Elena Gocmen Rueda
BIZUM fraud is on the rise due to the increased use of phone payments instead of cash.
One of the main scams is to make an offer to buy an item using the payment network, but instead of sending the money they request a payment.
The victim then receives a notification with the agreed amount and, through inattention, approves the payment thinking they were actually receiving it.
The money is instantly paid into the scammer’s account, who then ignores messages from the victim.
Fraudulent calls from so-called telephone companies have also been reported. They contact customers promising a discount which they associate with Bizum.
They are led to believe that they will receive a PIN to confirm the offer but it is in fact an attempt to get your account details.
Victims of such scams should contact their bank immediately. Subsequently, a complaint has to be filed with the nearest national police headquarters.
Since June 15 the maximum number of monthly transfers that can be received by an individual user has been reduced from 150 to 60 in an effort to reduce the scope of such fraud.
Business users still have access to unlimited transactions.
READ MORE:
- EU-funded law agency helps smash complex Spanish VAT fraud scheme that netted €26 million
- British man accused of pension fund fraud is arrested hiding out on Spain’s Costa Blanca
- ‘CRYPTO-CON’ as investors sue for €250 million in first-ever crypto-currency fraud case before Spain’s National Court
