Fraud Awareness

In an era dominated by digital transactions, safeguarding your financial well-being is paramount. Our Fraud Awareness page is your shield against evolving cyber threats. Stay a step ahead as we equip you with insights and strategies to navigate the intricate landscape of digital finance securely.
As the digital banking landscape expands, so do the tactics of fraudsters. Our Fraud Awareness page is your virtual guide, arming you with essential knowledge to recognize and thwart potential threats. In a world where every click matters, empower yourself with the awareness needed to protect your financial assets.

Types of Scams

Advance fee /
Prepayment scam

When the victim is asked to pay money in advance.

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Cryptocurrency scam

Targets individuals interested in or involved with cryptocurrencies.

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Emergency scam

Usually targets older individuals exploiting their concern for the loved ones.

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Identity Theft

The perpetrator can assume the victim’s identity.

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Internet Purchase scam

Exploit the convenience of online shopping to deceive and defraud consumers.

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Investment scam

These scams prey on the desire for wealth and financial security.

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Phishing

When someone is deceived into revealing sensitive or confidential information, such as login credential information, financial details or personal data.

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Romance scam

Fake romantic relationship with an individual with the intention of deceiving them into providing money or information.

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Social Networking scam

Fake romantic relationship with an individual with the intention of deceiving them into providing money or information.

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Impersonation scam

Involves a perpetrator posing as someone else, often a trustworthy figure or authority.

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CEO Scam

Executive impersonation scam which typically involves a perpetrator posing as a high-ranking executive.

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Money Mule Scam

When criminals use individuals to move illegally obtained money through their bank accounts.

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How to protect your personal data​

Follow these tips to protect your personal data and ensure that your data is not used for malicious purposes. ​
  • Create complex passwords with a mix of letters, numbers, and symbols. Avoid easily guessable information like names and birthdays.
  • Enable Two-Factor Authentication (2FA) whenever possible for an extra layer of security. This typically involves receiving a code to your phone in addition to entering your password.
  • Limit personal information online. Be mindful of the information you share on social media and other online platforms. Adjust privacy setting to control who can see your personal data.
  • Use secure (VPN), encrypted connections HTTPS when browsing websites.
  • Stay informed about the latest cybersecurity threats and best practices for protecting your personal data.

How to protect your financial information

In addition to protecting your personal data, you must take extra measures in protecting your financial information as well.
  • Regularly check your bank, credit card, e-wallet statements for any suspicious or unauthorized transactions.
  • Make sure to regularly update your devices and financial apps/software to patch security vulnerabilities.
  • Avoid accessing sensitive financial information over public Wi-Fi. Use secure and trusted networks for online transactions.
  • Be cautious of emails, messages, or calls requesting financial information. Verify the legitimacy of communication from your financial institution.

If you suspect you’ve been targeted by a scammer or if you became a victim of a scam

  • Stop all communication with the scammer and if possible, gather copies of communication and documentation shared with or by the scammer. Make screenshots of messages and other interactions.
  • Change passwords for your accounts. Enable Two-Factor Authentication where possible.
  • Freeze your Vault card via the app and contact the Vault Support Team via Live Chat or email at [email protected] as soon as possible.
  • Make a report to local police and law enforcement agencies in your country.
  • Stay informed. Educate yourself about common scams to recognize and avoid them in the future.

The Vault team will never ask for your login credentials or PIN codes. We may request a photo of your card, but you will always be asked to cover sensitive information.