Finnish earnings-related pension company Varma has warned that scam text messages are circulating using its name.

It said the scam messages aim to obtain the recipient’s bank details but the content of the messages varies.

The messages direct the recipient to click on a link that leads to a phishing site, which is not Varma’s website. However, the links are similar to Varma’s website address.

It follows a statement from Insurance Sweden last month, which reported that fraudsters are sending out emails pretending to be from the organisation. It said the fraudsters were sending emails in an attempt to collect data, which it believes it would then try to use to commit fraud.

“Insurance Sweden is a trade organisation for Swedish insurance companies and we do not offer insurance. Insurance Sweden never sends out emails requesting confirmation of insurance information,” it stated.

Fraud and cyber risks are rising up the risk agenda in the pension and insurance sector, with attempts to steal data becoming more prominent.

In addition, cyber risks are taking greater prominence amongst IORPs with the European Insurance and Occupational Pensions Authority’s (EIOPA) recent IORP Risk Dashboard finding an increasing risk outlook for digitalisation and cyber risks over the next 12 months.

In August, Swedish occupational pension provider SH Pension confirmed that customer data was stolen after it was hit by a cyber-attack.

The pension provider said that as soon as the breach was detected, it isolated and immediately addressed the vulnerability.

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