Don’t do this! Swedbank warned its clients

The bank states that Swedbank is increasingly receiving messages from clients who were deceived and entrusted their payment cards and PIN codes to criminals.

Under the guise of “security experts” or “police officers,” scammers manage to convince people that payment cards need to be scrapped or checked.

The most common reasons for handing over payment cards to fraudsters are that the payment card has been suspended due to an “attempted fraud”, it must be returned/sent for “recycling”, the payment card requires a “security examination”, or the payment card must be sent by “courier”.

In all cases, fraudsters ask for payment card PIN codes at the same time as issuing the card.

Anita Kivkutsane, head of Swedbank’s financial crime prevention and investigation department, notes that people’s trust in strangers is surprising. It is common to think that we will not give our money to anyone, but it remains for someone to pretend to be an “investigator” so that people stop following their habit.

By luring the client’s payment card with its data and access PIN code, fraudsters get complete freedom of action in transactions with the client’s money. It is impossible to block a card that has been subject to fraud in this way until information regarding the fact of fraud is received. The bank learns regarding this only when the client understands the consequences of his actions, seeing the lack of money in the account.

One of the reasons that makes it difficult to prevent fraud is the provision of false information to bank employees, Swedbank representatives explain. When dealing with fraudsters, customers are often pressured into not giving honest answers to questions asked by bank employees. Providing reliable information and responding as quickly as possible is very important to clarify the situation and efforts to limit further actions of fraudsters.

Swedbank reminds that customers should not give their payment cards to other people. Even, for example, when making purchases in a store, the seller must ensure that there is a payment terminal at such a distance that the buyer can pay himself, and not hand the seller a payment card.

If a bank or client has doubts regarding the security of a payment card, it is immediately blocked. At the same time, a new payment card is ordered.

Bank representatives also emphasize that payment cards are never sent by courier – the client receives a new payment card either in his mailbox or at a bank branch. The payment card does not work until the client activates it himself. Therefore, even if someone picks up the delivered payment card from the mailbox, it is not yet valid at that moment.

Swedbank also reminds that state law enforcement agencies do not use people’s personal funds, payment cards, cash, or access to ATMs with people’s bank cards for investigation purposes.

The bank urges you to be very critical of any calls from strangers, especially if they are outside your normal daily routine. Everything related to people’s money, payment cards, devices, personal data cannot be disclosed/transferred to other people.

When receiving such calls, Swedbank urges you to immediately contact your bank and at least try to find out the opinion of an alternative source of information.

Some time ago, a new type of fraud appeared when citizens believed fake police officers or “state security officers” who defrauded citizens of money. By convincing clients that cash should be handed over for “safekeeping” or that it was intended for “investigative purposes” to supposedly uncover “illegal activities,” people themselves handed it over to criminals.