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Armenia (AM)

Affordable Caucasus base with a fast-growing tech scene, rich culture, straightforward residency options, low flat income tax, strong diaspora links and increasingly international Yerevan.

Capital: Yerevan
Region: Europe
Language: Armenian
Currency: AMD (֏)
Cost of living: Very affordable (index 30)
Emergency: 911
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Scam Warnings

Common scams targeting expats in Armenia.

Armenia is generally safe for expats, but fraud is rising sharply: the Central Bank of Armenia flagged a surge in telephone and phishing fraud in 2025–2026. The three golden rules: never share banking credentials by phone or SMS, use licensed lawyers for any property or immigration matter, and verify investment platforms before transferring any money.

Telephone and bank-impersonation fraud

critical

Callers impersonate Armenian bank staff (IDBank, Inecobank, Ardshinbank, Ameriabank) or police officers, claiming your account has been compromised or that you owe fines. They ask you to confirm account details, one-time codes, or transfer money to a "safe" account. In 2025–2026 the Central Bank of Armenia issued multiple public warnings about this wave, which includes calls from international numbers (+63, +212) spoofed to display as your bank.

How to spot it
  • - Unexpected call from "your bank" or "police" asking you to act immediately
  • - Caller knows your name and partial account details but asks for more
  • - Call comes from an unfamiliar or international prefix (+63, +212) even though the screen may show your bank's name
  • - Pressure to transfer funds to a new "secure" account right now
  • - Request for one-time SMS codes or card CVV numbers
What to do: Hang up immediately. Call your bank directly using the number on the back of your card or from the bank's official website. Never give OTPs, CVV codes, or PIN numbers to anyone by phone. Report to the Police of Armenia (102) and notify the Central Bank of Armenia at cba.am.

Fake investment platforms and crypto fraud

critical

Fraudulent platforms promise high guaranteed returns on cryptocurrency, forex, or Armenian "tech startups." In 2025 the Armenian Cyber Police warned of Ponzi-style schemes (including a drone-industry scheme mimicking the collapsed CityBike project) and AI-generated deepfake videos showing Prime Minister Pashinyan endorsing fake investment opportunities. Armenia's growing IT sector gives these schemes false legitimacy.

How to spot it
  • - Guaranteed monthly returns of 10 % or more — no legitimate investment can promise this
  • - Celebrity or politician endorsements, especially in online video ads (check whether the video is authentic)
  • - Platform not registered with the Central Bank of Armenia (cba.am)
  • - Pressure to recruit friends in exchange for a "referral bonus"
  • - Funds difficult or impossible to withdraw once deposited
What to do: Check any investment firm against the Central Bank of Armenia registry at cba.am before depositing money. Report suspected fraud to the Police Cybercrime Division (011 52 52 52) and to the Central Bank.

Phishing SMS and email (banks and government)

critical

Fake SMS and emails impersonate Armenian banks or the State Revenue Committee (SRC/Tax Authority), claiming you have a refund waiting or your account will be suspended. They link to convincing fake login pages that harvest your credentials. In 2025 fake Telegram bots appeared posing as official bank services, requesting card details, CVV codes, and passport data.

How to spot it
  • - Unexpected message about a tax refund, account block, or uncollected parcel
  • - Link in the message does not exactly match the official bank or government domain
  • - Request to enter card number, PIN, or CVV to receive a payment or refund
  • - Telegram bot claiming to be a bank service asking for document scans
  • - Urgency: "verify within 24 hours or your account will be closed"
What to do: Never click links in SMS or email about banking or government matters. Type the URL directly into your browser. Forward suspicious messages to the police cybercrime hotline at 011 52 52 52. Contact your bank immediately if you have entered credentials.

Apartment deposit before viewing

critical

A fake landlord posts an attractively priced Yerevan flat on classifieds (List.am, Facebook groups) and asks for a deposit via bank transfer or crypto before any viewing. The landlord is typically "abroad" and the property either does not exist or belongs to someone else.

