A number of Icelandic athletics associations have fallen prey to email scams and have lost a considerable amount of money as a result, RÚV reports. Police warn these associations to be on their guard; cybercriminals waged a similar campaign against athletics associations a few years ago and are reusing the same techniques now.
The most common type of scam is that the managing director, an employee, or a volunteer of an athletics association will receive an email that appears to come from their organization’s bookkeeper or director. The email will ask them to make a bank transfer to a foreign bank account and say that this needs to be done within a very short window of time.
The scammers seem to have done considerable homework on their marks. According to Auður Inga Þórsteinsdóttir, director of the National Association of Youth Organizations (UMFÍ), athletics associations with higher revenue are asked to transfer more money than less monied organizations—anywhere from ISK 400,000 [$2,901; € 2,452] to ISK 1 million [$7,253; €6,130]. UMFÍ urges any organizations that are targeted by such scams to report them to the police.
Internet fraud and email scams have cost Icelanders a total of ISK 1.5 billion [$10.88 million; €9.19 million] over the last three years.