Erste Bank warns of rising inheritance scams in Hungary

Cybersecurity experts at Erste Bank are warning of a rising trend in inheritance scams targeting individuals in Hungary. Scammers pose as lawyers, notaries, or bank officials to inform victims that they have inherited significant assets, such as real estate, gold mines, or large bank accounts, from a distant or unknown relative.

The fraud operates through a gradual escalation of financial demands. Victims are initially asked to pay small administrative fees, taxes, or legal costs to access the supposed fortune. Once the first payment is made, scammers request increasingly larger sums for various reasons, such as customs duties or unexpected legal hurdles. Payments are typically directed to private accounts or untraceable cryptocurrency wallets.

Beyond direct monetary theft, these criminals also aim to acquire sensitive personal and banking information through fraudulent links. This data can be used for further identity theft and financial crimes. Experts also note that scammers may hijack the social media profiles of acquaintances to request urgent loans, claiming they need funds to secure a large inheritance.