The Cabinet Division has issued an advisory on financial fraud and forgery named “Prevention Against Financial Scam Activities – Impersonation as Govt Officials”.
According to the advisory issued by the cabinet division, financial crimes have increased tremendously in recent days. Scammers are using the latest techniques like phishing, smashing, and vishing to execute these banking and financial crimes.
According to the advisory, these scammers introduce themselves as government officials like officers from the Federal Investigation Agency (FIA) State Bank of Pakistan (SBP), and the Defense Forces’ other departments. These scammers are using fake official landline numbers and government department logos on WhatsApp DP through call-cloning services.
Online banking users are continuously falling prey to these scammers primarily due to a lack of cyber security awareness, as well as advanced social engineering tactics used by scammers like call cloning, malicious apps, and fake websites. As a result, malicious actors deceitfully withdraw money from user’s accounts.
According to the advisory, scammers are using spoofed websites appearing to be State Bank of Pakistan legitimate verification websites and asking victims to upload personal financial details on the website in reference to the Pakistan Army Poverty Alleviation and Revival of Economy Campaign. The fake website of the State Bank of Pakistan for verification being referred is (statebankverificaiton.wixsite.com)
According to the cabinet division, fraudsters call by posing as bank officials or bank managers and ask for personally identifiable information (PII) like internet banking username, CNIC number, debit card number, and debit card pin. Fraudsters also ask the user for a one-time password OPT. If the customer sends it to them, they withdraw the money by accessing the banking account online. Fraudsters also send users a link on WhatsApp asking them to click it and enter personal information.
According to the cabinet division, there is no technical solution for detecting and eradicating social engineering completely; however, safe usage of mobile, computers and compliance with security guidelines is the only way forward. Scammers are equipped with the latest technology for masking official numbers of banks. Users are advised to remain vigilant and call the banking helpline themselves, immediately to verify any suspicious call.
The advisory has asked the users to not provide sensitive information over the phone to anyone, especially passwords, CNIC numbers, and Debit/Credit Card PINs. According to the advisory, banks do not ask for such information over the phone except when the user calls them for activation of a debit card or internet banking account.
The advisory has asked the users to always pay attention to suspicious numbers that do not look like real mobile phone numbers and be aware of false SMS regarding lottery schemes, Benazir Income Support Program prize offers, etc. All such offers are bogus. All clickable links or SMS to earn money offers are counterfeit.
The advisory has suggested that users shouldn’t trust and reply to anonymous emotional SMS and always use multi-factor authentication (MFA) on Internet Banking Apps, WhatsApp, social media, and Gmail accounts. It has asked to always keep a strong password for email or online accounts and regularly change passwords to prevent hacking.
The advisory has asked the users to review app details, number of downloads, user reviews, comments, and “additional information” section before downloading/installing apps on Android devices and install updated, reputed, and licensed antivirus, anti-malware, and anti-phishing solutions on PC and mobile devices. After installation, scan the suspected device with an antivirus solution to detect and clean infections.
