Phone Scammers in Russia Exploit Bank Sanctions Fears

Phone scammers targeting Russian citizens have become more active, now using the topic of international sanctions against Russia to deceive unsuspecting people. These fraudsters are scaring individuals by claiming that they will be unable to withdraw their money from accounts held in banks that have been placed on sanction lists.

According to analysts at Group-IB, as reported by “RG,” scammers are focusing on the disconnection of Russian financial institutions from the international SWIFT system. The typical scam unfolds as follows: the fraudsters ask the “client” to transfer their funds to a so-called safe account, where the money will supposedly be secure. Of course, after such a transfer, the victim loses access to their savings.

In addition to this scheme, scammers may offer other services, such as assistance with preparing documents for leaving Russia or helping to avoid military conscription.

Increased scam activity has also been observed by Kaspersky Lab. Their service, Kaspersky Who Calls, has received user complaints about calls from criminals pretending to be bank representatives and using the SWIFT disconnection as a pretext. Special services allow scammers to spoof their phone numbers, making the calls appear more legitimate and reducing suspicion among potential victims.