Financial scams in the DR: 5 signs to avoid losing your money
Imagen: elDineroScammers do not need your face: they need you to respond. In the Dominican Republic, cases range from calls posing as your bank (vishing) to pyramid schemes with cryptocurrencies, like the one that ended in 8 years in prison for its organizer, according to the case reported by Listín Diario.
Sign 1: they ask for your password
No legitimate bank asks for passwords, codes or full data by phone, WhatsApp or email. The Superintendency of Banks published six tips to prevent bank scams: distrust anyone asking for sensitive information, never share passwords and hang up under any pressure.
Sign 2: urgency and fear
“Your account will be blocked”, “there is a suspicious charge”: urgency seeks to make you act without thinking. If you are pressured, hang up and contact your bank yourself through its official number.
Sign 3: unrealistic returns
Pyramid schemes promise fixed “no-risk” profits. If it sounds too good to be true, it is: every legitimate investment explains the risk. The authorities have issued guidelines for institutions to protect users’ data against these networks.
Sign 4: they contact you through social media
Recent arrests in the country include people who used social media to lure victims. Be wary of profiles offering easy loans or prizes in exchange for an “advance”.
What to do
- Never share verification codes with anyone, under any excuse.
- Always verify through the official channel: your bank’s app, website or branch.
- Report the attempt to your institution and to the authorities.
The golden rule: if someone contacts you asking for money or data, it is never your bank.
