Cybercrime Southeast Europe Newsletter No. 103

When a Scam Does Not Steal Money – But Trust

Dear Clients,

This week, we would like to address an issue that has become increasingly common in recent years and often leaves consequences far more serious than financial loss alone.

When people think about online scams, they usually imagine hackers, complex computer programs, and technical vulnerabilities.

However, in many cases, modern scams today do not begin with technology.

They begin with a message:

“Hello, I accidentally came across your profile.”

They begin with a phone call:

“I’m calling from your bank.”

Or with a sentence such as:

“We can help you recover your lost money.”

That is precisely the essence of these scams – today, fraudsters often do not look for weaknesses in computers.

They look for weaknesses in trust.

It is particularly concerning that elderly individuals are often among the most vulnerable categories when it comes to these types of scams.

Not because they are less capable or less cautious, but because they grew up in a different environment, where trust carried a different meaning, and a call from a supposed bank representative or a message from someone asking for help did not automatically trigger suspicion.

In our practice, we have encountered various forms of such scams – from fake investment platforms and alleged brokers to emotional scams and fraudulent companies claiming to help victims recover previously lost funds.

What is especially concerning is the situation in which a person who has already suffered a financial loss becomes a target of new fraudulent attempts.

After losing money, victims are often contacted by alleged companies or “fund recovery specialists” promising assistance and successful recovery of funds, but only after an upfront payment.

The problem is that these are often not rescuers.

Very often, behind a new company name, a new website, and a new phone number, there is the same pattern of behavior – and sometimes even the same people.

Based on our experience, we believe it is particularly important to exercise caution whenever someone guarantees profits, promises quick returns, or offers to recover previously lost money in exchange for another payment.

It is important to keep in mind that fraudsters most often do not exploit a lack of knowledge.

They exploit trust.

Your DefendMe Team