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🇫🇮 Finland /Crime & Justice

Online scams cannot be fought by banks alone

From Helsingin Sanomat · () Finnish

Translated from Finnish and summarized by DistantNews. Read the original for the full story.

At a glance

Opinion Named sources Context piece
  • The writer says banks should detect unusual payment activity and intervene before criminals receive the money.
  • The opinion argues that fraudsters manipulate victims' sense of security, so responsibility cannot rest only with banks or customers.
  • It calls for cooperation among banks, authorities, telecom operators and technology companies, along with timely consumer information.

Stopping online scams requires more than banks checking suspicious payments. It demands cooperation among banks, public authorities, telecom operators and technology companies, according to an opinion published by Helsingin Sanomat.

The writer agrees that banks should identify unusual payment activity and intervene before money reaches criminals. As fraudsters develop new methods, the protections designed to stop them must also improve.

But responsibility cannot fall only on banks or customers. Criminals exploit more than financial systems. They manipulate victims step by step, using people's basic sense of security to make them trust the scam and follow instructions.

The opinion calls for coordinated action across the financial, public and technology sectors. It also says customers need up-to-date information about new scam techniques and practical ways to recognize them.

The piece was written by Tuomas Toivonen, chief executive of Holvi, and published as a reader opinion in Helsingin Sanomat.

About this summary

Originally published by Helsingin Sanomat in Finnish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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