Once upon a time there was a beautiful prince... who happened to run out of money
8 min Reading time
New fairytale campaign by Febelfin in collaboration with Nora Gharib and Maaike Cafmeyer warns for online fraud
Hansel and Gretel meet a witch who promises them a great investment in exchange for their last breadcrumbs. A prince in love helps Cinderella out with money to repair her carriage. Far-fetched? Also in real life, people get lured into the trap and seemingly wonderful stories can take an unexpected turn.
And that is what Febelfin's new social media campaign is all about: people still too often allow themselves to get caught by (online) fraudsters. Using classic fairy tales - always with a modern twist - Febelfin wants to make people aware of the dangers of online fraud.
Online fraud, it won't happen to me!
‘Online fraud, it won't happen to me’. Unfortunately, the figures show otherwise: today's cybercriminal does not look at age, education level or language. Anyone is targeted and anyone can fall into the trap. Even young people turn out to be more prone to overly nice promises than thought. Continuous vigilance and awareness are therefore not a luxury.
Cyber criminals are very inventive and a wide range of fraud forms are used to trap people. Phishing alone accounted for 40 million euros captured in 2023. But other online forms of fraud in which customers are manipulated into making a fraudulent payment themselves also continue to rise sharply.
However, these forms of fraud, such as friendship- and investment fraud, are still relatively unknown by the Belgian population. A survey of IndiVille commissioned by Febelfin shows that only a bit less than 1 in 5 respondents know exactly what these forms of fraud entail. About 33% have heard about them, but almost half the population is completely in the dark. For example, 40% of those surveyed have never heard of investment fraud. Clearly, there is still work to be done, and continuous awareness-raising therefore remains essential.
IndiVille survey, 1-18 March 2024, on a representative sample of the Belgian population n: 2109 NL/FR surveys, age 16-79. Maximum margin of error: 2.1%
More figures about phishing and other forms of online fraud can be found in our storytelling.
The FSMA regularly publishes an update of the figures concerning investment fraud in her half-yearly dashboard.
How to protect yourself against online fraud?
You can encounter people with bad intentions both in the online and offline world. Below you can find some tips to arm yourself against 3 common types of fraud: bank card phishing at home, investment fraud and friendship fraud.
Don't let the wolf in sheep's clothing enter!
- Don't blindly believe all emails or messages you receive
- Your bank will never ask you for your personal bank codes over the phone, or through a link in an email, text message or on social media. Your banker will also never come to your home to collect your bank card or confidential bank codes or to solve payment problems. So never share bank codes.
In this file you can find more tips.
Know what you invest in!
- A so-called investor promising you sky-high returns on social media? Think twice before believing him/her, because if a return is too good to be true, it usually is!
- Never invest in a product if you do not perfectly understand exactly what it entails and always check the information you receive, including the identity of the provider.
In this file you can find more tips.
Not every online love story has an happy end
- Be wary for stories that elicit pity and are often used to gain your confidence.
- Don't just accept friend requests from strangers and always check the authenticity of an online profile.
In this file you can find more tips.
Still fell into the trap?
And they lived happily ever after
Fairy tales once aimed to teach people important lessons. Sometimes they warned to be wary, sometimes they helped the vulnerable in society, and sometimes they emphasised that real beauty is not what's on the outside but what's on the inside.
This technique is also used in our new, modern fairytale videos. We combine relatability with humour while raising awareness about current forms of fraud.
At the end of the videos, viewers get the clear message that fairy tales are often too good to be true. With online fraud, the same is true. So we urge people to stay alert and vigilant. Because young or old, online fraud affects us all.
Febelfin, in cooperation with the creative agency ‘Hurae’, approached several popular Flemish influencers and TV personalities to cooperate in this colourful campaign. Thus, Maaike Cafmeyer, Nora Gharib, Stijn Steyaert and Joffrey Anane will feature in Febelfin's fairytale campaign. On the French-speaking side, we worked with Shauna Dewit, Jonathan Krego, Nikoz and Clara Laureys.
The videos will be shared on popular platforms such as TikTok, Snapchat and Meta.
Febelfin calls on new local authorities and governments to take more joint action
The industry is fully aware that we can only succeed in the fight against phishing and online fraud by working together. Continuous cooperation with the various stakeholders, the government and field organisations is and remains necessary in this context. Since the techniques of online fraudsters, through technological developments such as AI and deep fakes, are constantly evolving, we will face many new challenges. Continuous joint monitoring of these developments and the necessary adaptability are crucial. Only by developing a shared vision and strategy between all parties involved on how to further combat cybercrime and keep the economy running safely, can we together ensure that everyone feels safe in the digital world of today and tomorrow. Febelfin therefore calls on the new local administrations and governments to give this sufficient priority.
