Scammers steal €13.2 million from Estonian residents

Scammers stole €13.2 million from Estonian residents in the first half of the year, according to ERR. Police received 1,816 reports of phone and internet scams during the period.

Jaagup Toompuu, head of the Police and Border Guard Board’s centre for preventing and solving fraud, said the number of people making scam calls continues to grow. Although people may be generally more aware of scams, they are still falling for the same schemes as the year before.

More than half of the cases involved multi-stage phone scams. In these schemes, a victim receives a call from a service provider and is then directed to complete another step.

One common scheme begins with a caller claiming that a parcel has arrived for the victim from Tartu County Court, a court in Estonia. The victim is told that an action must be confirmed to receive the parcel. Instead of asking for a PIN, the scammers send a confirmation code.

“The person ends the call, and a few minutes later another call comes from the so-called bank security department,” Toompuu said.

The scammers then ask whether the victim has entered their details somewhere. If the victim confirms this, the caller claims that a police operation is under way. The victim is then guided by someone posing as a police officer.

“The story continues depending on where the person’s money is and how it can be moved,” Toompuu said. If possible, the scammers take control of the victim’s computer or phone remotely, or send a courier to collect cash. The victim is ultimately made to believe they are taking part in a police operation.

Scammers use familiar faces

Another common scheme is investment fraud. Scammers create fake websites and news stories featuring well-known Estonian people who supposedly discuss how they invest. Those used in the scams have included Arvo Pärt, Helle-Moonika Helme, Koit Pikaro and Ott Tänak.

The victim may then enter their details on the fake website. An investment broker contacts them and gives instructions on making transfers to a platform. The initial sums are usually around €250, after which the victim is advised to take out loans to invest more.

“Investment scams are distinctive because they last quite a long time, sometimes for months,” Toompuu said. They end only when all of the victim’s money has been taken or when the victim tries to withdraw their supposed virtual money from the portal.

Some victims are targeted again after losing money in an investment scam. They search online for ways to recover their funds and may come across sponsored posts from law firms or so-called ethical hackers promising to retrieve the money. The victims are asked to pay additional fees and are defrauded again.

Scammers do not know in advance how much money they can obtain from an individual. While they may take €40 from some people, they can obtain millions of euros through companies.

Anyone who falls victim to fraud should first call their bank and close their cards and accounts. If any money remains, they should also close their electronic identification tools before contacting the police.

“The police certainly do not carry out their procedures through WhatsApp video calls, as scammers claim,” Toompuu said.