Public Awareness on Emerging Online Financial Scams Using the Names of Reputable Institutions

Despite continuous Public Awareness efforts by the Sri Lanka Police regarding fraudulent activities and financial crimes carried out through the internet and modern technology, the number of complaints reported in relation to such scams is steadily increasing.

Investigations have revealed that fraudsters are exploiting the names of well-known and trusted institutions within the country. The Sri Lanka Police has identified several deceptive methods currently being used by these individuals.

In many instances, fraudsters impersonate representatives of reputable institutions and persuade individuals to install specific Mobile Applications to access services purportedly offered by those institutions. During this process, victims are instructed to share their mobile phone screens under the pretext of receiving assistance with the installation.

Through this method, fraudsters gain remote access to the victim’s mobile device, enabling them to carry out unauthorized financial transactions via online Banking Applications and transfer funds to other accounts.

It has been observed that a lack of technical awareness among the public is a primary factor contributing to these incidents. Therefore, the Sri Lanka Police strongly advises the public to remain vigilant and adhere to the following 

precautions:

Exercise extreme caution regarding social media advertisements promoting “various income opportunities” or “high-return investment schemes,” as these are often designed to deceive individuals by initially offering small profits to gain trust before defrauding larger sums of money.

Do not disclose bank account details, passwords, or One-Time Passwords (OTPs) received via mobile devices to any third party under any circumstances. Reputable banks or financial institutions will never request such confidential information over the phone or through unofficial channels.

Avoid clicking on suspicious links or installing applications provided by unknown individuals. Always verify the authenticity of such requests and be cautious when granting application permissions.

Refrain from sharing your mobile phone screen with unfamiliar persons, especially upon their request.

If you suspect that you have been a victim of financial fraud, immediately notify your bank or relevant financial institution and take necessary steps to secure your accounts.

The Sri Lanka Police kindly requests the public to remain informed and take proactive measures to safeguard themselves against such fraudulent activities.