Bizum is an incredibly convenient tool that offers a seamless way to transfer money to others. Its widespread popularity, however, has also made it an enticing target for cybercriminals seeking to exploit any opportunity to deceive and obtain people’s money. The convergence of Bizum’s usage and the widespread use of WhatsApp further amplifies the risk, creating a fertile ground for those looking to exploit the trust and innocence of users in order to gain access to their personal data, control their devices, or acquire their banking credentials. Unfortunately, we are all vulnerable to such threats.
Caixabank has taken the initiative to remind us of the most prevalent scams that we may encounter in relation to Bizum.
The most classic scams of Bizum
Among the various risks we face that can result in financial losses, there are certain patterns that tend to recur more frequently. These common risks pose significant threats to our money and require our attention and vigilance.
The reverse bizum
Among the various risks that pose a threat to our finances, certain scams tend to occur more frequently. The reverse Bizum scam is one such tactic that has gained prominence and has been repeatedly highlighted by authorities like the Civil Guard, INCIBE, and Caixabank. This scheme involves criminals deceiving users into sending them money under the false pretense of receiving a payment, when in reality, the victims unwittingly authorize a transfer of funds from their own account.
A variation of this scam takes the form of a “false return.” Victims receive a WhatsApp message requesting them to return an amount that was supposedly sent by mistake to their phone. Exploiting Bizum’s reliance on phone identity, the scammers can easily reach out to their targets. The key aspect of this scheme is that the initial amount requested for return is relatively small, but the scammers expect the victim to return a significantly larger sum.
Payments by hand safe apps
In this scenario, cybercriminals exploit the trust of sellers on online platforms like Wallapop or Vinted. They express interest in purchasing an item and, after gaining the seller’s trust, they propose using a payment app for the transaction. Exploiting the seller’s presumed unfamiliarity with the app, the scammers send a payment request instead of actually transferring the agreed-upon amount, deceiving the seller in the process.
Paying in advance
Another common scam involves receiving a message via WhatsApp or any other messaging app, wherein the sender requests an upfront payment for a product advertised online. In such instances, it is advisable to utilize the payment gateways provided by various buying and selling apps available on application marketplaces. It is recommended to refrain from sending money through Bizum to mitigate the risk of falling victim to this type of scam.
What do I do if I have been deceived?
According to the Caixabank blog, if you are a customer of the bank, it is strongly advised to contact them in the event of encountering such a scam. For non-customers, it is recommended to immediately call your own bank. Following that, you should gather the transaction details and bank statements and proceed to file a complaint at the local police station or Civil Guard barracks. Initially, it may be difficult for the bank to refund the amount sent through Bizum, hence the importance of taking appropriate legal action by reporting the incident.