The Hellenic Bank Association has launched an awareness campaign addressing a surge in Caller ID Spoofing, a fraud method targeting bank customers.
In this scam method, fraudsters falsify their caller ID, making it appear as if the call originates from a legitimate bank. They impersonate bank employees and confuse their target to steal sensitive information like online banking credentials, PINs, card numbers, or one-time passwords. Then they use this information to drain the victim’s account.
Specifically, fraudsters typically initiate their scheme with a phone call that is obviously fraudulent. This is followed by a second call, in which they falsely claim to be from the bank, referencing the prior attempt as a detected fraud. Victims are then tricked into giving out all the account details under the guise of protecting their account.
The Bank Association warns for customer to watch out for specific tactics used by scammers:
- High-pressure strategies, urging immediate action and discouraging the victim from consulting others or verifying with the bank directly.
- Requests for sensitive data like full card details, PINs, or online banking credentials.
- Instructions to transfer funds to a “secure” account or conduct dummy/test transactions.
- Promises to send a courier to collect bank cards, cash, or other sensitive items to “protect” them.
- Calls made to landlines asking for mobile phone details or urging the victim to switch off their mobile device.
- False SMS from the Bank which the caller will claim it is to cancel the fraudulent transaction. In reality, no one-time password is needed for the Bank to cancel any fraudulent transaction.
Advice for the Public:
- Be Wary of Pressure: If a caller requests sensitive information or pressures you to act quickly, it is likely a scam.
- Don’t Disclose Sensitive Information: Banks will never request your PIN, online banking passwords, or ask you to transfer funds over the phone.
- Verify the Caller: If in doubt, end the call and contact your bank directly using their official customer service number.
- Review SMS Messages Carefully: Read SMS OTP or Viber OTP messages thoroughly and ensure they match the context of your transactions.
- Reject Instructions for Transfers: Never transfer funds or input codes suggested by a caller.
The warning follows a high-profile scam in Greece, which emptied the bank accounts of a Greek family in Volos, leading to a request for Interpol’s assistance. A scammer posing as a bank employee called the businessman and falsely claimed his accounts were compromised. Using the bank’s genuine phone number (spoofed via technology), the fraudster guided the victim to perform actions under the pretense of securing his account, ultimately stealing all funds. The family lost tens of thousands of euros.
