March 12, 2026, 12:17 pm | Read time: 2 minutes
Paper transfers date back to the time before online banking. Today, hardly anyone uses them. However, criminals are an exception. They use paper transfers to empty other people’s accounts.
For the fraud, perpetrators only need the IBAN and the account holder’s name. With the IBAN, they can identify the bank. Then, the criminals send paper transfers by mail to the financial institution. They enter moderate amounts to be transferred from the victim’s account abroad.
Why Small Amounts Are Particularly Risky
At banks, paper transfers are, if at all, only checked by an employee starting from a certain amount. Amounts under 1,000 euros are usually processed by a machine. This machine does not check the signature. Theoretically, it could even say “Mickey Mouse.”
The perpetrators do not send just one transfer. They send many at once. This quickly adds up to large sums. In this way, even 20,000 euros can disappear abroad. There, the money is withdrawn, and the perpetrators immediately close the recipient account. This account was opened from the start with a fake identity. For the victims, the money is gone. They have to deal with the bank and hope to get it back.
Also of interest: ING is changing online banking! Without a new login, account suspension threatens
How to Activate the BZV Block
Many people no longer use paper transfers today. If this applies to you, you can use a simple protective measure: Activate the BZV block. The abbreviation stands for “beleghafte Zahlungsverkehrs-Sperre” (documented payment transaction block).
At many banks, this option can be found in the online banking settings. Alternatively, a call to the customer advisor or a visit to the counter is enough to set up the block. Once the BZV block is active, no paper transfers will be processed for your account. This also applies to fake transfers by criminals. Transfers via online banking will continue to function as usual.