Cybercrime Southeast Europe Newsletter No. 41

Dear clients,

In 2024, the Balkans were the scene of significant cyber scams that impacted individuals, companies, and even government institutions. Here’s an overview of the most notable cases that marked this year:

1. Ransomware Attacks on Companies and Public Institutions

Companies in Serbia, Croatia, and Bosnia and Herzegovina were targeted by sophisticated ransomware attacks. Cybercriminals infiltrated IT systems of large firms and demanded ransoms to decrypt locked data. One high-profile case involved an attack on a leading transport company in Croatia, causing multi-day operational disruptions and significant financial losses.

2. Phishing Campaigns Through Local Banks

Citizens across the region reported phishing emails posing as notifications from local banks. These messages contained fake links leading to websites identical to official banking portals, where criminals stole card details and account credentials. These scams caused massive damages, particularly among the elderly population.

3. Fake Online Stores and Suspicious E-Commerce

Hundreds of fake online stores appeared on social media, offering “amazing discounts” on tech gadgets, clothing, and footwear. Customers paid for items that never arrived. These scams were especially prevalent during holiday seasons when many people were looking for affordable gifts.

4. Cyberattacks on Small and Medium Enterprises

Small and medium-sized businesses, particularly those in the IT sector, were targeted by attacks involving the theft of business data and damage to reputations. One serious incident occurred in North Macedonia, where hackers infiltrated the system of a local IT company and sold their client databases to competitors.

5. Investment and Cryptocurrency Scams

Cryptocurrencies continued to be a magnet for scammers. Fake investment platforms promising quick and massive profits deceived hundreds of citizens across the Balkans. In one case, a group from Serbia organized an international scam worth several million euros, leaving local victims with devastating losses.

How to Protect Yourself from Cyber Scams

1. Stay Informed About Threats
   Learn about the latest scam methods and protection techniques. Follow reliable sources for updates on cybersecurity.
2. Verify Links and Messages
   Never click on links in emails or messages that seem suspicious. Check the sender’s address and look for spelling errors or unusual language in the message.
3. Protect Your Devices
   Use antivirus software and update it regularly. Install patches to ensure your device has the latest security updates.
4. Never Share Sensitive Information
   Do not share your passwords, PINs, or card numbers via phone, message, or email. Use two-factor authentication whenever possible.
5. Check the Legitimacy of Online Stores
   Only shop from verified stores with good reputations. If something seems too good to be true, it likely is.
6. Monitor Your Accounts Regularly
   Keep an eye on your bank accounts and credit cards to quickly detect any suspicious transactions.
7. Share Knowledge with Others
   Educate your friends and family, especially older individuals who are often the most vulnerable.

These protective measures will help you navigate the digital world safely and avoid falling into the traps of scammers. Staying informed and vigilant is essential to safeguard your financial and personal security.

Kind regards,
Zoran Miljaković
Attorney at Law