ATM scam alarm: recommendations to avoid emptying your account | Chronicle

The criminal robbery strategies they have advanced with the passage of time. So much so that a new modality that arose is called “skimming, which consists of the placement of tiny devices in the ATMs that copies the data and the card key used to withdraw money or make a banking operation on the machine. That is why it is important to pay attention and take all possible precautions to avoid being scam victim at the time of going to the ATM.

Swipe another card to enter the bank

In some branches, or depending on the time of day, it is common that to enter the ATM room you have to swipe the card through a reader at the front door. This could be the first point of contact with the device that acquires the card data, so it is recommended to use a different card than the one that will be used to withdraw money. Tip: with the SUBE card the door will open.

Check that the cashier has nothing suspicious

Many times, when in a hurry, the customer does not stop to check that there are no tricky items in the ATM, but it is important take the time to do it to avoid theft. Some of these fake parts can be: tiny cameras, dummy keyboards placed over the real one, a micro-device in or on the plastic entry slot.

Regarding the latter, it is advisable to check that the card entry slot is firm, without loose parts, traces of glue or any element that obstructs or protrudes. It is also important to pay attention to the slot through which the banknotes are delivered, it must not be open or blocked.

If the teller display says “cashier out of order” or shows abnormal messages do not need to insert the card.

If you see something suspicious, do not enter your password

In their “10 recommendations on the use of ATMs “, the Central Bank indicates “avoid the use of ATMs when messages or abnormal operating situations are encountered “. Never dial the password in any of the following situations:

– The machine does not detect the card, once it is entered, or a strange message appears

– If the card is retained and a stranger approaches, as if to help, and indicates that putting the key is the only way to remove it

– If the card was retained but the machine does not print a receipt about the situation

– If there is a third party nearby who could see your bank code

When entering the password, cover the keyboard and be cautious

Although it seems an exaggerated attitude, you have to be very careful when entering the PIN at the ATM, and thus prevent possible criminals from writing down or recording your password.

Not accept help

Criminals can even impersonate bank personnel, which is always better avoid help from third parties in these situations. In the case of not being able to solve the problem, always help her must be requested within the bank And even in that context you should never give your password to someone who helps you. The bank will never ask for your PIN, neither by mail, nor by phone, nor in person.

Not using an ATM following telephone instructions from a stranger

It is very common for a criminal to contact his potential victim by telephone and ask him to go to an ATM and inform him of the codes he uses without cutting off the communication. Some of the famous lines for the person to fall into the trap is to indicate that it is necessary to follow the instructions to lift a lock on your account, collect a prize, or access some banking benefit. It is important to know that a true operator of the bank will never require a password.

Take the tickets that the cashier gives

The garbage cans that are next to the ATMs are often overflowed with papers, these are the proofs of the cash withdrawal. When it comes to withdrawing, it is important not only to verify that you have withdrawn the card, but also take the receipt that the cashier delivers, since it contains sensitive data about the operation.

The BCRA also advises “periodically modify the access code or personal password or password and memorize instead of writing it down “ and holds that that password should not be the personal address, or the date of birth or another number that can be easily obtained from documents that are stored in the same location as the card.

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Scammers created a Bitcoins wallet and disappeared with $ 3.6 billion from investors in South Africa

Despite the huge theft of money in Bitcoins, the South African authorities cannot solve the case because the cryptocurrency is decentralized and no institution has control over it.

A new case of scam around Bitcoin has been known in recent days. On this occasion, the one involved is a company that was founded by two brothers in South Africa and goes by the name of Africrypt.

According to the newspaper Clarín, those responsible for the scam are two brothers identified as Ameer and Raees Cajee, who founded the cryptocurrency company in 2019 and had generated mistrust among their investment community for two months, when Africrypt stopped working.

You can read: App “Chivo” to receive Bitcoin puts personal data of users at risk

At that time, when its users began to complain and suspicions were raised, the brothers called for calm and affirmed that it was all because the company had been the victim of a hack.

