Know how to identify and avoid fraud
Cyber criminals posing as representatives of companies, including banks, continue to sophisticate their attempts at tricking customers into transferring them money or sharing sensitive data. Their communications can look surprisingly genuine and they may use multiple channels to reach their targets. This is why it is of utmost importance that you remain vigilant.
The goal of fraudsters is simple – to steal your money and/or your identity. In order to do this, they may try to get you to invest in fake financial products in order to obtain your bank account details, or to persuade you to transfer them your money. Be sceptical of claims of instant returns or high yield with no risk and keep in mind that being pressured to make a decision quickly is usually a red flag.
There are various types of financial scams. Some of the most common one include:
Fraudulent saving opportunities
Often called "savings products" or "savings accounts", these typically involve someone getting in touch by telephone and/or email to offer you an investment opportunity, using a similar but fake contact address. The conditions offered are often suspicious, and may involve the promise of "guaranteed" returns, or abnormally high interest rates.
Investment scams typically involve financial investments with the promise of very high rates of return. The investments may be in any type of financial product, including real estate, royalties, commodities or precious metals and minerals.
Impersonation and identify theft
Scams can involve someone impersonating a bank or financial services institution to offer fake products or services in an attempt to steal your money and/or your identity. In some cases, the fraudsters may even use the identities of the bank’s real employees when contacting their victims.
Fraudsters may use email, phone calls, SMS or private messages on your social media to steal your money and/or your identity. Watch out for:
The protection of your personal information is our top priority. Knowing how to identify potentially suspicious requests will help prevent fraud and ensure your data remains safe.
Swissquote will never ask you:
Swissquote will also never:
Please follow these simple steps to safeguard your personal data: