Identity Theft on the Rise in Andorra’s Banking Sector
As the use of digital payment methods continues to grow in Andorra, so too does the risk of identity theft. Recent reports have shown a significant increase in cases of identity theft and fraud in the country’s banking sector.
Banks Urge Customers to Take Precautions
Several banks, including Andbank, Morabanc, and Creand, have seen a rise in cases of identity theft. In response, they are urging customers to take extra precautions to protect themselves from falling victim to these types of crimes.
Tips for Protecting Your Cards
To help customers protect themselves from identity theft when using cards for purchases in shops or online:
- Remember to sign the back of your card before making a purchase
- Keep an eye on your card at all times when making payments
- Show identification when making payments
- When shopping online, use websites with virtual TPVs and security technology such as Verified by Visa or MasterCard Secure Code
Tips for ATM Operations
For ATM operations, the banks advise people to:
- Not enter their secret number if someone is nearby
- Not leave any documents with account details or credit card numbers at the ATM
- Inform the bank immediately if the ATM retains your card for no reason or you notice any anomalies
Phishing Attacks on the Rise
Phishing attacks, which involve sending fake messages impersonating banks to obtain online banking credentials, are also on the rise in Andorra. The banks are warning customers to be cautious and never enter their data at the request of an email or SMS.
Warning Signs of Phishing Attacks
If you receive a message asking you to access your bank’s website:
- Delete it immediately
- Do not click on any links
If you have already clicked on a link and entered your details:
- Change your online banking passwords as soon as possible
- Contact our customer service department
Protecting Yourself from Identity Theft
By taking these precautions, customers can protect themselves from identity theft and fraud in Andorra’s banking sector. Stay alert to warnings sent by banks, the police, and other companies to stay safe from phishing attacks.