Days after the alleged hack, the brothers disappeared with $ 3.6 billion that users of the Cape Town-based company had invested in Bitcoins.

Before disappearing, Ameer and Raees had asked their investors not to take legal action, while vowing that the situation would be resolved.

The scam committed by the Cajee brothers could be the largest in the short history of Bitcoin. Illustrative and non-commercial image / https://twitter.com/AfricaStoryLive/status/1408117635481485318/photo/1

According to media specialized in Bitcoin and other cryptocurrencies, the scam committed by the brothers could be the largest in the short history of virtual money.

When the brothers stopped responding to messages, many of the investors decided to hire companies like Hanekom Attorneys, to investigate what was happening.

Researchers managed to find what investors feared the most: their Bitcoins funds ceased to exist.

Read also: Record in seizure. UK seizes $ 160 million in Bitcoin used in money laundering

According to the information that was collected, the billions of dollars from investors were extracted from their digital portfolios, fragmented through “mixers” on the “dark web” and, from there, deposited them in hundreds of bank accounts always in South Africa, so tracking the money became impossible.

The seriousness of the situation, according to the researchers, is that because it is a decentralized cryptocurrency and without links with intermediaries such as banks or government institutions, solving the case is almost impossible, because the financial authorities of the African country simply do not have jurisdiction about the case.

One of the clues found by Hanekom Attorneys is that the brothers may have fled to England, however, their location is still a mystery.

.

Scammers created a Bitcoins wallet and disappeared with $ 3.6 billion from investors in South Africa

Despite the huge theft of money in Bitcoins, the South African authorities cannot solve the case because the cryptocurrency is decentralized and no institution has control over it.

A new case of scam around Bitcoin has been known in recent days. On this occasion, the one involved is a company that was founded by two brothers in South Africa and goes by the name of Africrypt.

According to the newspaper Clarín, those responsible for the scam are two brothers identified as Ameer and Raees Cajee, who founded the cryptocurrency company in 2019 and had generated mistrust among their investment community for two months, when Africrypt stopped working.

You can read: App “Chivo” to receive Bitcoin puts personal data of users at risk

At that time, when its users began to complain and suspicions were raised, the brothers called for calm and affirmed that it was all because the company had been the victim of a hack.

Days after the alleged hack, the brothers disappeared with $ 3.6 billion that users of the Cape Town-based company had invested in Bitcoins.

Before disappearing, Ameer and Raees had asked their investors not to take legal action, while vowing that the situation would be resolved.

The scam committed by the Cajee brothers could be the largest in the short history of Bitcoin. Illustrative and non-commercial image / https://twitter.com/AfricaStoryLive/status/1408117635481485318/photo/1

According to media specialized in Bitcoin and other cryptocurrencies, the scam committed by the brothers could be the largest in the short history of virtual money.

When the brothers stopped responding to messages, many of the investors decided to hire companies like Hanekom Attorneys, to investigate what was happening.

Researchers managed to find what investors feared the most: their Bitcoins funds ceased to exist.

Read also: Record in seizure. UK seizes $ 160 million in Bitcoin used in money laundering

According to the information that was collected, the billions of dollars from investors were extracted from their digital portfolios, fragmented through “mixers” on the “dark web” and, from there, deposited them in hundreds of bank accounts always in South Africa, so tracking the money became impossible.

The seriousness of the situation, according to the researchers, is that because it is a decentralized cryptocurrency and without links with intermediaries such as banks or government institutions, solving the case is almost impossible, because the financial authorities of the African country simply do not have jurisdiction about the case.

One of the clues found by Hanekom Attorneys is that the brothers may have fled to England, however, their location is still a mystery.

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5 cases of million-dollar scams with cryptocurrencies

The most recent case is the one that occurred in China, where 1,100 people were arrested across the country on Wednesday for being linked to a network of “fraudulent activities” related to cryptocurrencies.

