Scam victims can be found everywhere - from students to retirees, unemployed individuals to business professionals. As scammers continue to refine their techniques, it's crucial to stay informed and protect ourselves from potential threats.
Fraud is a deceitful act aimed at taking your money by creating a false impression of something that doesn't actually exist.
The initial step is straightforward - enhance your knowledge to prevent falling victim to scams.
Common fraudulent schemes used in Lithuania
INVESTMENT SCAM
Warning signs of an Investment Scam to watch out for:
- Unsolicited Very Profitable Investment Offers: You may receive calls offering lucrative investment opportunities in stocks, bonds, cryptocurrency, rare metals, alternative energy, or investments abroad.
- Calls in Foreign Languages: The calls often come in Russian or other languages, and the number may have a foreign area code.
- Personalized Approach: Scammers will try to understand your profile as a potential customer and emphasize that the offer is exclusive and should not be shared.
- Deceptive Investment Websites: You might be directed to a website showcasing remarkable growth and massive profits for your investments, but these websites are usually deceptive creations by the scammers.
- Attempted Access to Your Computer: Fraudsters may try to gain access to your computer, such as asking you to share a screen via a Skype chat or downloading a program that gives them remote access.
- Pressure to Borrow Money: If you express hesitation or lack of funds to invest, scammers might pressure you to borrow quickly to make the investment.
- Multiple Transfers: The scammers' main goal is to get as many transfers as possible into the account they provide.
- False Promises: After the initial transfer, contact with the scammers may dwindle, but they may contact you again promising a refund if you make additional transfers for supposed extra costs incurred.
- Complete Loss of Investment: In the end, victims lose their entire 'investment' and the additional amounts paid to the scammers.
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Tips for safeguarding yourself:
- Stay Persistent: Be consistent in ignoring calls from aggressive "salespeople."
- Communicate in Local Language: When you answer the call, communicate in your native language (e.g., Lithuanian).
- Avoid Contact: Do not engage with scammers as they are skilled manipulators who can easily influence people.
- Be Cautious of Quick Profits: Be skeptical of promises for quick and maximum returns; high-yield investments are often the riskiest.
- Insist on Written Documentation: Ensure the investment process is documented in writing, not merely agreed upon verbally over the phone.
- Seek Expert Advice: If you lack investment knowledge, consult a reputable specialist and take the time to understand the details.
- Beware of Urgency: Be cautious if pressured for a quick decision; urgency is a common sign of fraud.
- Use Critical Thinking: Approach investment opportunities with a calculating mindset, considering risks and benefits.
- Report Scams: If you fall victim to a scam, promptly contact your bank and the police. Inform people close to you about the incident for awareness.
LOAN SCAM
Key warning signs of a potential loan scam:
- Online Presence: Be cautious of loan offers on the Internet or social media boasting 'very good' interest rates and conditions.
- Language Red Flags: Pay attention to communication in incorrect Lithuanian or other foreign languages, as it may indicate potential fraud.
- Upfront Payments: If asked to make advance payments for notary fees, contract fees, or loan insurance before getting the loan, exercise caution.
- Personal Information Requests: Be wary if the lender requests sensitive personal data like bank details, address, social security number, or document copies, as it could be misused by scammers.
- Foreign Bank Account Transfers: Requesting payment to a foreign bank account or in the name of an individual should raise concerns.
Tips for safeguarding yourself:
- Use Common Sense: Thoroughly evaluate loan offers and determine if they seem legitimate.
- Limited Contact: If possible, avoid direct communication with potential scammers, as further interaction may expose you to malware threats.
- Watch for Early Money Transfers: Demanding money transfers before loan documentation is an apparent indication of potential fraud.
- Documented Transactions: Ensure all loan dealings are properly documented and signed in advance by all parties involved.
- Verify Offer Background: Before signing documents, thoroughly investigate the background of the company or individual making the 'good' loan offer.
- Prompt Reporting: If you fall victim to a loan scam, immediately contact your bank and report the incident to the police. Inform people close to you to prevent further harm.
