Finns cheated 10.8 million euros online

Banks have managed to prevent scams for millions.

Phishing can lead to financial losses. Adobe Stock / AOP

Cybercriminals have become active again and many Finns have come across various scam and phishing messages that have been sent, for example, in the name of banks. The financial industry says that a total of 10.8 million euros have been taken from Finns in January-June with these scam messages.

– The most profitable means of fraud for criminals are documentary and love scams, which accounted for 3.8 million euros. In terms of numbers, fake police scams and various phishing scams accounted for the most, almost half, Finanssiala ry’s director responsible for fraud and crime prevention Niko Saxholm says in the announcement.

By document scams, Saxholm means a method of cheating that has become known, for example, as the Nigerian letter, in which the victim is sent, for example, an e-mail notification of a large inheritance or a monetary profit. In phishing messages, the criminals appear as, for example, a bank or an authority. In phishing messages, the criminals’ goal is to get the victim’s bank credentials.

Last year, 2,500 criminal reports about scams were made to the police. The number may be even higher this year, if you look at the statistics for the first half of the year alone.

Banks are fighting fraudsters

Although criminals have defrauded Finns of more than 10 million euros, the banks have managed to prevent the loss of the money or have returned the money to their customers.

According to the financial sector, the banks have managed to prevent 6.7 million euros from fraud or have returned the money taken by fraud to customers.

– Criminals’ imaginations don’t stop there. Fraudsters also quickly change their methods of operation when banks or authorities make cheating methods unproductive. Banks spend tens of millions of euros a year to fight fraud: 6.7 million euros of frauds prevented and funds returned to customers shows that the work is worth it, says Saxholm.

In Finland, the operation of scammers is comparatively difficult. According to Saxholm, 1,800 out of approximately 600 million payment transactions have been scams in six months. This indicates that it is not easy for fraudsters to get between the bank and the customer.

The financial industry estimates that the figures for banks and the police are only the tip of the iceberg, and that the number of unreported cases or the criminal benefit is unknown. For example, the person who has been cheated feels ashamed and does not want to tell about what happened.

– In fraud situations, speed is an asset. If you notice that you have been scammed, you should immediately contact your bank and then the police. The faster it works, the more likely it is that the money will be saved, Finanssiala advises.

THE FACTS

Frauds that have come to the attention of banks 01–06/2022

Finns lost to cybercriminals:

10.8 million euros

Payments blocked and returned by banks:

6.7 million euros

Documentary and love scams:

3.8 million euros (financially the largest, 35% of all scams)

Investment scams:

3.3 million euros

CEO Scams:

1.1 million euros

Fake police scams and phishing:

2.6 million euros (largest in number, 49% of all scams)

Source: Finanssiala ry.

ttn-54