Fake utility workers: the Central Bank of Armenia warns of loans taken out in victims’ names
- Published
- Place
- Yerevan, Armenia
- Event date
- Past event —
Summary
The Central Bank of Armenia warned on Wednesday 4 November of a new scam used to take out loans in people’s names. Unknown individuals pose as utility company employees, contact their victims and then visit their homes. There, they obtain personal data and use it to register in banks’ mobile apps, passing remote identification and identity checks. This lets them open accounts, take out consumer loans and transfer the money to third parties, according to NEWS.am. The Central Bank is urging people to check the identity of these “employees” and to ask for their documents before letting them in or sharing any information. The warning comes as more and more banking services in Armenia can be used entirely online.
Analysis
This scheme is harder to spot than a phone scam: the fraudster is physically present and poses as a worker whose visit seems routine. There is no need to steal a bank card. Identity data is enough to open an account and apply for a loan remotely, a convenience designed to spare customers a trip to the branch. Victims may only discover the loan when the bank asks for the first repayment.
Possible consequences
Beyond the checks requested by the Central Bank, the usual precautions apply: share no personal data with unannounced visitors, call the company yourself to confirm it sent someone, and contact your bank about any loan you do not recognise.
