VTB reported a fraud scheme involving insurance and smartphone repairs

VTB Bank has identified a new fraud scheme in which it is proposed to diagnose the operation of a smartphone. Allegedly, in order to secure the device, attackers offer to repair or insure it.

As part of this scheme, scammers call bank clients, posing as bank support staff. To diagnose a smartphone, customers are sent a link to a fake website, whose interface is “created in the style of Russian bank websites.”

“On the website you can choose not only the operating system suitable for your smartphone, but also the manufacturer’s brand. However, if you install such an application or connect to a service, the client risks losing control over the online bank and his mobile device, which will ultimately lead to the theft of his money,” the bank’s press release says.

VTB noted that attackers “maximize the impact on the client, showing excessive concern and care.” In this case, scammers use a “hybrid scenario”, during which they use both an attack on the phone and a transfer to phishing sites and applications.

“In this way, every second client is impacted… We ask our clients to remain vigilant, critically evaluate any proposals from unknown people and immediately contact the source,” said VTB Senior Vice President Nikita Chugunov.

In July, the State Duma of the Russian Federation immediately in the second and third readings passed the law, according to which Russian banks must check all money transfers from individuals, suspend suspicious transactions and fully refund funds transferred to the accounts of criminals. In September the Central Bank turned on fraud risks in bank card insurance policies.

Laura Keffer