Compiled with the help of artificial intelligence, based on Spanish-language information. Source below the article.
Bank of Spain warns over ‘reverse Bizum’ scam
Plenty of people will know the feeling of waiting for that Bizum payment a friend promised after you covered the cost of their coffee. Bizum has become a payment method for millions of people thanks to how instantly and easily it lets users send money — but it is also a platform that cybercriminals exploit to defraud their victims.
The Bank of Spain has issued a warning about cybercriminals’ favourite methods when using Bizum, and one of them is the so-called “reverse Bizum”, a scam that can trick a victim into sending money while believing they are receiving it.
How the reverse Bizum scam works
The deception usually begins when a fake buyer contacts the victim, expressing interest in a product they are selling online. When it comes to paying for the item, the scammer sends a request via Bizum. The victim accepts it thinking it is a payment coming in, and the transaction ends up sending the money to the criminal.
The fake ‘sent by mistake’ trick
That is not the only method the criminals use. Another technique involves sending messages claiming that a transfer has been made by mistake and asking for the money to be returned. The victim, again trusting that the payment is genuine, quickly accepts the transaction without first checking whether the money has actually arrived or whether the amount matches.
Tips to stay safe
The Bank of Spain advises members of the public to take extra care and follow a few basic guidelines to guarantee their safety:
Receiving money does not require confirmation. A Bizum payment is credited automatically, so if you are asked to confirm something, be suspicious. Check the notification carefully before taking any action in your banking app. Be wary of anyone using an urgent tone and demanding that you act quickly. Contact your bank directly if you have any suspicions.
If you have fallen victim to the fraud, the best course of action is to file a report with the National Police or the Civil Guard, presenting evidence that reveals the scam.
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