Bizum has probably become one of our country’s most popular payment methods last year. It is so popular that most Spanish banks have adopted this method because of its ease of use or the security it offers when making transactions. But all that glitters is not gold. Since the start of the pandemic, many users have reported having been victims of a Bizum scam attempt.
And it is that although the method has the same security method as any conventional transfer, most scams use social engineering to deceive their potential victims. We have compiled some of the most common scams around Bizum on this occasion.
THE SCAM OF THE 33 EUROS OF BIZUM
It was especially popular at the end of 2019 and was subsequently reported by the Internet User Safety Office (OSI). The scam in question was spread through WhatsApp as a chain and traces the operation of pyramid scams spread through the same application, such as the Mandala Flower or the Flower of Abundance. In this case, the scam is called the “Solidarity Economy Movement.”
The content of the message, available in the form of video and text, promises users to obtain a gross profit of 1,848 euros with the only requirement of sending 33 euros to a certain Bizum account. After a few days, the user in question recovers that investment after attracting two other users, while on the eighth day, the first receive the promised salary. Of course, we are dealing with a fairly elaborate scam that takes the scams that follow the Ponzi scheme as a reference.
THE SOCIAL SECURITY SCAM
One of the most recent scams that users have begun to report just a few months ago puts Social Security on target. Potential victims receive a call from an alleged Social Security manager to notify a payment that will be made electronically through Bizum. The supposed person in charge alerts the user to the sending of a confirmation code using SMS. The problem is that the code belongs to a request for money made through Bizum. Once the user accepts the operation, the amount notified by message will be withdrawn from his account instead of deposited.
Social Security or any other public body makes payments through Bizum. Any payment is made by traditional means, that is, by conventional transfer.
THE SCAM OF THE FAKE BUYER OF THE WALLAPOP/MILANUNCIOS/FACEBOOK MARKET
This scam borrows the operation of the previous one by making use of a money request through Bizum. In this case, the scammers are interested in an advertisement published by the user on a second-hand trading platform (Wallapop, Facebook Market…). After contacting the victim by phone, the scammers insist on paying through Bizum to exploit the user’s ignorance or confusion.
Finally, the money request is sent by SMS. From then on, the scam is similar to the one we just detailed in the previous scam.
THE FALSE OFFER OF THE MOBILE OPERATOR WITH DISCOUNTS ON THE BILL
Another scam recently reported by the National Police has to do with the false contracting of certain services related to mobile and Internet rates. The method in question is identical to the previous two since those responsible use the money request system to send a request to the user.
In this case, the premise is related to a permanent discount applied to the mobile phone rate and the Internet connection. Those responsible impersonate the user’s telephone company to confuse him and obtain personal data, after which a request for money is generated through the Bizum system that the user must accept to supposedly accept the conditions of the new rate.
HOW TO AVOID FALLING FOR BIZ SCAMS
It is a fact that Bizum has become the main target for scammers to steal money through methods based on social engineering. The first and most important thing is to discard any notification, message, or email that mentions a payment made through Bizum. Unless we have requested it, the application will not generate any notice. If the number does not belong to our contact list, the most sensible thing to do is to ignore the message.
Another recommendation we must follow is the payment of products or services through Bizum. And it is that although some businesses accept payments through Bizum, from tuexperto.com, we recommend always proceeding with caution. Unless the purchase is made in a physical store, it is best to always opt for more reliable methods, such as PayPal or the store’s payment gateway.
The last point we must consider is that Bizum does not accept refunds. Let’s send money to a contact accidentally or intentionally. The payment will be made immediately and not refundable unless we generate a return request and the user accepts it. In this case, the refund depends on the good faith of the user in question, which is why most scams have been carried out through this payment method.
If we have the telephone number of those responsible, we can resort to the security forces (National Police or Civil Guard) to file a complaint. Unfortunately, the saturation of Justice in these times will lengthen the judicial process indeterminately.
I am a writer with eight years of experience writing in business and technology. I always carry a passion for learning and discovering new knowledge.