Bizum has become the dominant payment method in Spain over the last decade. However, with great popularity also comes an increased risk from cybercriminals who target personal and banking data. The National Police is issuing an urgent warning about a new scam: the so-called Reverse Bizum Scam.
What is the Reverse Bizum Scam and How Does It Work?
The Reverse Bizum Scam is a sophisticated method in which fraudsters exploit Bizum’s functionality to trick victims into unknowingly sending them money. As explained by the National Police in a video shared on their TikTok channel, this scam begins when cybercriminals get hold of the potential victim’s phone number and ask them to “send” money.
This type of scam is particularly prevalent on online buying and selling platforms. Imagine you are selling a product online. A scammer contacts you as a supposed buyer and insists on making the payment via Bizum. Here’s the catch: instead of transferring money to you, the scammer requests money from you!
If you, as the seller, are not paying attention or don’t look closely enough in the rush to close the sale, you might mistakenly accept this request – assuming you will receive a payment. At this critical moment, the money immediately leaves your bank account.
What to Do if You Fall Victim to the Reverse Bizum Scam?
Once you have confirmed the fraudulent request, the money is irretrievably transferred to the scammers’ account. In this case, all you can do is immediately contact the selling platform and your bank to report the incident. Unfortunately, the chances of recovering the lost money are slim once the transaction has been confirmed. The most important step is to learn from this mistake and be more vigilant next time.
How to Protect Yourself from the Reverse Bizum Scam:
- Always check carefully: Before confirming a Bizum request, carefully verify whether it is a payment request or a money transfer.
- Vigilance when selling online: Be especially cautious if buyers on online sales platforms insist on unusual payment methods or terms.
- Use official channels: Conduct transactions through the official and secure channels of the selling platforms.
- Never let yourself be pressured: Do not let supposed buyers pressure you into completing a transaction quickly.
- Stay informed: Stay updated on current scam tactics by following warnings from the police and other official bodies.
By following these simple precautions, you can effectively protect yourself from the Reverse Bizum Scam and continue to safely use the convenience of Bizum.
