site.btaBulgaria’s Organized Crime Police Unit Reports First Euro-Related Cyber Fraud

General Directorate Combating Organised Crime (GDCOC) received its first report of cyber fraud related to the introduction of the euro in Bulgaria, Senior Commissioner Vladimir Dimitrov, head of the Cybercrime Directorate, said on Friday.

A few days ago, fraudsters contacted a Bulgarian victim using a widely known encrypted messaging application, Dimitrov explained. About BGN 10,000 was redirected to cryptocurrency platforms, other online payment platforms, and for utility bills and services. Part of the funds has been recovered, while the remainder has already been used, he said. So far, all leads point to an Asian country.

Dimitrov explained that GDCOC did not discover the case independently and was alerted to the fraud through a tip-off. This is the first computer crime connected to the euro's introduction in Bulgaria. The victim contacted the authorities, a report was filed, an investigation was launched, and the case will be referred to the prosecution in the coming days, he added.

The scammers’ account was linked to a phone number from an Asian country and featured the logo of the platform that the victim used. During the communication, the victim was told their funds needed to be transferred to an official account on the platform or they would be lost. She was also warned she would lose access to the payment application and her linked bank card.

The victim was deceived by two phishing messages, provided her personal information, and made several payments to a bank account specified by the fraudsters. Later, her payment application was compromised after she gave access, including two-factor authentication codes and other credentials needed to manage the application, Dimitrov said.

The victim used a globally recognized payment application. The scammers communicated via an encrypted chat platform, using the institution’s logo. They claimed to be customer support and told her to initiate the process of converting her leva to euro, Dimitrov said.

GDCOC urges Bulgarian citizens to exercise extreme caution regarding the euro’s introduction. Currency conversion and exchanging notes and coins will only be carried out by the Bulgarian National Bank, commercial banks in Bulgaria, and Bulgarian Posts. Any other messages, including phishing attempts, texts, chat app communications, emails or social media posts, are fraudulent, as the conversion process in Bulgaria follows official procedures, Dimitrov noted.

Citizens are advised to be careful when handling their finances. If in doubt, they should consult their bank, relatives or friends, and never respond to stressful phishing messages received via any channel, as these are fraudulent, Dimitrov added.

GDCOC advises citizens to regularly update their passwords, use antivirus software, and stay alert. Online communications claiming to involve dating, commercial offers, promotions, currency exchange, or the introduction of the euro should be viewed with caution, as these are common methods used in scams, Dimitrov said.