How to protect yourself from email fraud (Phishing) and SMS (Smishing) fraud

At Viva Wallet, your safety is always our top priority and therefore, we feel obliged to instruct you on the new types of online fraud currently used by scammers. We would like you to carefully go through the instructions below, in order to protect yourself from cybercriminals, who may try to get access to your bank account.

Phishing

One of the most prevalent types of online fraud is Phishing, which involves malicious actors sending fraudulent emails, with the aim of tricking the receivers into sharing their personal, financial or security information.

In those e-mails, the cybercriminals pose as representatives from the receiver’s bank. Usually, they will replicate the logos, layout and tone of real emails, hoping to deceive unassuming customers. By using language that transmits a sense of urgency (e.g., ‘’your account is locked’’, ‘’your code is expiring’’, ‘’you made a transaction worth XXX€, click here to cancel’’), fraudsters ask you to download an attached document or click on a link.

In essence, cybercriminals send emails that may look identical to the types of correspondence that actual banks send, relying on the fact that people are busy and may perceive those spoof emails as legitimate.

Nevertheless, if you are cautious and meticulously follow the instructions below, you can protect yourself from such scams. First of all, it’s best you keep your software updated, including your browser, antivirus and operating system.

You should be especially vigilant if a ‘bank’ email requests sensitive information from you (e.g., your online banking account password). To confirm the legitimacy of the email, you can compare its content (writing style, logos, subject) with previous, legitimate emails from your bank.

If you think an email is suspicious, don’t reply, instead forward it to your bank by typing in the address yourself. Don’t click on the link or download the attachment. First, make sure that the links lead to the real Viva website and not some suspicious web address before clicking on them.

Finally, watch out when using a mobile device. It might be harder to spot a phishing attempt from your phone or tablet. And when in doubt, double check on your bank’s website or give the bank a call.

Smishing

Another widespread type of online fraud is Smishing. The term is a combination of the words SMS and Phishing and it refers to the attempt by fraudsters to acquire personal, financial or security information by text message.

The text message may use language that transmits a sense of urgency and will typically ask you to click on a link or call a phone number in order to ‘verify’, ‘update’ or ‘reactivate’ your account. But…the link leads to a bogus website and the phone number leads to a fraudster pretending to be the legitimate company.

As with fraudulent emails, you shouldn’t be rushed when dealing with a suspicious text message. Take your time and make the appropriate checks before responding.

For starters, don’t ever click on links, attachments or images that you receive in unsolicited text messages without first verifying the sender. And in no case should you ever respond to a text message that requests your PIN or your online banking password or any other security credentials.

Always keep in mind that your bank will never ask you for sensitive information such as your online account credentials over the phone or email. For your safety, check your bank account regularly and report any suspicious activity to your bank and be very careful about how much personal information you share on social networking sites.

At last, if you think you might have responded to a smishing text and provided your bank details or fallen victim to Phishing, contact your bank immediately.