This is how code fraud works 21: First it steals the bank’s money and then comment on scams in your name

Cybercriminals have found a simple way to commit cyber crimes with the one known as code fraud or loan cancellation, which steals the bank information of the victims and supplants their identity to request a loan in your name.

It is a scam that begins with an attack of ‘Smishing’, in which cybercriminals get through the bank to make users believe that whoever is getting in touch with them is an operator of their entity through an SMS message.

In this text message, criminals They try to confuse the user using the pretext of a possible security gap in their client accountwhere he points out that in this contact the malicious actors request data such as the full signature key or the electronic signature.

When requesting private access keys, scammers will also invite victims to Insert the 21 code between asterisks (*21*), followed by a telephone numberwith the excuse that when adding that command you can have safer communications with the bank.

This way, They get the calls that the bank would make to the client are diverted to cybercriminalsallowing them to confirm the operations with the ‘Voice Bot’ of the entity. So, Once they have achieved the data and keys of the victim, cybercriminals will be able to request a loan in their name.

This means that when the user enters his electronic banking app or on the bank’s website, he will see that He has a loan in his name, requested without his knowledge or consent. Then, they will contact the user again to inform you that, due to an error, a loan has been granted.

To make the call more real, cybercriminals will give details of the total amount of the credit the opening commissions, the interests and the number of fees to be paid; A series of data to which the victim has given them access to the first attack of ‘Smishing’ or ‘Phishing’ by SMS.

Finally, and as an alleged solution to the problem, The attackers will give instructions to make a transfer of the money deposited and thus cancel the loan granted by error When, in reality, with that movement lThey will offer that the user transfers the money to an account controlled by the scammers.

To avoid falling into these frauds, it is advisable frequently modify digital passwords and keys and Be careful with the senders of the SMS receiveds. Taking into account that Banks never request complete user information through calls or messagesit is advisable to contact the entity through official routes to avoid scares.