"Uncle's Tale": Why social engineering cases deserve more attention

When it comes to common financial crimes, the cases that are increasing the most are fraud. According to data from BioCatch, fraud cases grew by more than 32% in the region last year. Argentina, along with Colombia, appear to be the countries where this type of case is increasing. The three most common types of fraud are social engineering scams, i.e., the "theft" of data through deception; fraud stemming from stolen devices; and account takeovers , which can be a consequence of the first two cases.

In cases of social engineering, criminals go to great lengths to emotionally manipulate people and obtain confidential information, money, or access to systems. Rather than breaching technical systems, these scams rely on deceiving users by appealing to urgency, trust, or fear.

Some common cases include fake calls or emails from banks requesting personal information, WhatsApp messages from supposed relatives requesting urgent transfers, or fraudulent links imitating official websites to steal passwords (phishing). Social media scams are also common, where attackers pose as acquaintances or authority figures.

To avoid these scams, it's key not to share personal information or passwords over the phone, email, or social media, even if they appear to be legitimate communications. It's also crucial to always verify the identity of anyone contacting you through an alternative, official channel. Another piece of advice from experts is to activate two-step verification and keep your devices and passwords updated and protected. The best defense is prudent distrust and staying informed.