Spanish regulator warns of scam firms stashing cash abroad
24 Sep 15
Spain’s financial regulator has issued a warning about unauthorised firms scamming clients out of their money by transferring funds to accounts based abroad.
Cold calling is one of the chiringuitos’ favourite contact methods. It allows them to directly exercise psychological pressure techniques. It is normal practice for authorised entities to call existing customers, so people know their data has been obtained legitimately. Legitimate firms politely accept a “no”, and by contrast, the scammers do not usually take no for an answer.
The conversation, either by phone or by any other means, usually begins in a cordial fashion, but if the targeted victim shows some potential resistance the scammer can become more aggressive.
This constitutes a fundamental difference between the scammers and the authorised entities, which always respect a potential client’s right to not be interested.
