Number of online financial, banking crimes increasing in Moldova; General Police Inspectorate launches Stop False Investments! national campaign

Over 1,200 financial-banking crimes committed online causing damages exceeding 200 million lei, have been recorded in Moldova since the beginning of this year. The number of cases is rising compared to the same period last year, when 830 similar crimes were reported, with an estimated damage of 73 million lei.

The General Police Inspectorate (IGP) today launched the national campaign, Stop False Investments!, encouraging citizens to be vigilant against online scams.

The head of the National Police, Viorel Cernauteanu, highlighted that, in recent years, scamming techniques had evolved significantly, with most cases being recorded predominantly online.

"Scams have moved to a much more sophisticated extreme - online, where it is more challenging to identify the perpetrators behind this phenomenon. Most often, the online environment affects those who are less informed. Therefore, it is necessary that we join all our forces, in order to inform society massively; only in this way, can we reduce the number of cases. I am pleased that we have found the necessary resources and forces to combat this phenomenon, since we want to live in a free and democratic country, where criminal activity cannot find its place. I want this information campaign to reach 99.9 per cent of our citizens, so that they are aware of the existing risks and precautionary measures," said Viorel Cernauteanu.

For his part, Iurie Rosca, head of the Cyber Crime Combating Center at the National Investigation Inspectorate (INI), said that, in the last three years, internationally, there had been a significant increase in scams related to false investments on the internet, where people are lured by promises of quick profits.

"Technology has evolved at an impressive pace, transforming the way we work, communicate and conduct daily activities. Unfortunately, the quick development of technologies has not only brought benefits, but has also contributed to the emergence of an increasingly broad spectrum of criminal activities, including crimes based on social engineering, where criminals manipulate users to get personal data, passwords or money. Many users fail to recognize the manipulation ways used by cybercriminals, thus becoming victims of digital scams," Iurie Rosca said.

IGP’s data shows that perpetrators most often use sponsored ads published on various networks: Instagram, Facebook and even YouTube, offering quick monetary gains.

"In some cases, these ads are not only in textual form, but also in video content, including the application of artificial intelligence, using the voices or images of state officials or influential people. Once the victim accesses this video clip, he/she is redirected to a web platform where they are asked to leave their contact details. Subsequently, this person is called by a so-called representative of a platform who promises to help them achieve quick financial gains. The person is contacted dozens of times a day, in order to gain their trust and encourage investment. Initially, a relatively small sum is requested, between 200-500 euros, which is sent via bank transfer or cryptocurrency. For those who are not familiar with how to conduct a cryptocurrency transfer, it is suggested that they install TeamViewer or AnyDesk applications on their devices to assist them in making a transfer on that platform. In reality, suspects gain full control of the device, able to see any password and any transaction," noted Iurie Rosca.

After the victim requests the withdrawal of money from the account, the criminals demand additional amounts for taxes, legal services, or unlocking the account. More often than not, at this point, the victim realizes he/she was scammed and contacts the bank or the police.

‘’The second phase of the crime begins here, when scammers start calling the victim from other phone numbers, pretending to be lawyers or even representatives of Interpol/Europol, claiming they can help recover the money. In fact, they are the same scammers seeking to extort even more money. Most often, funds are transferred to foreign accounts. During the commission of the crime, individuals use informational technologies, such as VPNs, sophisticated technologies, internet telephony and location of call centers outside Moldova," Iurie Rosca also said.

The national campaign, Stop False Investments!, is to be conducted across the entire country. It includes numerous informational activities, the dissemination of informative spots - audio and video, the placement of informational panels and the distribution of leaflets. The actions will continue till late next November.