How to spot it
  • - Rent significantly below market for the area and quality
  • - Landlord claims to be abroad and cannot arrange a live viewing
  • - Requests deposit before signing any lease or visiting the property
  • - Refuses video walkthrough or will not provide the exact property address
  • - Only communicates by WhatsApp or Telegram
What to do: Never pay any money before a verified in-person viewing. Confirm the landlord's identity and ask to see ownership documents. Use written lease agreements and make payments by traceable bank transfer only after signing.

Unofficial visa and residence-permit fixers

critical

Individuals advertise on social media and expat forums, claiming they can guarantee Armenian residence permits, work authorisations, or even citizenship for cash fees. Armenia's migration regulations are publicly available and most procedures can be done directly through the Migration and Citizenship Service.

How to spot it
  • - Promises of "guaranteed" residence or citizenship approval
  • - Requests for upfront cash payment before any service is delivered
  • - Not a licensed attorney; refuses to show bar association credentials
  • - Asks to hold your passport without giving a formal receipt
  • - Vague explanations of the process with no reference to official portals
What to do: Use only licensed Armenian attorneys or go directly to the Migration and Citizenship Service. Check lawyer credentials through the Armenian Bar Association. Never hand over your passport without a written receipt.

Currency exchange tricks

warning

Street money changers or informal exchange offices offer a better rate than banks, then use sleight of hand (wrong notes, bad counting, counterfeit AMD) to shortchange you. This is most common near tourist sites in central Yerevan and at land border crossings.

How to spot it
  • - Exchange point is a person on the street or an unmarked kiosk
  • - Rate offered is noticeably better than nearby licensed offices
  • - Exchanger counts notes very quickly or distracts you while counting
  • - No receipt or official rate board visible
What to do: Use only licensed exchange offices or bank branches. Count all notes yourself before leaving the counter. If you receive suspect banknotes, take them to your bank immediately.

Marketplace overpayment and fake payment links

warning

On Armenian classifieds (List.am, Facebook Marketplace), a buyer sends more money than the agreed price and asks you to refund the difference — the original payment was made with stolen credentials and is reversed, leaving you out of pocket. Sellers are also targeted with fake payment or courier links that request card details to "receive" payment.

How to spot it
  • - Buyer sends more than the agreed amount and asks for a refund of the difference
  • - Link asks you to enter your card number and CVV to receive a payment
  • - Courier page looks unofficial or asks for banking credentials
  • - Buyer refuses to meet in person or pay cash/bank transfer face to face
What to do: Only accept the exact agreed amount. Never enter card credentials to receive a payment. Wait two to three business days for any bank transfer to fully clear before releasing goods. Meet buyers in safe, public places where possible.

Romance scams and deepfake fraud

warning

Criminals build online relationships over weeks via dating apps or social media, then request money for a medical emergency, travel, or an investment opportunity. In 2025 Armenian authorities specifically warned about deepfake voice and video calls used to impersonate trusted contacts or celebrities to request urgent money transfers.

How to spot it
  • - Online relationship that never progresses to an in-person or verified video meeting
  • - Person claims to be working abroad (military, oil rig, UN mission) and cannot meet
  • - Urgent request for money — medical emergency, stuck at airport, investment opportunity
  • - Video call looks slightly unnatural: face movements lag, lighting is inconsistent
  • - Profile photos appear elsewhere online under a different name (reverse image search)
What to do: Never send money to someone you have not met in person and verified. If a video call seems unnatural, ask the person to perform an unexpected action (touch their nose, turn sideways). Report to the Police Cybercrime Division at 011 52 52 52.

Reporting

Where to report: Police of the Republic of Armenia — Cybercrime Division: 011 52 52 52 | police.am | General police emergency: 102. Central Bank of Armenia (financial and banking fraud): cba.am. Financial System Mediator (disputes with licensed financial organisations): fsm.am.

Consumer helpline: Financial System Mediator: 060 70 11 11 (Mon–Fri 09:00–18:00) — free service, no lawyer needed. Website: fsm.am.