INHERITANE SCAM AND CHARITY DONATION SCAM
Key warning signs of Inheritance and Charity Donation Scams
- Unfamiliar Sender Claims: Be cautious when you receive emails or social media messages from unknown senders, stating that you have been granted an inheritance or charity donation from a foreign country.
- Language Red Flags: Pay attention to messages in incorrect Lithuanian (translated with Google) or other foreign languages, often in English, which may indicate potential fraud.
- Exorbitant Inheritance Amounts: Scammers commonly assert substantial inheritance sums in various currencies to entice victims.
- Financial Obligations: Inheritance scams may require the 'heir' to make a financial payment to cover supposed inheritance costs, such as notary fees or account opening expenses.
- Scammers' Motive: The ultimate objective of scammers is to obtain as much money as possible, leading to significant financial losses for numerous victims.
Tips for safeguarding yourself:
- Assess Viability: Carefully evaluate the legitimacy of the 'inheritance' or 'donation' claim before taking any action.
- Identify Language Anomalies: Incorrect Lithuanian language serves as a primary method to detect potential fraud.
- Disregard Suspicious Messages: Ignore and avoid contacting the sender of messages with such content.
- Beware of Malware: If you decide to reply, remain cautious as the next message may contain malware threats to your computer.
- Swift Action: If you fall victim to the scam, promptly notify your bank and report the incident to the police. Inform individuals close to you to raise awareness and prevent further harm.
ROMANCE SCAM
Warning signs of Romance Scams:
- Online Meeting: Be cautious if the initial contact occurs through social media or dating platforms.
- Fake Profiles: Scammers often create false identities and may work in organized groups.
- Building Trust: Fraudsters manipulate emotions to establish a strong sense of trust.
- Intense Communication: Beware of rapid and intense expressions of affection to gain control.
- Request for Intimate Content: Avoid sharing intimate photos or videos that could be later used for manipulation.
- Financial Appeals: Be wary if the person asks for financial support after building a connection.
- Seeking Personal Information: Scammers may attempt to extract sensitive details from you.
- Threats and Extortion: If you refuse to give money, scammers might resort to threats or repeated manipulation.
Tips to Protect Yourself:
- Be Cautious with Personal Information: Avoid sharing sensitive details with new or online acquaintances.
- Conduct Background Checks: If suspicious, research the person's identity using search engines.
- Secure Communication: Use secure channels to prevent malware installation on your device.
- Report Fraud to Police: If victimized, contact law enforcement immediately.
- Notify Your Bank: If you've made transfers to fraudsters, inform your bank about the situation.
PHISHING
Key warning signs of Phishing
- Soliciting Personal Information: Phishing scams involve requests for personal data through emails, texts, or calls to later commit fraud.
- Urgent Operations: Victims may be asked to urgently approve operations in online banking, such as payment confirmations or data verification, and provide usernames, passwords, or bank card details.
- Fake Websites: Phishing messages contain links that lead to websites resembling legitimate banks or companies, with similar logos and designs, aiming to deceive users.
- Financial Consequences: Falling victim to phishing can result in emptied bank accounts, unauthorized loans, or misuse of card data.
Tips to Protect Yourself:
- Exercise Caution: Be wary of emails or text messages from unknown addresses or numbers. Check for spelling and grammar errors, which could indicate a fraudulent message.
- Be Cautious with Personal Information: Banks and authorities never request passwords or personal data via email, text message, or phone call.
- Avoid Opening Suspicious Messages: Delete emails or text messages from unknown senders, and avoid answering calls from unfamiliar numbers.
- Verify Sender Identity: If unsure about the sender's legitimacy, contact the company directly using contact details from their official website to inquire about the message's content.
FRAUDULENT BILLING SCAM
Warning Signs of Fraudulent Billing Scams:
- Unwanted Invoices: Fraudsters send unsolicited invoices of various amounts via email.
- Unsolicited Goods/Services: Recipients receive invoices for goods or services they have not ordered or purchased, hoping they won't verify the invoice before making the payment.
- Multiple Bank Accounts: Scammers utilize bank accounts from different banks to carry out the scam.
Tips to Protect Yourself:
- Examine Invoices Carefully: Be vigilant and review the content of invoices received.
