Financial authorities warn of rising digital scams and phishing attacks

Financial institutions and authorities are issuing warnings regarding a rise in sophisticated digital scams targeting personal and student finances.

In Bhutan, banks have cautioned customers against fraudulent messages and social media pages that mimic legitimate banking identities. One bank reported losing approximately Nu 2 million to scams within a 12-day period. Authorities advise customers to verify account legitimacy through official channels and remind them that banks will never request passwords or One-Time Passwords (OTP) via unsolicited messages.

In the United Kingdom, fraudsters are targeting university students through coordinated phishing schemes designed to intercept loan payments. Scammers use urgent text messages, emails, or calls to direct students to cloned websites, where they steal login credentials. Earlier this year, criminals successfully defrauded 168 students of £519,000. With approximately £2.6 billion scheduled for distribution to 1.1 million students in England and Wales this month, authorities urge students to access accounts only through official government websites and avoid clicking links in unsolicited communications.