Scams are becoming increasingly sophisticated – stop and think before you act

“Recognising online scams is becoming a basic civic skill. This time of the year, there are all kinds of online criminals after your Christmas shopping money. The threat may arrive by text message, email or instant messaging apps. Stay alert and do not rush to enter your online banking credentials anywhere,” says information security specialist Matias Mesiä from the NCSC-FI at Traficom.

According to data from Finance Finland, an industry organisation representing the Finnish financial sector, people in Finland lost EUR 62.9 million to scams last year. However, the real figure is even higher, as not all cases are reported to the authorities. Cooperation between banks, telecommunications operators and authorities prevents tens of millions of euros in losses every year – in 2024, banks blocked fraudulent payments amounting to EUR 44.3 million.

Criminals impersonate authorities and trusted actors

The NCSC-FI has received several reports this autumn about scam calls and messages in which criminals have posed as officials or experts. For example, callers pretending to be NCSC-FI specialists have claimed that victims’ phones were infected with viruses and have asked for online banking credentials or payment card details.

Criminals have also impersonated social workers and police officers, and have sent messages referring to child protection or other official matters. Financial losses in such scams have ranged from thousands to even hundreds of thousands of euros.

Scams via social media and messaging apps

Fraudsters are increasingly exploiting social media and instant messaging platforms such as WhatsApp and Teams. In recent months, several cases have been observed where criminals have approached victims through work-related or personal communication channels using disguised or impersonated messages.

Scams targeting organisations continue

This autumn, there have been reports of scams in which criminals have impersonated representatives of pension companies and asked customers to update their details on fake websites. 

The NCSC-FI also receives weekly reports of CEO fraud, in which criminals request urgent bank transfers, gift card purchases or payment of falsified invoices. These scams particularly target organisations where time pressure and internal trust make the criminals’ job easier.

Extortion and cryptocurrency scams on the rise

Extortion messages are being sent regularly under various themes. In the messages circulated during the summer, criminals claimed to have gained access to the victim’s device and demanded payment to a Bitcoin address. 

Cryptocurrency-related scams have also increased. Fraudsters send messages that appear to come from legitimate crypto services and try to trick users into revealing their login credentials.

How to recognise a scam

Criminals use a variety of tactics to make their victims act quickly:

• Fear-based manipulation: Messages may threaten account closure or claim criminal suspicion.
• Exploiting sympathy: Scammers claim there is an emergency and ask for money.
• Appealing to authority: The message appears to come from an official body or a bank. Finnish public authorities and banks will never ask you to provide sensitive information, usernames or online banking credentials by email or text message.
• Too good to be true: You receive a message about a prize draw win or a free gift card, even though you never entered a draw.
• Building trust: In romance or investment scams, trust is developed over time before money is requested.

If a message raises suspicion, do not act immediately. Verify the sender’s authenticity through official sources before clicking links, providing information or transferring money. If you suspect you have been targeted by a scam, contact your bank and report the incident to the police and the NCSC-FI.