Czech bank customers lose 1.9 billion CZK to cybercrime

Cybercriminals in the Czech Republic have caused 1.9 billion CZK in damages to bank customers during the first seven months of this year, representing a 79 percent year-on-year increase. While fraudsters attempted to steal more than 10 billion CZK, banks successfully protected 81 percent of the threatened funds.

The number of attacks rose by 20 percent to 62,705 cases. The Czech Banking Association has launched its sixth educational campaign, #nePINdej!, to help the public recognize common cyber frauds.

Methods are becoming increasingly sophisticated through the use of artificial intelligence, including 'audiojacking' to mimic voices. Beyond digital theft, criminals are using psychological manipulation to force victims to withdraw large amounts of cash and hand it over physically to couriers. In some extreme cases, scammers have even demanded compromising photographs from victims to ensure compliance.