Fighting against fraud

As Oberbank, it is our concern to ensure the security of your money. In an era where fraud is becoming increasingly polished, it is our duty to inform you as best as we can. The following notes serve as a source of information to educate you about various forms of fraud in online banking, show you how to recognize them and provide you with tools to effectively protect your assets.

Phishing   Fraudulent Invoice   Investment Fraud   False Police Officer   Hello Mom / Hello Dad   Second-Hand Scam   Love Scam

Phishing

Phishing is a fraudulent method where criminals attempt to obtain your personal and financial information by posing as trustworthy organizations.

• Phishing via Email
  Phishing via email works by fraudsters luring their victims with fake emails, attachments, and links. They send manipulated attachments or links that, when clicked, install spyware on the device or redirect the victims to counterfeit websites. There, victims are asked to divulge sensitive data like login information.
  
  How to Protect Yourself
  - Be wary of unexpected emails and check the sender.
  - Check the URL before clicking: Hover over links to see the actual URL in the status bar of your browser. Look for minor discrepancies or strangely-looking URLs.
  - Phishing emails often contain coercive elements or deadlines to force you to act.
  - Do not open attachments from unknown senders. They could contain malicious software.
  - Pay attention to spelling and grammar: Many phishing emails have poor grammar or spelling errors that can be a sign of fraud.
  - Oberbank will never ask for your access data, credit card number, or other personal information via email.

• Phishing via Telephone
  Fraudsters pose as employees of Oberbank over the phone. They contact you under a pretext that often sounds urgent, such as a security issue with your account or a necessary verification of your personal data to protect your account from an alleged risk. During the conversation, the fraudsters try to gain your trust and prompt you to reveal sensitive information, such as your account number, online banking access data, or passwords. Sometimes, they also ask for the authorization of certain transactions that are supposedly necessary for verification or to fend off threats.
  
  Should you receive such a suspicious call, it is important to hang up immediately and notify Oberbank right away.

Fraudulent Invoice

Fraudsters pretend to be a customer with whom you have a business relationship. The message prompts you to direct future payments to a new, but fraudulent bank account. This can be particularly convincing for businesses that regularly conduct transactions with other business partners. The damage occurs when payments are sent to these false accounts, resulting in financial losses for the defrauded company or individual.

To protect yourself from this scam, it is important to verify any change in bank details through a second, trusted communication channel. This could be a direct call to the supposed sender of the email, but using a number that has been independently verified and not the contact number provided in the email.

Investment Fraud

Are you currently being presented with an investment opportunity that sounds too fantastic to be true? Do you feel pressured to act immediately to seize this supposed life-changing chance? If so, be especially cautious and avoid making hasty or impulsive decisions. Often, this type of fraud occurs when an "investment advisor" or "broker" contacts you unexpectedly, possibly even as a result of your activities on social media. These fraudulent investment schemes can appear absolutely legitimate at first glance, with a well-designed website and supposed success stories, perhaps even endorsed by a celebrity. There is a risk that you will be persuaded to make ever larger or more frequent investments, allegedly with little or no risk to your capital.

Here are some important points to consider:

• Do not be deceived by promises of quick profits or "get rich quick" schemes. Fraudsters rely on convincing their victims to transfer money into crypto wallets or disclose personal identity information to open a trading account.
• Conduct your own research, especially by checking the register of the Financial Market Authority (or an equivalent local register). Ensure that the investment company in question is legitimate and has the necessary approvals.
• Make sure that the contact details of the "advisor" match the official entries. A mismatch could be an indication of fraud.
• Be wary of fraudulent schemes promoted on social media or endorsed by celebrities. Do not click on links in social media posts; instead, use independent sources to verify the authenticity of the company and the scheme.
• Do not be pressured into making quick investments or opening an account. Take the time to thoroughly research.

False Police Officer

Fraudsters pretend to be police officers. They falsely claim that your financial security is at risk or that they require your cooperation in ongoing investigations. Their goal is to induce you to divulge valuable personal and financial information or to persuade you to transfer money to supposedly secure accounts.

Please be aware that official police forces would never ask for personal or financial details over the phone or urge you to make any money transactions. If you receive such a call, we recommend you to be extremely cautious. Do not share any information and do not follow any instructions given to you. End the conversation immediately and contact the police using their official contact details to report the incident.

"Hello Mom / Hello Dad"

The "Hello Mom / Hello Dad" trick is a fraudulent scheme where criminals pretend to be close family members or friends to gain the trust of their victims. The aim is to gain money or personal information. This scam is based on emotional manipulation and can affect people of all ages.

Features of the "Hello Mom / Hello Dad" Trick:

• False Identity: Fraudsters impersonate familiar people from the victims' social circles over the phone. They often use information from public sources to appear credible and gain trust.
• Urgent Plea for Help: The fraudsters create a sense of urgency by faking an emergency situation, such as an accident or legal troubles. They pressure their victims to provoke a quick and unconsidered reaction.
• Request for Money or Information: Once trust has been established, the fraudsters request money transfers or the release of personal information, like bank details. The emotional bond of the victim with the supposed relatives is exploited to access this information.

Protection against the Hello Mom / Hello Dad Trick:

• Verify Identity: It's important to verify the identity of the caller, especially when financial matters are involved. Asking the supposed relatives or friends through alternative communication means can help confirm the authenticity of the call.
• Be Wary of Pressure Situations: In situations where sudden pressure or an emergency is described, caution should be exercised. Fraudsters often use emotional urgency to force quick decisions. It is advisable to take time to reconsider the situation and not act hastily.

Second-Hand Scam

On Second-Hand platforms like Willhaben, Vinted, or eBay, fraudulent activities are common. The perpetrators particularly target newly registered sellers and use the platform's chat function for this purpose. They pose as potential buyers, contact you, and request an email address to shift communication from the platform to email.

If you comply with this request, you receive a link purportedly for "completing the sale." However, this link leads to a fake website that resembles the design of the genuine sales platform. On this counterfeit page, it is claimed that the sellers' bank account requires "verification." In reality, this phishing page is a sophisticated ruse to extract the victims' online banking credentials.

Love Scam

Romance scamming describes a form of fraud in which criminals online pose as potential romantic partners. Over time, they establish what seems to be a trusting and romantic relationship with you, with their sole aim being to financially benefit from you. Despite promises of soon meeting in person, this meeting never occurs.

Once the victims' trust is established, the fraudsters begin to ask for money citing various fabricated emergencies. The invented reasons vary from family tragedies, severe accidents, and unexpected job losses to dramatic stories about being in war zones, unpaid medical bills, or legal troubles. Often, they also claim that the money is needed to afford the journey to meet you.