Fraudsters target seniors and banks in Germany and Austria

Authorities in Germany and Austria are issuing widespread warnings regarding various fraudulent schemes targeting individuals, particularly the elderly.

In Germany, police in Erfurt reported two separate incidents where seniors were defrauded of approximately 18,000 euros in cash and jewelry through impersonation tactics. In Stollberg, a man lost 34,000 euros after receiving a fraudulent SMS appearing to be from a credit card provider. Additionally, the Diepholz police warned of ‘Pig Butchering’ scams, where a senior was defrauded of 167,000 euros through fake cryptocurrency investments. The Deutsche Rentenversicherung has also issued alerts regarding phishing attempts via email, SMS, and phone calls.

In Austria, the bank BAWAG warned customers of fraudulent automated calls claiming unverified transactions of over 1,000 euros. Simultaneously, the Austrian Federal Criminal Police Office (Bundeskriminalamt) launched a prevention campaign against ‘shock calls.’ In these scams, criminals impersonate police officers, doctors, or lawyers to claim a relative is in an emergency, such as a car accident, to pressure victims into paying immediate bail or medical fees.