National Bank Issues Alarm over Involvement of Youth and Retirees in questionable Activities
In a recent statement, the National Bank of Kazakhstan has issued a warning about an increase in fraudulent schemes involving bank cards. The bank is urging citizens to be vigilant and protect their bank card information.
Recruitment for these schemes is often done through social media, messengers, and other digital platforms. Criminals promise easy and quick money to lure individuals into these schemes. Once they gain access to your bank card details, they use them for illegal financial operations, including withdrawing money obtained through fraudulent activities.
These schemes involve the use of 'money mules', individuals who hand over their bank cards and open bank accounts for money laundering. Young people and pensioners are being targeted and recruited for these illegal activities.
To identify and avoid becoming a money mule, be wary if contacted via social media, email, or messaging apps to use your bank account for receiving or forwarding money, especially if the offer seems too good to be true or requires little work. Legitimate jobs rarely ask you to handle money transfers or receive payments into your personal bank account on someone else’s behalf. If asked to receive funds and quickly forward them, especially to overseas accounts, this is a strong red flag.
Allowing others to use your bank account for transfers can implicate you in money laundering or fraud. Criminals rely on these “mule accounts” to obscure the origin and movement of illicit funds.
The National Bank of Kazakhstan advises citizens not to hand over their bank cards and their details to anyone, including login data for mobile banking. If you have doubts, you are recommended to consult with bank representatives. Immediately blocking and reporting lost cards to the bank is advised for citizens.
Participating in money mule schemes can lead to criminal liability in accordance with the Criminal Code of the Republic of Kazakhstan. The contact center at number 1477 is available for citizens who have doubts or need help.
The National Bank of Kazakhstan has not provided details about the extent or the nature of the fraudulent activities. However, they emphasize the need for citizens to be vigilant and protect their bank card information. The bank did not specify the measures it is taking to prevent or address this increase in fraudulent schemes.
Preventive measures from the National Bank of Kazakhstan and similar institutions typically include:
- Never accepting offers to transfer money on behalf of someone else.
- Protecting personal banking information and passwords.
- Reporting suspicious job offers or activities to the bank or law enforcement.
- Educating yourself about common fraud tactics and staying informed through official advisories.
By following these guidelines, you can help protect yourself from becoming a victim of bank card fraud schemes. Stay vigilant, and remember, if an offer seems too good to be true, it probably is.
- In light of the increase in fraudulent schemes, it's crucial for individuals to be aware that these schemes often involve the illegal use of technology and business transactions, such as money mules being contacted via social media, email, or messaging apps to manipulate personal bank account details for financial crimes.
- As part of the preventive measures, the National Bank of Kazakhstan advises citizens to stay vigilant about these schemes and to refrain from engaging in any business activities that involve the unauthorized use of finance, particularly those initiated through technology platforms, to avoid implications in money laundering or fraud.