- Beware of Unknown Senders: Avoid opening emails from unknown senders, as they may contain malware.
- Inform Impersonated Companies: If an actual company's name (e.g., SEB) is used in the invoices, notify the company about the false invoices sent in their name.
- Avoid Replying to Scammers: Do not respond to the sender and immediately report the incident to the police. If you have transferred funds to the fraudster, also inform your bank about the situation.
FRAUDULENT ACCOUNT DETAILS SCAM
Key warning signs of Fraudulent Account Details Scams:
- Targeting Companies and Individuals: Fraudsters primarily focus on companies dealing with foreign partners and regular transfers, but private individuals may also be targeted.
- Hacked Mailboxes: Scammers hack the mailbox of a partner company to gather information or monitor invoicing. They later inform the victim company of a change in the partner's bank account details and submit a fraudulent 'invoice' with the fraudster's current account number.
- Immediate Invoices: In some cases, fraudsters submit invoices for services or products without informing about the changed details.
- Impersonation Tactics: Fraudsters may use private companies or even pose as public authorities to commit the scam.
Tips to Protect Yourself:
- Verify IBAN Details: Always double-check the international bank account number (IBAN) provided in payment requests.
- Be Cautious with Phone and Email Communications: If you receive information about changes in payment details via phone or email, be skeptical of the caller/sender. Ask specific questions and compare email structures and content with previous interactions.
- Confirm Updated Details: If there are any changes in payment details, contact your business partner directly to validate the updated information before making any payments.
- Report Suspected Fraud: If you suspect fraud, immediately inform your management, business partner, the bank involved, and report the incident to the police.
LEADERSHIP IMPERSONATION FRAUD
Key warning signs of Leadership Impersonation Fraud
- Extensive Research: Fraudsters extensively research the targeted company, often gathering information from online platforms like LinkedIn, Facebook, Twitter, and company websites.
- Spoofed Email Addresses: Scammers may send emails from actual CEO email addresses and explain typos by claiming the email was sent via phone.
- Urgency and Confidentiality Claims: Fraudsters pressure victims to make immediate transfers, emphasizing confidentiality and urgency.
- Non-EU Bank Transfers: Victims are often asked to make payments to banks outside the European Union. Requests for contracts, bank details, company inside information, and passwords may also be made.
- Targeting Multiple Departments: Scammers may approach employees from various departments to extract confidential information.
Tips to Protect Yourself:
- Analyze Emails Carefully: Even if the email claims urgency, take time to examine its contents before making any payments.
- Verify Changes: Be cautious of sudden changes in processes. Legitimate changes are typically communicated in advance to all relevant parties.
- Watch for Suspicious Attachments: Exercise caution with email attachments, particularly invoices, and check for inaccuracies. Ensure the email does not contain malware.
- Inform Authorities: If you suspect a scam, inform your supervisor and report the incident to the police. If you have transferred funds to the fraudster, notify your bank as well.
LOTTERY SCAM
Key warning signs of Lottery Scams:
- Online and Social Media: Lottery scams primarily occur on the Internet and social media platforms.
- Impersonation of Well-Known Companies: Fraudsters may use the name of a reputable company or a similar-sounding one to create the illusion of legitimacy. For instance, they might pose as a renowned telecommunications company offering expensive prizes.
- False Prize Claims: Scammers send messages or emails to victims falsely claiming they have won a prize, even though the victim never participated in any game or campaign.
- Solicitation of Personal Data and Payments: Victims are prompted to provide personal information, make payments, or share bank account and card details when they click on the fraudulent ad.
Tips to Protect Yourself:
- Exercise Caution: Be highly cautious of messages that claim you have won something. Avoid clicking on such messages.
- Refrain from Sharing Personal Information or Making Transfers: Never disclose sensitive information like bank account numbers, bank card details, social security numbers, date of birth, or address. Similarly, avoid making money transfers if requested; these messages are likely scams.
- Beware of Malware: Scammers may use such messages to gain access to your devices (computer or phone). Clicking on the ad could potentially install malware on your device.
- Report Incidents: If you encounter a lottery scam, report it to the police. If you have made any transfers to the fraudster, notify your bank as well.