The growing interest in cryptocurrencies in the world has been accompanied in recent years by the warning of international entities and organizations about the risks of being a highly volatile currency that lacks control.

Recently the cases of scams that have been on the rise. In countries such as Turkey, Spain and China, the authorities carry out large investigations in which millionaire fraud with the use of virtual money has been detected.

The volatility and lack of control of crypto assets increases the risk of illicit activities, according to expert economists in various parts of the world. Christine Lagarde, president of the European Central Bank recently requested the global regulation of Bitcoin as it is considered a highly speculative asset.

It may interest you:
IMF warns El Salvador of significant risks following approval of Bitcoin as legal tender

In an article published in the magazine “LÉNA hors les murs”, Lagarde points out that the blockchain, (it is used to refer to the core of crypto assets such as Bitcoin), also provide new opportunities, new risks.

“Users cannot trust crypto assets to maintain a stable value. They are highly volatile and speculative, so they do not fulfill all the functions of money, “he said in an article posted on the ECB’s website.

After El Salvador adopted Bitcoin as legal tender, the International Monetary Fund (IMF) also warned about the risks of the use of cryptocurrency which, it points out, involves a series of “macroeconomic, financial and legal” issues that must be “analyzed in depth”.

Gerry Rice, spokesman for the IMF stressed that “the use of cryptocurrencies can pose significant risks”, which is why he suggested that there should be “effective regulatory measures.”

According to data from the United States Federal Trade Commission (FTC), 7,000 people declared losses worth more than 80 million dollars in this area between last October and March.

Compared to the same period last year, complaints increased almost 12-fold and the amount of money stolen increased by almost 1,000%.

These are five cases of millionaire fraud with cryptocurrencies that are being investigated by the authorities in various countries of the world.

1. More than a thousand detainees in China who formed a network of Bitcoin scammers

China had been a bastion of the Bitcoin, the most widespread of virtual currencies. But Beijing took a radical turn in 2019 and banned payments in cryptocurrencies, accused of being instruments in the service of “criminal activities.”

1,100 people were arrested across the country on Wednesday, June 9, 2021, on suspicion of being part of a “criminal organization,” according to the Ministry of Public Security.

They are accused of using cryptocurrencies to “launder money” from phone and internet scams.

The arrests took place in Beijing, the neighboring Hebei region, the Shanxi (north) region and Liaoning, a province bordering North Korea.

The authorities did not specify the amounts involved or the cryptocurrencies used.

Also:
El Salvador will use Bitcoin despite the risk of becoming a tax haven, economists fear

In recent weeks, China tightened restrictions on so-called bitcoin mining, the energy-consuming process of creating cryptocurrencies.

2. Spain: The biggest cryptocurrency pyramid scam ever

The company in question is Arbistar 2.0 SL which operated in Spain and promoted itself as a platform specialized in trading, marketing analysis and software development to operate in the cryptocurrency market.

The Arbistar case became known last April. A Spanish court is investigating the case considered the largest cryptocurrency investment pyramid scam to have occurred in this country and whose amount could amount to 1oo million euros (120 million dollars). The authorities estimate that the number of those affected may reach 32,000 investors.

According to research, the company attracted investors by offering profitability of 8 and 15% per month and with practices that motivated them to invest larger amounts in the hope of having better returns.

Reference image, shows a chart of the price table of Bitcoin and other currencies. 3d illustration.

Arbistar began to be investigated after several of its clients requested to withdraw their funds last August and their request was not honored. Santiago Fuentes, who appears as the sole administrator and owner of a third of the investments, is the main investigated.

Audiencia Nacional, a Spanish court based in Madrid, has indicated that once Arbistar captured the client, he had to open an account or virtual space where he could carry out purchase and sale actions and register an electronic wallet to store the cryptocurrencies. Investors’ savings were moved to companies dedicated to the cryptocurrency business based in San Francisco and Estonia, and were then returned to the client’s electronic wallet, which in turn sent their contributions to Arbistar’s wallets, at the time the one that the contributions were outside the control of the investor.

