BT Business Talks - Andrei Voicu, BT Anti-Fraud Director

Online frauds do not start with technology. They start with emotion

When we think about bank or online fraud, the first image that comes to mind is that of a hacker breaking passwords and sophisticated systems, in front of a laptop. In reality, things are much simpler — and much more human.

In a new episode BT Business Talks, Andrei Voicu, Anti-Fraud Director at Transilvania Bank, explains the mechanisms behind online frauds, the manipulation tactics used by criminals, and, most importantly, what we can concretely do to protect ourselves.

Manipulation, not hacking

Behind most frauds there are very well-constructed scenarios. Criminal groups often operate like organized call centers, with dozens or hundreds of people constantly contacting potential victims.

Their goal is not to "break" technology, but to manipulate people.

The most common emotions exploited are:

• opportunity — the promise of rapid investments and spectacular gains
• fear — urgent scenarios, such as "someone took out a loan in your name" or "your account is in danger"

In both cases the same pressure appears:
“You must act now.”

The trap of "sure-win" investments

One of the most widespread scenarios is that of fake investments.

Everything starts with an online advertisement that promises spectacular returns. After leaving contact details, the victim is quickly called by "consultants" who build an apparently legitimate relationship.

The experience seems convincing:

• platforms and applications with a professional look
• fictitious earnings displayed in the account
• constant pressure to invest increasingly larger amounts

The moment of truth comes when the victim tries to withdraw the money — or when they can no longer continue the investments.

What do you do if you have been a victim of fraud

If you have provided sensitive data or transferred money to attackers, act quickly:

• stop immediately any communication
• contact the bank and report the incident
• blocks and reissues cards
• change passwords and authentication methods
• check the phone and uninstall suspicious applications
• go to the police and file a complaint

It is important to know that attempts at fraud — even if they did not result in losses — must be reported. They can help identify criminal networks and protect other people.

At Banca Transilvania, we constantly work to prevent fraud and to protect your accounts: from monitoring transactions and detection systems, to information and guides about the most common types of scams.

If you are faced with a suspicious situation or believe you have been a victim of fraud, act immediately.
You can call the number dedicated exclusively to fraud assistance: 0264 308 055.

In addition, I have gathered all the essential information: from real fraud examples to practical advice, on the page of Online Safety.

Because, beyond technology, safety also depends on how quickly we react and how well we recognize the signs of a fraud .