35% of Latvian residents no longer answer calls from unknown numbers due to telephone scammers
A lack of trust in strangers has become the most popular tactic among Latvian residents to protect themselves from telephone scammers attempting to steal money or online banking passwords. Approximately 6 out of 10 people surveyed by market and public opinion research company Norstat Latvija do not engage in long conversations with strangers, while 35% do not answer calls from unknown numbers.
Telephone fraudster activity has reached truly alarming proportions. The survey found that at least 85% of Latvian residents have encountered fraud attempts in recent years. Negative personal experiences and information disseminated by the mass media about numerous cases of fraud have prompted people to develop protective mechanisms. 35% of all respondents have chosen a very radical approach and no longer answer calls from unknown numbers to avoid getting into discussions with strangers. Interestingly, young people are the most categorical. In the 18-29 age group, 42% of respondents do not respond to unknown numbers.
58% answer the phone but do not trust strangers, even if they claim to be police officers or bank employees. The rest are more lenient and ask the caller to prove their identity, while some rely on their intuition.
"Regular reports in the media about victims of telephone scammers seem to have reached everyone in the country, and people have clearly become more cautious. This is evidenced by survey data showing that absolutely none of the respondents trusts what strangers tell them anymore. People question what the caller says, want proof, or simply end the conversation. This makes the fraudsters' work more difficult and will hopefully reduce interest in our region. However, it is still too early to celebrate victory, as fraudsters are using increasingly sophisticated technology that is better able to fake people's voices and continue to look for new ways to catch people off guard in order to steal their money. That is why we have developed Cyber Risk Insurance, which will allow people to recover funds lost due to fraud, even if they themselves have transferred the funds or used fake websites," Don't lose your vigilance, urges Oskars Zvejnieks, Director of the Underwriting Department at BTA Baltic Insurance Company (hereinafter - BTA).
Overall, people tend to think that the methods they use will help them avoid fraud attempts. 57% of respondents believe that it is unlikely that they will ever be defrauded, but these people are concerned about the possibilities offered by new technologies to fake the voices of people close to them and thus "play on their emotions." 25% are completely confident that they will never be defrauded because they are too cautious and sceptical about the information they receive.
13% of respondents do not rule out the risk of fraud because they have already been in a situation where they almost lost money, while another 5% are concerned that they could fall victim to dishonest people if they are sufficiently skilled at convincing them that they are from a bank, law enforcement agency or hospital. 1% of all respondents regretfully admit that they have been defrauded and lost money at least once in their lives.
Cyber risk insurance, which is being offered for the first time in Latvia by the insurance company BTA, could become a solution in the fight against cybercriminals. The policy for private individuals protects against several types of cyber risks. BTA will compensate for losses if the insured person has entered their payment card details on a fake website and thus lost money, if an online store has not delivered the promised goods, if fraudsters obtain access passwords to online banking during a telephone conversation or if they steal money, for example, by sending an SMS with a fake hyperlink on behalf of a company. Compensation will also be available for emotional humiliation in the digital environment. By purchasing a policy, the customer automatically insures their life partner and children.
