Secure against card fraud with the app

Overview:

• Common phishing methods
• How does Swiss Bankers prevent online card fraud?
• Measures to prevent card fraud: What you can do?
• Card fraud information resources
• Working against fraud with the Swiss Bankers app

Card fraud can be committed in a number of ways. 

Here are some common methods:

1.    Phishing: Scammers send fake emails or text messages that appear to be from a bank or card company, prompting recipients to reveal personal information and card details.

2.    Skimming: Fraudsters use special devices attached to ATMs or point-of-sale terminals to steal card information from the card's magnetic stripe as it is swiped through the device.

3.    Online data leaks: Hackers can penetrate the systems of online merchants or service providers and steal customer data, including card information.

4.    Stolen or lost cards: Fraudsters use stolen or lost cards to make purchases or withdraw money before the cardholder or bank notices the loss and blocks the card.

5.    Card making: Fraudsters create fake cards with stolen card information and use them for fraudulent transactions.

6.    Identity theft: Criminals can steal personal information and use it to apply for cards on the victim's behalf and conduct fraudulent transactions.

To protect yourself from card fraud, you should be careful with your personal card information, regularly check your bank statements, and immediately report any suspicious activity to your bank or card company.

How does Swiss Bankers prevent online card fraud?

Swiss Bankers follows various strategies and security measures to prevent card fraud. Swiss Bankers customers only need one thing for this: the Swiss Bankers app. We therefore recommend that all card customers download the Swiss Bankers app. It informs you immediately via push message about all money movements. If the app is not used and we have a cell phone number, we will inform you via SMS.

1.    The new Swiss Bankers fraud prevention system is as simple as it is effective: If it detects a suspicious transaction, the card is automatically blocked. The customer will immediately receive a notification asking them to review the transaction and let us know if it is legitimate or not.

2.    Speed: In addition to the automatic detection of potentially fraudulent activities, one factor in particular plays a central role in comprehensive protection: The speed at which the fraud victim is informed. 

3.    Security technologies: Swiss Bankers uses EMV technology, which contains an integrated microchip in the card. This chip makes it more difficult to copy or counterfeit card information.

4.    Transaction monitoring: Swiss Bankers monitors transactions and activity on its customers' card accounts to identify unusual or suspicious patterns and take action if necessary.

5.    Customer notifications: If suspicious transactions are detected, Swiss Bankers will notify the customer and ask for confirmation as to whether the transaction is legitimate or not.

6.    3D Secure: Swiss Bankers uses 3D Secure technology, which provides an additional layer of authentication for online transactions. Customers must enter a personal security code to verify their identity before completing a transaction.

7.    Security policies and practices: Swiss Bankers implements strict security policies and practices to ensure their systems and data are protected.

8.    Customer awareness: Swiss Bankers can inform customers about the risks of card fraud and give them tips on how to protect their cards and personal information.

9.    Geoblocking: The Swiss Bankers app uses geoblocking features, which allow customers to block certain countries from using their card to prevent fraud.

10.    Use of artificial intelligence: Swiss Bankers uses artificial intelligence and machine learning to better identify fraud patterns and respond to them faster.

It is important to note that no security measure can offer 100% protection against card fraud. Customers should therefore always remain vigilant and monitor their accounts to ensure their information and finances are protected.

Measures to prevent card fraud: What you can do:

1.    Store the card safely: Keep your credit card in a safe place and don't give it away. Do not share your card number, expiry date or security code with strangers.

2.    Strong passwords and PINs: Use a personal identification number (PIN) for your card and strong passwords for your online accounts. Change them regularly and do not share them with anyone.

3.    Monitor card statements: Check your card statements regularly and look out for suspicious or unknown transactions. Report any suspicious activity to your card company immediately.

4.    Safety when shopping online: Only buy from reputable retailers and make sure that the website uses SSL encryption (indicated by the lock symbol in the address bar). Only enter your card details on secure websites.

5.    Use of security features: Use additional security functions such as 3D Secure or one-time passwords for online purchases if these are offered by your card company.

6.    Be careful with public WiFi networks: Avoid entering card information when using public WiFi networks. These are often unsafe and could be monitored by scammers.

7.    Pay attention with e-mails and calls: Be wary of emails or phone calls asking for your card information. Never share this information over the phone or via email. Reputable companies will never ask you for your card details in this way.

8.    Update your personal information: Keep your contact information, such as phone number and email address, up to date with Swiss Bankers. In this way, you can be contacted quickly in the event of suspected fraud.

9.    Report loss or theft immediately: If you lose your prepaid credit card or it is stolen, report this immediately to Swiss Bankers to have the card blocked and prevent fraud.

Card fraud information resources:

In Switzerland there are various information resources and organizations dealing with card fraud and its prevention. Here are some of the key resources:

1.    Swiss Bankers provides important information on security-related topics at the following URL: https://www.swissbankers.ch/en/credit-card-security/

2.    Police: If you are a victim of card fraud or notice fraudulent attempts, you can report it to your local police station.

3.    Melani: the "Reporting and Analysis Centre for Information Assurance" (Melani) is a department of the Federal Office of Communications that deals with the security of information and communication technologies in Switzerland. They offer information and advice on topics such as card fraud, phishing and online fraud. Website: https://www.melani.admin.ch/  

4.    Swiss banks & card providers: Your bank or card issuer will usually provide information and advice on how to protect against card fraud. You should also immediately report the loss or theft of your credit card to your bank or card provider to prevent unauthorized transactions.

5.    Consumer protection: Organizations such as the Consumer Protection Foundation (Stiftung für Konsumentenschutz, SKS) provide information and advice on various consumer issues, including card fraud. Website: https://www. konsumentenschutz.ch/ 

Working against fraud with the Swiss Bankers app:

The Swiss Bankers app is free and, in addition to effective security functions, offers an overview of finances, enables contactless payment with smartphones and worldwide money transfer. You can download the app for free here: https://www.swissbankers.ch/en/services/card-services/swiss-bankers-app/