How to Spot a Bank Account Fraud Before it’s Too Late

Fraud can affect people of all backgrounds, ages and incomes.We are continuously getting bombarded with tactics from scammers and at some point, we may be vulnerable to a scam.

One way to protect ourselves is being able to recognise the warning  signs of a potential fraud.

How to Spot a Bank Phone Scam

Transferring money out of your bank account is possibly the most common scam. Usually, it comes in the the form of a phone call, claiming to be from your bank alerting you to a problem with your account. Often this is security related, such as telling you someone is accessing your account illegally, or has stolen your identity. What they ask is to transfer your money into a ‘safe account’ until the problem is resolved.

Now, here is the thing. Nobody is trying to access your account and you’re transferring money directly to the scammers. The money is then transferred very quickly to other accounts around the world.

How to Prevent a Bank Scam

The most important thing you should know to prevent such scams is that banks will never ask you to transfer any money into a ‘safe account’. Also, banks will never ask you to reveal personal information including your PIN, or passwords for online accounts.

If you receive a call asking you about the above information hang up immediately and contact your bank. If there is problem, they will be able to tell you.

Always be vigilant! Question who is the person contacting you. Is the request unsolicited? Consider searching the current scams in your country, a lot of the times people will report suspicious phone numbers or activity.

If you use Jeton we’ll never:

  • Call you without  arranging it through in-app chat first
  • Ask you to share any  sensible information about yourself or your account, like your PIN
  • Ask you to move your money out of Jeton  and into a different account
  • Explicitly tell you to take a loan