Common fraud tactics

Malvertising

Fake online advertisements designed to increase traffic to malicious websites. Known as "malvertising," these attacks target the results of well-known search engines, including popular eCommerce websites and financial institutions. Scammers trick users into disclosing sensitive personal data to them before search engines can remove fake ads. It is often observed that popular websites are copied by scammers, so that they can more easily deceive users.

Keeping yourself up to date with online scams and get protected

Each type of fraud is intended to steal personal data and passwords, such as Username, e-banking passwords, additional passwords (myAlpha Code), debit/credit card details and PINs, with the aim of accessing your bank accounts and cards. Find below the most common types of online scams and how to protect yourself:

Advertisements on the internet or social media

Online adds fraud for selling products, renting houses online, buying cars or for virtual jobs has recently become widespread. The prospective victim who has posted an ad on the internet or social media receives a phone call from an alleged interested party, who then asks him/her for personal e-banking codes, the number and/or PIN of his cards and other relevant information in order, supposedly, to make an payment. By intercepting the victim's e-banking codes, fraudsters manage to access their bank accounts and cards and carry out online fraud transactions..

Phishing emails

Deceptive emails that are designed to deceive their recipients and disclose to fraudsters their personal and financial information or security codes. They usually copy the logo, features and style of the actual messages you receive from the Bank. They use terminology that gives the feeling of urgency and urge you to download an attached file or follow a link to your device.

Smishing (SMS Phishing)

Scammers try to obtain personal and financial information or security codes via SMS messages. They usually ask the prospective victims to follow a link or call a phone number to verify or, update their details. The link leads to a fake website and the phone number leads to the fraudster claiming to represent the legitimate business.

SIM Swapping

Perpetrators take advantage of the possibility of changing a SIM card and pretend to be either the SIM card holder or someone authorized by the legitimate subscriber, thus trying to deceive mobile operators and obtain a new card to replace the one that the legal holder has. Once the new card has been activated, the old one, which is in the possession of the legitimate subscriber, is disabled and so all services (calls, SMS,etc.) are received on the device in the possession of the fraudsters, enabling them to carry out illegal activities without the advice of the legitimate subscribers. (e.g. receiving calls and messages intended for them, intercepting disposable codes or security verification messages, etc.). Learn more about SIM Swapping tactics here.

Vishing (Voice Phishing)

It concerns fraud by telephone calls, which aims to deceive the victim in order to reveal his personal and financial information or security codes or to transfer money to the fraudsters. Typical examples are telephone calls from an alleged Accountant for confirmation of data, a Hotel / Travel Agency Representative for booking / renting accommodation or a Technician for repairing a computer software.

Investment-related scams

Common investment-related scams can include lucrative investment opportunities, such as stocks, cryptocurrencies, gems, offshore real estate investments and alternative energy sources. 

CEO / corporate e-mail scams

CEO /corporate e-mail fraud takes place when an employee of the company is tricked into paying a fake invoice or carrying out an unauthorized credit transfer from the company's corporate account. 

Fraud through invoices and other documents

This is the interception / modification of invoice data and other documents. Learn more here. Online shopping scams are often profitable purchases, but special attention needs to be paid to fraud. 

Fake Banking Websites

Malicious emails include links, which will redirect you to a fake website, ostensibly of your affiliate bank, where you will be asked to disclose your financial and personal information.