisticated scheme targeting unsuspecting individuals across the country, draining hundreds of thousands of Bulgarian lev from numerous bank accounts.

Inspector Kosta Kotavov, from the economic police at the Sliven Regional Directorate of Internal Affairs and Communications, disclosed that the investigation into the operation commenced at the dawn of 2023. Reports flooded in from concerned citizens who discovered their bank accounts depleted, prompting the Sliven ODVMR and the Main Directorate "Police" to join forces in cracking the case wide open.

According to Kotavov, the perpetrators spared no one, siphoning off funds ranging from a few hundred to several thousand leva from each victim. The method was ruthless and indiscriminate - once gaining access to an account, every last penny was swiftly drained away.

In light of these alarming developments, experts have issued a stern warning to the public: exercise extreme caution when encountering emails purportedly from banks. These fraudulent emails, known as phishing attempts, often lure unsuspecting recipients into divulging sensitive personal information, such as card details or mobile banking passwords.

"Banks don't ask for personal data in emails," cautioned the experts. "Any request for such information should be treated as a red flag signaling a potential phishing scam."

In the event of suspected fraudulent activity, individuals are urged to take immediate action by contacting their bank and notifying the authorities. However, proving these crimes poses a formidable challenge due to the technical prowess of the criminals involved. Funds are cleverly routed through offshore channels and cryptocurrency wallets, making the money trail exceedingly difficult to trace.

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Tags: banking, Bulgaria, fraud, enforcement

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