A company that manufactures robotic falcons suffered a significant financial loss of £100,000 due to cyber criminals.The tech-savvy grandfather recounted how fraudsters targeted his family business, which was struggling with a significant decline in turnover amounting to 95%.
Despite his initial suspicion, the 72-year-old eventually succumbed to their demands and transferred nearly £100,000 to a fake bank account. The ordeal took a toll on him, as he described it as an extremely stressful experience that he wouldn’t wish upon anyone.
According to recent figures released by Police Scotland, fraud cases have seen a 68% increase since 2018, with the majority occurring online. Mr. Donald’s company, Robop, which specializes in manufacturing robot peregrine falcons for bird pest control, faced significant challenges due to the impact of Covid-19. The incident occurred one Friday afternoon in December 2020 when Mr. Donald received a call that would set off a chain of events leading to one of the worst experiences of his life.
The caller, speaking in an Edinburgh accent, claimed to be from a joint banking task force and informed him of fraudulent activity in his account. Though his instincts told him something was amiss, the caller possessed a remarkable amount of knowledge about him and his business, making their answers seem plausible. Unable to reach his bank due to difficulties with the line, Mr. Donald found himself succumbing to the pressure exerted by the caller, leading to the hour-long transfer of funds.
In the aftermath of the incident, Mr. Donald sought help from the Cyber and Fraud Centre Scotland, and six weeks later, his bank refunded the missing money. Unfortunately, not everyone has been as fortunate. The chief executive of the center, Jude McCorry, highlighted a case involving a £700,000 transfer on a property deal to the wrong account, emphasizing the need for prevention rather than just reactive measures.
Police Scotland has expressed concerns about the underreporting of cyber crime, and they believe the figures provided are only the tip of the iceberg. Senior officers at the police force have noted the increasing involvement of Scottish crime groups in cyber crime, urging the public to be cautious and vigilant. In response, Police Scotland is investing an additional £4.3 million in its cyber crime strategy, focusing on acquiring new equipment, providing training for operational officers, and establishing an ethical protocol for the use of new technology.
Reflecting on his experience, Mr. Donald emphasized the importance of understanding the sophistication of cyber scams. He advised the public to have their bank’s fraud line readily available on their mobile phones and urged banks to promptly answer calls made to these numbers.
SOURCE: Ref Image from bbc.
Whether writing about complex technical topics or breaking news stories, my writing is always clear, concise, and engaging. My dedication to my craft and passion for storytelling have earned me a reputation as a highly respected article writer.