Cyber Security Cyber Security

The impact of digitalisation on the business activities of banks is growing. However, this increasing digitalisation also entails the risk of becoming a victim of cyberattacks. Liechtenstein banks therefore invest considerable sums in IT security in order to offer their clients the best possible protection against cyberattacks.

In addition to the technical means of defence, however, raising the awareness of users of online services is of fundamental importance. The most frequent cause of attacks on the internet is still human fallibility. The methods of cyber scammers are becoming increasingly imaginative and are often difficult to detect. With cleverly forged e-mails, text messages, and spoofed websites, scammers manage to trick online users into revealing their personal, financial, and professional information or even initiating transactions. It is therefore particularly important for the Liechtenstein Bankers Association to continuously inform and sensitise the public. The most significant activities include regular participation in the European Cyber Security Month (ECSM), which takes place annually in October, and support for the Cyber Security Liechtenstein association.

As part of the ECSM, European Institutions, Europol, the European Banking Federation (EBF) and their partners from the public and private sectors within the EEA launch joint awarness campaigns on different topics related to cyber scams.

Below are general tips on how to better protect your personal, financial and professional data online, as well as information on the main types of cyber scam.

How to protect from cyber scam

General tips

Check your online accounts regularly.
Check your bank account regularly and report any suspicious activity to your bank.
Perform online payments only on secure websites (check the URL bar for the padlock and https) and using secure connections (choose a mobile network instead of public Wi-Fi).
Your bank will never ask you for sensitive information such as your online account credentials over the phone or email.
If an offer sounds too good to be true, it’s almost always a scam.
Keep your personal information safe and secure.
Be very careful about how much personal information you share on social network sites. Fraudsters can use your information and pictures to create a fake identity or to target you with a scam.
If you think that you have provided your account details to a scammer, contact your bank immediately.
- Always report any suspected fraud attempt to the police, even if you did not fall victim to the scam.
  Source: https://www.ebf.eu/ebf-media-centre/cyberscams/

Main types of cyber fraud and how to prevent them

Crypto Investement Scam
Scammers create fake cryptocurrency trading platforms or fake versions of official crypto wallets to deceive investors. These fake websites usually have similar, but slightly different domain names than the websites they are trying to imitate. Similarly, it happens that investment scammers claim that they can provide investors with high returns quickly and easily. But these crypto "investments" disappear directly into the scammer's wallet.
Crypto-Investment Scam
CEO fraud
Scammers pretend to be your CEO or senior representative in the organisation and trick you into paying a fake invoice or making an unauthorised transfer out of the business account.
CEO Fraud
Invoice fraud
Scammers pretend to be one of your clients/suppliers and trick you into paying future invoices into a different bank account.
Invoice Fraud
Phishing / Smishing / Vishing
Scammers call you, send you a text message or an email to trick you into sharing your personal, financial, or security information.
Vishing, Smishing & Phishing
Spoofed bank website fraud
Scammers use phishing emails purporting to be from a legitimate bank with a link to the spoofed website. Once you click on the link, various methods are used to collect your financial and personal information. The site will look like its legitimate counterpart, with small differences.
Spoofed Bank Websites
Romance scam
Scammers pretend to be interested in a romantic relationship. It commonly takes place on online dating websites, but scammers often use social media or email to make contact.
Romance Scam
Personal data theft
Scammers harvest your personal information via social media channels.
ID theft
Investment and online shopping scams
Scammers make you think they are offering a smart investment, or they present you with a great fake online offer.
Investment Scam & Online Shopping

Links

Europol

Cyber Security Month

Cyber Security Liechtenstein

FMA