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Public warned of rising financial fraud threats amidst global surge

May 06, Colombo (LNW): Sri Lanka Banks’ Association, LankaPay, and FinCSIRT have issued a joint notice to the public concerning recent incidents of financial fraud, both domestically and globally.

These fraudulent activities often masquerade as enticing online offers, leading unsuspecting mobile device users to inadvertently click on unknown links and download malicious apps and files.

This action grants scammers complete access to the mobile device, enabling remote control.

Once control of the mobile device is seized, fraudsters gain access to bank/payment apps installed on the device, facilitating theft from bank accounts and payment cards accessed via the compromised device, the statement emphasised.

In light of these risks, the general public is urged to exercise increased vigilance to avoid falling victim to such scams.

Fraudsters typically utilise social media platforms, websites, and online messaging platforms to perpetrate these fraudulent activities.

It is essential to note that reported fraud cases result from fraudsters gaining control of mobile devices and not from any security vulnerability within banking/payment apps, which adhere to international security standards.

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