New wave of fraud in Israel: how to protect your money
Israel has seen a rise in financial fraud cases, especially among elderly citizens. Criminals use fake SMS, calls impersonating banks and police, and AI technology to clone voices. Their main tool is creating panic and demanding immediate action. Victims are advised to contact their bank and police immediately.
Israel has recorded a sharp increase in financial fraud cases. According to the Ministry of Welfare, reported cases against elderly citizens rose by 61% over the year, while cases of financial exploitation by close associates increased by 26.5%. Fraudsters use increasingly sophisticated methods: fake SMS from banks, messages disguised as National Insurance Institute notifications, and calls impersonating police officers. Russian-speaking residents face particular risk, receiving calls in Russian from people claiming to represent well-known organizations. The scammers' main tool is creating artificial panic and urgency, demanding immediate compliance and forbidding victims from discussing the situation. AI technology poses an additional threat: with just a few seconds of audio recording, fraudsters can clone a loved one's voice and request an urgent money transfer. Victims are advised to immediately contact their bank to block cards, file a police report, and call the Ministry of Welfare hotline at 118. For citizens over 65, the Ministry of Justice provides free legal representation in court.