Scammers' favorite trick: Banks and customers are now losing most money on this scam

Criminals don't need hoodies and crowbars in their pursuit of cash. A phone, a friendly voice and manipulative tactics are often enough. 

One of the methods that is particularly popular with fraudsters at the moment is to pretend to be from the bank or the police and convince a victim that their account is at risk: The money must be moved immediately to a 'secure account'. The problem is only that the account is far from secure – it belongs to the fraudster. 

This particular type of contact fraud is the kind of online banking fraud which causes banks and customers to lose the most money. 

In the second half of 2025, banks had 564 cases of this type. This is almost twice the number of the first half of the year, when the number was 299, according to figures from Finance Denmark.

In total, criminals tried to trick victims of DKK 27.2 million in the second half of the year. The actual loss stood at DKK 17.4 million. In comparison, DKK 9.7 million was lost in the first six months of 2025.

Putting customers under considerable pressure

The development indicates how criminals rapidly adjust their methods to get the most money out of their victims. These are the words of Malene Gøttge Rasmussen, Director for Digital Innovation, Critical Infrastructure and Preparedness at Finance Denmark. 

“This type of fraud puts victims under tremendous pressure, because criminals succeed in convincing their victims of the urgent need to move their money and that every minute counts. This makes people do as they are told, because they don't get a chance to think about it,” says Malene Gøttge Rasmussen.

According to Finance Denmark, having to hurry is a key part of the method. Victims are being manipulated and pressured into believing that action must be taken immediately as criminals are in the midst of emptying their account.

At the same time, the whole situation may seem credible because scammers can make the phone number appear to be that of the bank or the police – so-called spoofing. 

However, it is important to state in clear terms that neither the bank nor the police would ask customers to actively move their money because of the risk of criminal activity, Malene Gøttge Rasmussen emphasises.

“Bank systems are very secure, and customers will never be asked to transfer their money to a secure account. All accounts are safe,” she says.

Important security initiative making slow progress

One of the protective measures that make it harder for fraudsters to trick customers into transferring money to the wrong account is a so-called Verification of Payee solution,
which makes it possible to check the recipient of an account transfer and thus enables the sender to see who the money is being sent to.

But the solution is not yet ready for ordinary payments in Danish kroner. According to Malene Gøttge Rasmussen, the sector is still waiting for legislative changes.

“As regards payments in Euro, the amendment has been prepared, and the solution will be in place by July 2027. Implementation of the solution for payment in Danish kroner awaits the final adoption of an amended EU Payment Services Regulation,” she writes in an email to Finansforbundet, which continues: 

"The adoption is expected to take place during the second half of 2026. Only then will it be possible to set an implementation date for payment in Danish kroner,” she states.
However, she points out that Finance Denmark has already laid the groundwork by concluding a framework agreement with SurePay, the supplier, on a solution for the sector.