Modern online scams have become so elaborate that even digital natives must sometimes double-check whether the source material is legitimate or not.

And as scammers and fraudsters constantly evolve their tactics, Bank of Valletta and the Malta Police Force have signed an agreement to improve public resilience against this type of crime.

WhosWho.mt spoke to Bank of Valletta about the latest scam that did the rounds - a fake Times of Malta interview with Joseph Calleja.

Although it is written in the Times’ font and includes an image from a real Times interview with Calleja as well as comments from Maltese-sounding names, the famous tenor quickly starts talking about a get-rich-quick scheme called 'CoinovX’.

BOV told us that there are several signs that one should be aware of when coming across such a sophisticated scam article.

1. While the article initially appears to be published by a legitimate source (Times of Malta), the URL shows a completely different address (uplernia.com). This should immediately alert people that the originator of the content is not who it purports to be.

2. It is not common practice for a high-profile individual, in this case Joseph Calleja, to advocate for an investment scheme. While Mr Calleja is a public figure, he is not renowned to be in the financial industry.

3. Before trusting your money to an alleged investment vehicle, in this case CoinovX, one must check whether it is actually licensed or not. Such information is open and publicly available.

4. Potential investors should seek professional advice before taking the plunge, ideally independently from whoever is promoting the scheme. One should always meet your financial advisors face-to-face.

BOV said they have been working on several awareness-raising initiatives way before the recent signing of a MOU with the police.

For example, they created a series of podcasts with The Malta Chamber on scams and fraud, created interactive content on their socials, and organised events with several professionals such as nurses, legal professionals, key businesses and corporates.

The Police also took numerous initiatives and did their own awareness campaigns and community outreach on the same topic.

“By joining forces, we are now in a position to have one unified approach, share expertise, intelligence, and reach a wider cohort of society,” the bank said.

“Initiatives falling under the MOU are still being drafted and will be communicated in due course. We will be working together on education, training and community outreach.”