The article aims to explore these insidious tactics in detail, provide an understanding of how these criminals operate and present effective measures to prevent and combat these frauds. We will provide essential tips and strategies for both current and potential victims and financial institutions to strengthen defences against these increasingly sophisticated cyber attacks. By raising awareness and implementing robust security practices, we can hope to better protect both our financial resources and personal information.
“INVESTOR FEVER” defines the behaviour of people who go from being simple users of technology and the internet to becoming great investors through them, ignoring everything they have acquired up to a certain age: intuition, selective trust, suspicion, relevant information, etc.
From the victims’ statements you can learn what they experienced at that time of life:
- “I have invested 20,000 euros and I already have a gain of 150,000, but I can’t take it out. The consultant says the extractions affect the following transactions in the long run”
- “After €10,000 invested I get 10% of the amount, but if I continue investing after 12 months I can withdraw 45% of the amount from my account.”
- “I lost 7500 euros with investments, and the police told me that it was a scam… some fools, they don’t know that this is how it is in investments, you lose more… you gain more, that’s what the consultant told me from the beginning”
- “I started sending money and bought shares, but I don’t tell anyone… because you know how people are, envious.”
- “The Bank said that behind the investment is a charlatan who tricked me, but I don’t believe it! I talked a lot with that man, he told me about his family, he had problems too, he was angry because he works long hours..”
Financial fraud through false investments is a major threat in the modern financial world, affecting both individual investors and sometimes large-scale financial markets. These scams are designed to appear as convincing and profitable as possible, using various methods to lure and manipulate victims.
Misleading Advertisements: This tactic is highly effective due to the wide and easy access to the general public through online platforms and social networks. Advertisements can come in the form of eye-catching banners, sponsored posts or even personalised recommendations. The use of false testimonies or the involvement of public persons, either through unauthorised use of their images or false associations, is intended to create a sense of legitimacy and trust. This can make it difficult for investors to distinguish between genuine and fake opportunities.
Sources and further reading
Phishing attacks – Cyber AID https://www.cyberaid.eu/atacul-de-tip-phishing/
Bank Phishing – Online Safety https://sigurantaonline.ro/phishing-ul-bancar/
Cyber security articles – Prodefence https://www.prodefence.ro/articole-securitate-cibernetica/
Identifying online fraud – DNSC https://www.dnsc.ro/cautare?ceCaut=frauda
Cyber Intelligence – Using Profiling – ISACA | DNSC https://dnsc.ro/vezi/document/isaca-cyber-intelligence-using-profiling/
Cyber Education – Parents and Children – Prodefence https://www.youtube.com/@AlexandruAnghelus/videos