Internet Banking Crime in Pakistan. Can we learn from European Cybercrime Centre?

OpinionInternet Banking Crime in Pakistan. Can we learn from European Cybercrime Centre?

Islamabad, Pakistan: Various scams involving fake Mobile Phone Calls and SMS are again rising. Internet Banking fraud is reported every day and banks are sending alerts to their clients about this spike in internet banking scams. However, nothing substantial has yet been seen taking place from the concerned authorities to prevent the malpractice.

The prevailing variety of mobile and internet scams have cost huge financial losses to numerous people, and in particular, naive people easily fall prey to fraudulent activities.

   

In recent times, the miscreants have found multiple ways of modus operandi to deceive the people whether they send messages to the people from various numbers or call the people in the guise of any bank or cellular company representative for penetrating into the confidential information about bank accounts, etc.

There is a saying everything happens for a reason. When it comes to cybercrime, this seems to be an accurate statement. Criminals will target individuals with a very specific reason in mind: steal their money and their personal data. In order to do so, they look for any weak points of entry that they can use to implement their scams and extortion plans. One of the solutions to this threat lies within the field of crime prevention – the more aware individuals are of potential cyber scams, the more prepared and secure they can be.

An essential way to boost awareness is to make sure that the public stays up to date with any new tricks that criminals might have up their sleeves. In order to address this, Europol’s European Cybercrime Centre (EC3) and the European Banking Federation (EBF) have launched Cyber Scams 2.0, a reviewed and updated version of the 2018 Cyber Scams campaign. Over the next two weeks, the new materials, available in eight languages, will be promoted on social media channels by national law enforcement agencies (LEAs), banking associations, and other cybercrime fighters.

Mobile Banking, Internet Banking flourishing in Pakistan

Cyber Scams 2.0 is an excellent example of public-private cooperation, with EU banks and law enforcement agencies coming together to help build a more cyber-resilient society. The EU’s annual campaign is dedicated to promoting cybersecurity. Can our government not launch such initiatives to save people before they lost what they have in their banks?

 

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