InstaPay support impersonation induces verification transfers

Reported incident or attempt

How the approach works

Callers told users that account information needed urgent updating and guided them through transfers presented as verification. One interviewee also recalled a false incoming-payment alert and a supposed bank verification code.

What they wanted

Obtain transfers of money

Reported outcome

Two interviewees reported EGP 80,000 losses each; a third reported EGP 50,000.