In September Arbistar sent a series of messages to its clients and posted some videos on YouTube where it said that an error in the community bot (computer algorithm) had generated more interest than the real ones, which had caused a mismatch in the company’s accounts and in turn a liquidity problem.

Fuentes was arrested on October 22 for the crimes of aggravated fraud, falsification of commercial documents and criminal organization, while the case passed into the hands of the National High Court, the court in charge of major crimes such as organized crime. About 10 more people have an international arrest warrant.

3. Turkey: Thodex CEO flees with $ 2 billion in Turkey

Thodex, the leading cryptocurrency operator in Turkey, was the epicenter of a multi-billion dollar fraud that affected bitcoin around the world last April, after its founder and SEO, Faruk Fatih Ozer, the country’s $ 2 billion miner, affecting 391,000 investors.

After the scandal and closure of this currency exchange platform, around 70 people were arrested and another 15 were wanted by the justice, while a week after the biggest deception in the world of cryptocurrencies, bitcoin fell 9.7% after trading to $ 49,700, according to publication of specialized sites.

“The fall of bitcoin affected the rest of the cryptocurrency market that reversed the gains of the last week and affected assets such as Etherum, Binance Coin and XRP, among others,” reported the newspaper La Nación, which takes up a report from the trading site Coinmarketcrap in which it points out that the devaluation of the currency meant 18% in just one week.

A CCTV screen shot released by the Demiroren news agency on April 22, 2121 shows Thodex founder Faruk Fatih Ozer at Istanbul International Airport. AFP photo.

Read also:
El Salvador will use Bitcoin despite the risk of becoming a tax haven, economists fear

The Thodex platform was out of service since last April 21, in its social networks the company indicated that it was a closure for a few hours which was later extended to five days. As panic began to spread, the company said in a statement that all of its clients would receive their savings.

Thodex was created in 2017, the date from which it became one of the main cryptocurrency trading platforms in the country thanks to its large advertising campaigns in which famous actors and some government officials participated.

4. Turkey: Vebitcoin shuts down amid fraud allegations

In the same week, another cryptocurrency platform in Turkey closed operations amid allegations of fraud. It was Vebitcoin, where four employees were arrested and a large part of its clients withdrew. The company announced the closure noting financial tensions.

What’s more: Economist answers five questions about Bitcoin

“Due to recent developments in the crypto money industry, our transactions have become much more intense than expected,” the company said in a statement. Vebitcoin had a daily volume of almost $ 60 million.

The scam accusations came in the face of an imminent ban on the use of cryptocurrencies by the Turkish government in the face of a sharp drop in the local currency. In recent months, more people were looking to secure their savings through cryptocurrencies. Turkey announced a ban on this method for the payment of goods and services from April 30.

5. Group of “Fakes” Elon Musk Has Stolen $ 2 Million in Cryptocurrency Scams

The FTC (United States Federal Trade Commission) reported on May 17 that people posing as Elon Musk have stolen more than $ 2 million from investors since October 2020 in cryptocurrency scams.

This type of scam is based on “the promise that a celebrity associated with cryptocurrencies will multiply the cryptocurrencies you send to their wallet and return them to you,” according to the FTC.

The publications on his Twitter account and the public statements of Elon Musk, the head of Tesla – the American giant manufacturer of electric vehicles – usually make the price of several cryptocurrencies react sharply.

Last week, the billionaire businessman announced that Tesla would stop accepting bitcoin as a form of payment, considering that the virtual currency, whose creation requires immense amounts of energy, is too polluting.

According to the FTC, the average loss from a cryptocurrency scam is $ 1,900. It further notes that people between the ages of 20 and 49 are the most likely to be scammed.

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