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New types of financial fraud

Financial fraud schemes are becoming more sophisticated every time, and it is not always possible to recognize them the first time. The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market together with the Fingramota.kz project urges people to be cautious and talks about new types of possible fraud.
New types of financial fraud

Pseudo language courses

Financial pyramids are actively sending out invitations to language courses through instant messengers and social networks. Along with foreign languages, they offer affiliate programs to their clients with the prerequisite of purchasing a company's product for the purpose of personal use or sale. However, one must first invest a certain amount of money in a certain package of services for this. The most active participants by results of sales and attracting new people are allegedly guaranteed a high bonus exceeding the return on bank deposits or car.

The only way to avoid risks is to completely ignore such offers from dubious companies. Before parting with your money, collect information about this company, how long it has been operating, whether it has the appropriate license to carry out its activities. If there are a large number of dissatisfied or indignant comments, then this is a reason to think about whether you are being drawn into another financial pyramid.

Pseudo investments and false IPO

Fraudulent advertising of investment projects is actively promoted on the Internet, including social networks, as well as Youtube video hosting; the creators of which urge people to take part in the IPO of large domestic companies.

When credulous people leave their personal data, e-mail and mobile phone number, in the form proposed for filling out, scammers after a while will start calling them and manipulating them using social engineering methods. Their goal is to get full bank details of citizens, withdraw money from people’s accounts and issue fake loans.

For instance, to receive “dividends from the sale of the national natural resources” on one fraudulent platform, it is necessary to deposit 65 thousand tenge in order to be getting 150 thousand tenge every week provided that people follow the direct link under the video and enter their bank details cards. In fact, there will be no payment of interest, not to mention the return of invested funds: people will simply be left with nothing, and representatives of the alleged investment company will disappear having turned off all communication channels.

Fake utility bill or tax receipt

Attackers send people supposedly bank notifications asking them to pay a utility bill or tax debt. Out of ignorance, people automatically pay the bill, but the money does not go to its intended purpose but directly into the swindlers’ pockets. How not to fall for this bait and distinguish a real tax or utility bill from a fake one?

First of all, these notifications are sent by registered mail or to the taxpayer's personal account, as well as via the official mobile application.

Secondly, the fake receipt contains the word “Seller”, which is never found on an official paper from a government agency or public utility.

Thirdly, the logo of a state body or organization is indicated on the left corner of the document, and instead of the logo, the first letter of the name or surname is indicated in a fake bill. Take a look at the state body name, it is very similar to the real one: for example, “JSC Taxes of the Republic of Kazakhstan”, “JSC KazTransGas”. Compare it with the legal name of the state organization on its official website.

Fourthly, the real bill indicates the Department of State Revenues of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan: at the location of real estate and at the place of residence of the taxpayer - when paying tax on vehicles. The fake bill does not have it.

Fifthly, the state agency usually always considers the established deadlines for paying taxes. For example, for tax on vehicle it is no later than April 1, for property tax - no later than October 1. Therefore, notifications for each tax are sent before this deadline.

If you receive a doubtful bill, do not rush to immediately pay it. First, you need to compare it with the original. It's best to call your utility or tax office and check if they actually have sent you a bill payment notice.

You can also check the upcoming amount of taxes yourself in the relevant section of mobile banking (for example, “Government Services”), as well as through the “Upcoming Payments” service on the website of the State Revenue Committee of Kazakhstan, in the “E-salyq Azamat” application or egov.kz.

Photos are from open sources.

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