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How to spot scammers, prevent fraud and stay safe online

As an online platform, one of our main priorities here at TransferGo is to keep you (and your money) safe. But sometimes, scammers can still find a way to wreak havoc on your affairs. With Covid-19 causing a spike in scams, it’s now more important than ever to prevent fraud and stay safe online.

If you spot something that doesn’t look right or seems a little too good to be true, it’s really important to be cautious and vigilant. Here at TransferGo, we work overtime to detect fraud and fight the bad guys, but it’s still important that you as an individual do your bit too. 

Hopefully, this guide will give you a better idea of how to spot scammers and avoid being a victim of online fraud.

How to avoid online scams 

When making an online transaction, always use a secure website. Make sure it begins with https://. (Fun fact: the ‘s’ stands for secure.) You should also:

  • Avoid using public WiFi to make online payments
  • Always double-check what you are buying
  • Never disclose your passwords or full 16-digit card number and PIN number to anyone else

Sometimes scammers may use third-party websites to trick you into sending money. And unfortunately, these can include reputable sites like TransferGo. When sending money with us, here are a few tips to take on board:

  • Beware of email and text requests asking for your personal 16-digit card number and PIN number. As a company, we never ask for this information
  • Make sure you know the recipient you are sending money to
  • Always understand where you are sending money to. So for example, if you are sending money to Poland, triple-check that you are indeed sending money to Poland
  • Only trust the TransferGo logo if it’s on our own website—we do not authorise any third party to use our company logo on their websites, so be wary if you spot our lettering elsewhere

How TransferGo keeps you safe

TransferGo works night and day to keep your money safe. As well as protecting your payments through account validation, we’re also regulated in both the EU and UK. 

Also, we have a dedicated Compliance department working to detect fraudsters using TransferGo. As we continue to grow and launch new features, we’re expanding our team within Compliance called the Financial Investigation Unit. This department is 100% dedicated to detecting fraud, spotting scammers and keeping our customers safe online.

Remember that TransferGo will never ask for your card’s full 16-digit card number, PIN number or password when making a transaction. Also, no other business is authorised to use our logo on their website. So if you spot our logo on a web page used to pay, this could well be illegal. Err on the side of caution and don’t trust it. We know we’ve said this already, but it really does bear repeating. 

What to do if you think you’ve been a victim of online fraud

If you think you’ve been a victim of online fraud, you should report the incidence to the police immediately. Depending on the business in question, the police will then liaise with the company to discuss the incident privately. 

Due to data protection policies, it’s crucial you speak to the police about the matter first. Only then will we be able to legally discuss the matter with the authorities. In the meantime, we’ll also make sure to report the fraud to law enforcement.

But most importantly, don’t let the risk of scammers and online fraud deter you from making online transactions. By being aware of and following the guidelines above, it’s very easy to stay safe online. 

What are scams and frauds?

Scams are deceptive tricks and schemes used by criminals to trick people into taking their money. This could be something as subtle as disguising hefty transportation costs or as blatant as stealing your identity to set up fake accounts online. 

As well as taking many forms, the increasing move to online operations as a result of Covid-19 has meant that scams are becoming more prominent. A recent article by The Independent noted that the pandemic had caused a 20% rise in bank fraud, namely via romance scams as people try to virtually find love. 

Phishing—the cybercrime in which scammers contact potential victims by email, telephone or text message—is also on the rise. The prevention website reports that 100+ billion spam emails are sent every day and features a handy list of red flags to keep an eye out for. We also recently wrote a guide to protecting yourself from immigration scams.

We know this sounds unsettling but fret not, the majority of people and transactions are trustworthy and safe. It’s just important to be informed and stay aware so that you yourself don’t fall into the trap.


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