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Making it clear once we’re on a name with you to guard you from fraud

Making it clear once we’re on a name with you to guard you from fraud

2023-11-26 04:14:57

This weblog publish was correct once we revealed it – head to monzo.com or your Monzo app for the freshest data.

If somebody calls you claiming to be from Monzo, now you can verify to see in the event that they’re telling the reality or not within the Monzo app.

It’s a brand new characteristic we designed to cease fraudsters from tricking you into sending them cash by convincing you they work for Monzo.

If we are saying we’re not speaking to you, grasp up

Right here’s the way it works. If somebody calls and tells you they work for Monzo, open your Monzo app and head to ‘Privateness & safety’ in Settings by tapping your profile within the high left of the Residence display.

If the ‘Monzo name standing’ is exhibiting {that a} member of the Monzo group isn’t speaking to you, grasp up instantly and report it to us. You can begin a report by tapping the decision standing.

A screenshot of the Privacy and Security screen in the Monzo app showing the Monzo Call Status. An orange icon with a crossed-out phone shows a message that says: "We're not talking to you, if someone is telling you they're from Monzo, hang up now"

If the decision standing in your app reveals {that a} member of the Monzo group is on the telephone with you, you’re okay to proceed the decision.

A screenshot of the Privacy and Security screen in the Monzo app showing the Monzo Call Status. An image of a Monzo customer service agent is showing, with a message that says "Talking to you now - Hawa from Monzo"

The decision standing doesn’t lie

Even when the individual you’re speaking to tries to let you know there’s a technical subject or that they’re from a specialist group that wouldn’t present on the decision standing, don’t imagine them. Hold up and report the tried fraud to us by the app. 

For instances the place you’re not related to the web, the decision standing will mirror that. On this scenario we suggest that you simply don’t communicate to anybody claiming they’re from Monzo till you’re related to the web once more and might verify the decision standing. 

A screenshot of the Privacy and Security screen in the Monzo app showing the Monzo Call Status. An grey icon with a crossed-out phone shows a message that says: "No internet, don't answer. It's safer not to answer calls from anyone saying they're from Monzo now"

Issues we’ll by no means ask you

Keep in mind, we’ll by no means name you without arranging it with you first by in-app chat. And if we do name you we’ll all the time be sure that we undergo some safety questions earlier than discussing something to do along with your account.

We’ll additionally by no means ask you to:

  • ship cash to a holding account, protected account or every other account

  • withdraw cash from a Pot

  • make a cost or ship cash for any purpose

  • settle for a notification in your telephone

  • ignore a fraud or cost warning

  • give us your PIN or any private data

    See Also

  • take out a mortgage or use Monzo Flex.

Defending you towards impersonation scams

Final yr alone, folks within the UK misplaced round £170 million to impersonation scams. Which is the very sort of rip-off this new characteristic helps defend you towards.

An impersonation rip-off is when a prison pretends to be another person to allow them to encourage you to ship them cash. It’s generally known as a financial institution switch rip-off or authorised push cost fraud.

By including the Monzo name standing to your app we’re making it attainable so that you can affirm whether or not who you’re talking to is absolutely from Monzo or not. Our hope is that this might cease situations of impersonation scams for Monzo clients altogether.

Individuals are utilizing this to report fraud greater than 100 instances a day

Since we launched this characteristic, we’ve seen that clients are utilizing it on common round 100 instances a day to report suspected fraud.

Now it’s dwell and defending clients, our subsequent step is to consider tips on how to make it extra seen. Privateness & settings – the place it lives now – is a pure dwelling for it, however we expect it ought to seem elsewhere too. Someplace extra seen and simpler to search out when you’re on a name and also you wish to shortly verify that who you’re talking to is who they are saying they’re.

Keep tuned for updates.

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