Crypto Phishing and Phone Scam

This scam involves fraudsters posing as authorities, contacting victims over phone or email and attempting to trick them into transferring cryptocurrency.

How the scam works:

Initial Contact: Fraudsters call or email the potential victim, claiming to be from a legitimate authority (e.g., Swiss government, police, or financial institution).
Fraud Alert: They inform the victim that there has been suspicious activity or fraud reported on their Swiss ID.
Urgency and Fear: The scammers create a sense of urgency and fear, convincing the victim that immediate action is required to secure their assets.
Crypto Transfer Request: They instruct the victim to transfer their funds to a "safe" crypto wallet to protect them from the alleged fraud.
Fake Verification: The fraudsters may use fake websites or documents to appear legitimate and gain the victim's trust.
Fund Transfer: Once the victim transfers the crypto funds, the scammers disappear, making it nearly impossible to recover the lost assets.

What you should do:

Verify the Caller: Always verify the identity of the caller by contacting the organization directly using official contact information.
Do Not Share Personal Information: Never share personal information, such as your full name, address, Swiss ID number, or place of work over the phone unless you are certain of the caller's identity.
Avoid Immediate Actions: Do not act immediately based on the caller's instructions. Take your time to verify the information.
Check for Red Flags: Be wary of calls that create a sense of urgency or fear. Legitimate organizations will not pressure you to act quickly.
Consult Trusted Sources: If in doubt, consult with trusted family members, friends, or financial advisors before taking any action.
Report Suspicious Activity: Report any suspicious calls or activities to the Swiss authorities or your financial institution.

What you should NOT do:

Do Not Panic: Scammers thrive on creating panic. Stay calm and think critically.
Do Not Transfer Funds: Never transfer funds to a crypto wallet based on instructions from an unsolicited call.
Do Not Click on Links: Avoid clicking on links or downloading attachments from unknown sources.

Remember, staying informed and cautious can help protect you from falling victim to such scams.

Stay safe and vigilant!

_{This article has been prepared by AMINA Bank AG (“AMINA”) in Switzerland. AMINA is a Swiss licensed bank and securities dealer with its head office and legal domicile in Switzerland. It is authorized and regulated by the Swiss Financial Market Supervisory Authority (“FINMA”). This document is published solely for educational purposes; it is not an advertisement nor a solicitation or an offer to buy or sell any financial investment or to participate in any particular investment strategy. This article is for publication only as permitted by applicable law. It is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or would subject AMINA to any registration or licensing requirement within such jurisdiction. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained in this document, except with respect to information concerning AMINA. The information is intended as general information. AMINA does not undertake to update or keep current this information. This article may not be reproduced, or copies circulated without prior authority of AMINA. AMINA accepts no liability whatsoever for any claims or lawsuits from any third parties arising from the use or distribution of this article.}