Digital fraud is no longer a distant threat; it is part of everyday life. Technology has made our lives easier, but it has also given rise to ever more sophisticated scams. So the question is no longer whether cyber threats exist, but whether we are prepared to spot them in time.
We are all exposed, without exception. That is why prevention and the adoption of responsible digital habits have become the first line of defence. Alejandro Romero, Director of Security in Projects at Banco Sabadell, and David Armengol, Director of Transaction Fraud at Banco Sabadell, discuss in a new Sabadell Hub Empresa session how today’s fraudulent networks operate and which signs allow us to detect them in time.
From simple scams to increasingly sophisticated attacks
One of the main changes in recent years is the evolution of fraud. Where scams used to be easier to identify, they now rely on technologies such as Artificial Intelligence (AI) to appear much more credible and personalised.
This increases their effectiveness and makes them harder to detect. In the face of this scenario, the best defence remains training and the ability to recognise suspicious patterns.
Ciberfraude: qué es y cómo protegernos ante las nuevas amenazas
The most common financial frauds today
Although the techniques evolve, many of the most frequent scams share the same goal: to manipulate the user into sharing information or carrying out an action.
Do you know the most common scams? Here is a rundown so nothing slips past you:
- Phishing, smishing and vishing: these are social engineering techniques designed to trick the victim into sharing sensitive information such as passwords or bank details. Phishing is carried out by email, smishing by SMS and vishing by telephone calls. Attackers often pose as legitimate organisations to build trust and create urgency.
- CEO or supplier fraud: it involves sending fake communications impersonating executives or suppliers in order to request transfers or changes to payment details. The fraudster researches the organisation in advance to make the messages credible and convincing. It is usually aimed at employees who can make payments or manage invoices.
- Identity theft: this means impersonating another person or entity using stolen or falsified data. Criminals may open accounts, contract services or commit offences in the victim’s name. This fraud can cause significant financial, legal and reputational damage.
- E-commerce fraud: it occurs when users are deceived in online transactions, either by selling non-existent products or by manipulating payments. It may include fake shops, counterfeit products or the theft of card data. It is common on marketplace platforms and unverified websites.
- Investment and cryptocurrency scams: these offer investment opportunities with promises of high returns and low risk, which are in fact fraudulent. They often use social media, fake websites or apparent expert recommendations to lure victims. In the crypto space, it is common for funds to disappear without any chance of recovery.
A risk that affects us all: businesses and citizens
One of the most common mistakes is to think that these cyber threats only affect people with limited digital knowledge. In reality, any user can become a target, regardless of experience.
Businesses are also exposed, as they handle large volumes of data, operate interconnected systems and depend on third parties, which expands their attack surface and makes them especially attractive targets for cybercriminals.
That is why the human factor remains decisive. Keeping a critical mindset, checking information and staying alert to unusual behaviour makes the difference between falling for the scam and avoiding it.
“In an environment where technology advances at the same pace as the threats, staying ahead, training people and strengthening security is no longer an option, but a strategic necessity for any business.” — David Armengol, Fraud Management at Banco Sabadell.
David Armengol, Fraud Management at Banco Sabadell.
