MTV: Former Bank of Finland chief Erkki Liikanen scammed out of €40,000. Photo: Heikki Saukkomaa / Lehtikuva
- Next Article Minister Kaisa Juuso hires her son as parliamentary assistant
Erkki Liikanen, the former Governor of the Bank of Finland, has been identified as the victim in a financial fraud case where approximately €40,000 was lost to a suspected scam network in April 2024.
Police are investigating the case as aggravated fraud. The Helsinki police confirmed the case remains under preliminary investigation. While they did not comment on the identity of the victim, reports by MTV and Helsingin Sanomat independently confirmed Liikanen as the person affected.
According to law enforcement, the suspected fraud follows the pattern of a so-called “safe account” scam, a growing method used by cybercriminals to deceive individuals into transferring money under false pretences of banking security.
Liikanen has not commented on the case, saying he does not wish to interfere while the investigation is still ongoing.
The crime occurred around the May Day holiday period in 2024 and involved individuals with both Finnish and foreign nationalities. Some of the stolen funds were reportedly recovered before they could be fully transferred abroad, according to Helsingin Sanomat.
In such frauds, the victim is typically contacted by someone impersonating a representative of a bank or official agency. The scam often begins with a phishing message, sometimes claiming to come from a debt collection agency, postal service, or bank, warning of suspicious activity or pending charges.
Following the initial message, the victim usually receives a phone call from a person claiming to be a bank official. Using information possibly gained through earlier phishing, the caller may recite real banking activity to gain trust. The caller then urges the victim to transfer funds to a ‘safe account’ to protect them from ongoing fraudulent activity. In reality, this account is controlled by the fraudsters.
In some cases, the fraudsters obtain the victim’s online banking credentials and conduct the transfers themselves. In others, victims are persuaded to move the funds personally. Police did not comment on the exact sequence of events in Liikanen’s case.
The investigation has revealed a broader criminal network behind the fraud. Authorities have identified multiple suspects, both Finnish and foreign nationals. Some of these individuals are also under investigation for other offences. Several victims beyond Liikanen are reportedly involved in the same case.
Police have issued repeated warnings about safe account scams in recent years. The method, originating from overseas fraud networks, has become increasingly common in Finland. Victims are often high-profile individuals or those with substantial funds.
Banks and government agencies have consistently reminded the public that they do not request online banking credentials or urge clients to transfer funds under security pretences.
Liikanen served as Governor of the Bank of Finland from 2004 to 2018 and was a member of the European Central Bank’s Governing Council during that period. Earlier, he held roles as European Commissioner for Budget and Administration from 1995 to 1999, Minister of Finance under Prime Minister Harri Holkeri, and Member of Parliament for nearly two decades.
HT
- Next Article Minister Kaisa Juuso hires her son as parliamentary assistant
Source: www.helsinkitimes.fi
