Ukrainian law enforcement has shut down 94 fraudulent call centers operating across the country in a coordinated national sweep. The centers ran two types of scams: investment fraud, in which operators posed as financial advisers to push victims into fake high-yield schemes, and bank account takeover fraud, in which callers impersonated bank staff to trick targets into handing over credentials or one-time codes. Authorities seized millions in cash during the raids and detained hundreds of operators.
Operations like these are a reminder that the person on the other end of an urgent call about your bank account, an unexpected investment opportunity, or a suspicious transaction on your card is statistically more likely to be a scammer than a legitimate representative. Banks and regulated brokers do not call customers out of the blue and ask for PINs, one-time passwords, or wire transfers. If you receive such a call, hang up and call the institution’s official number from their website or the back of your card — never call back the number the caller gave you.