Fraudulent investment ads

In recent weeks, there has been a proliferation of fraudulent ads offering investments in well-known companies (ČEZ, Agrofert, Česká spořitelna etc.) or cryptocurrency. The ads usually appear on social networks, particularly Facebook, but you can also encounter them elsewhere.

What happens if you show interest? The scenario can look like this: You click on the offer and fill in your contact details. The fraudsters then call or send you an email pretending to be “investment advisors”.

The “advisors” will try to convince you to download a programme that allows remote connection to your computer or mobile device. They will explain to you that the programme is the only way they can help you with your investment account.

If you believe them, you will sign in to your internet banking and allow remote access. In the George Key app, you will then authorise anything the fraudsters send for confirmation. In other cases, you will copy the codes from authentication SMSs to your screen or, as the case may be, dictate the codes to the fraudsters over the phone.

Such fraud can take place over as many as two days. Under such scenario, you will send the payment yourself on the first day without yet having authorised remote access. The amount is usually not so large, say CZK 5 000. The next day, the fraudsters will call you again and convince you to give them remote access.

Do you believe this cannot happen to you? Maybe not. But you can be sure that many educated and cautious people have fallen for this scam. And have lost a lot of money.

What to be careful of and what never to do

Be wary when you see an investment ad.
Never instal a programme on your computer based on a phone call.
Never give a third party remote access to your computer.
Never confirm a transaction entered by a stranger.
Never share an authentication SMS code with a stranger.

If you become a victim of fraud, act fast

There is no need to feel foolish. Fraudsters use very clever and convincing techniques that even an experienced person who understands modern technologies can fall for. What is important, however, is to act fast.

Call 800 207 207 immediately and block your Banking IDentity or payment card if you shared the details with a stranger.
Ask to have any entered transactions cancelled (it is not always possible, however).
Report the crime to the Police of the Czech Republic.
Have your computer checked by an expert: they will uninstall the programme and purge your computer of any viruses.
Change your Banking IDentity login details.