Fraudsters Impersonate Central Bank Officials: Regulator Warns Residents of Armenia

The Central Bank of Armenia (CBA) has reported an increase in fraud cases where scammers pose as officials of the regulator to convince citizens to transfer money to third-party accounts.

According to the CBA, scammers are sending fake emails and making phone calls, presenting themselves as representatives of the financial regulator. During these conversations, they may report "suspicious transactions," the "urgent need to protect funds," or a "bank account audit," subsequently suggesting a transfer of money to a so-called "secure account."

The Central Bank emphasizes: The regulator never requests money transfers or asks citizens for bank card details or online banking credentials.

Citizens are advised to:

1. Never share bank card details, PIN codes, or one-time SMS codes (OTPs) with third parties;
2. Refrain from transferring money at the direction of unknown individuals;
3. Immediately terminate the conversation and contact their bank if they receive suspicious calls or emails.

In the event of a fraud attempt, the regulator advises notifying both your bank and law enforcement agencies.

Read more about common fraud schemes and how to protect yourself in the AFM article: “How Not to Fall Victim to Fraud in Armenia: Real Stories and New Tricks”․