Alongside the various initiatives already undertaken by members of the banking sector, the Malta Bankers’ Association (MBA) is issuing an important call to action: fraud attempts are on the rise, and protecting our community requires vigilance from everyone.
While fraudsters are becoming increasingly sophisticated, the golden rule remains unchanged—your bank will never ask you to transfer money or share sensitive details over the phone. “We urge everyone to pause, verify, and stay alert. Together, as a community, we can stop these scams before they cause harm,” said MBA Chair Kenneth Farrugia.
Criminals are now deploying advanced tactics, including impersonating bank employees to pressure customers into transferring funds under false pretences. However, banks will never contact customers by phone, email, or SMS to request that they move money to another account. They will also never ask for sensitive details such as passwords, PINs, or authentication codes.
Fraudsters may seem convincing by using real names, referencing recent transactions, or even displaying legitimate bank numbers through caller ID spoofing. They may also attempt to gain trust by forming relationships with potential victims before urging them to send money for various reasons. The MBA and its members strongly advise against sending money to individuals you have never met in person, as fraudsters often build these “relationships” to later persuade victims to invest in crypto or similar schemes.
This is not just an individual issue—it is a community challenge. Each fraudulent transaction undermines trust in the financial system and places families, businesses, and the economy at risk. We encourage everyone to share this message with relatives, friends, and colleagues. Awareness remains our strongest defence.
If you receive a suspicious call, hang up immediately and contact your bank through official channels. Never act on instructions to move money, even if the caller claims it is for your protection. Report any suspicious calls or messages to your bank and to the police without delay.
The MBA strongly encourages customers to adopt a “Stop and Verify” approach: if in doubt, stop the transaction and verify directly with your bank. Protecting your finances begins with active and constant vigilance.
