Investing in fixed deposits is considered to be particularly safe.
But future investors should be careful: false brokers are trying to trick customers with a new, deceptively real trick.
Bremen – The North Rhine-Westphalia consumer advice center warns against web portals or consulting firms that provide supposedly good fixed-term deposit offers.
The fraudsters take advantage of the fact that consumers want to benefit from the increased interest rates for overnight and fixed-term deposits.
They lure you in with high but not unbelievable interest rate offers.
IBAN trick: Fraudsters provide offers for fixed-term deposits
The fraudsters advertise with offers that they convey via web portals or consulting firms.
It is tempting that the conditions for fixed-term deposits are much more attractive compared to offers from reputable banks - without being utopian.
According to experts, for example, you should be suspicious of offers for a 12-month fixed-term deposit at 4.25 percent interest.
Consumer advocates always advise comparisons with reputable time deposit offers.
The scam: Whoever contacts the intermediaries receives fake application forms with which connections to partner banks are pretended.
The customer is even redirected to what appear to be genuine but false account opening applications.
The partner banks do not know anything about a cooperation with the apparent fixed-term deposit brokers.
Consumer advice center warns: Customers lose money through incorrect transfers to foreign IBANs
The next step is for the customer to transfer the desired amount of money to the new account, which usually has a foreign IBAN.
As the consumer advice center explains, the money then goes to an account with a real bank, but it is in the scammer's name.
The concept works because banks do not have to check whether the name matches the IBAN when making transfers.
The customer does not pay into a fixed deposit account as promised, but into that of a fraudster.
After the transaction, some even receive a fake bank statement from the supposed intermediaries.
But then at the latest the contact breaks off.
Cheated consumers reported to the consumer advice center and reported unanswered inquiries, online access data that had never been sent and false technical problems.
Getting to grips with the IBAN trick: Asking the bank and researching on the Internet can protect against fraud
The risk of falling for this scam is high.
As with some specific phone calls or letters from collection agencies, consumers should exercise caution.
It is therefore important to find out in advance whether a web portal or a consulting firm is reputable, according to the experts.
The consumer advice center and the consumer portal
Chip365
advise you to pay attention to the following things:
Check whether the provider is on the list of companies of the Federal
Financial Supervisory Authority (BaFin)
and is therefore licensed for financial services.
Ask the supposed partner bank whether there is a time deposit offer and a cooperation with the provider at all.
Check the imprint and compare it with other data from the intermediaries.
If it is available on the website, but possibly with a different home address or telephone number, this can be an indication of fraudsters.
But be careful: Even a complete imprint does not offer comprehensive security, as it could be a letterbox company.
Check VAT identification number: The validity can be checked on the website of the European Commission: https://ec.europa.eu/taxation_customs/vies/#/vat-validation
Also: If the business address is abroad, consumers should be particularly careful.
Every customer should take a very close look at the provider and research it on the Internet.
However, good ratings and an imprint can also be fake.
The consumer advice center warns against being carelessly deceived by seemingly trustworthy Internet presences with supposed awards.
Signal words such as top interest rates or 100 percent security should be understood as a warning, because exaggerated promises are typical of dubious offers.
Pressure to conclude a contract quickly is also an indication.
If the bank does not provide thorough legitimation when creating the account, such as a postal or video identification procedure, this also indicates fraud.
Victims of such scams should seek legal advice and file a complaint.
(lea)
