Tuesday, 27 December 2022 02:53

Avoid becoming a victim of bank scams with the following tips from the SSF

Written by Evelyn Alas

The Superintendencia del Sistema Financiero (SSF) warns that anyone who makes use of any financial product can become a victim of financial fraud, either through cloning of debit or credit cards, theft or loss of checkbooks, assaults at the exit of banking establishments or by making investments in disreputable institutions that offer high rates for savings or investments.

These types of scams can be prevented if you know how they operate and how to avoid them.

However, frauds also occur as a result of the decisions made at the time of investing. Surely you have already found in the newspaper or on the Internet advertisements with phrases such as: "Double your money in weeks", "Invest with us and get high interest rates", "Take advantage of this investment opportunity", among many others that invite and motivate you to invest by offering high profits.

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Some recommendations to prevent fraud are:

1-If you make use of on-line banking: do not make transactions on computers or public networks, keep your software and virus protection updated, create secure passwords, never leave your session open, subscribe to receive from your bank "transaction alerts" by e-mail or text messages in order to keep track of your purchases.

2-When making purchases with your credit or debit card: do not lose sight of the card, make sure there is no strange device in the reader of the electronic teller machines, never reveal your password and take adequate measures so as not to be observed when entering the password.

3-Remember to previously investigate the institution that offers you the financial service, also consult if it is regulated or supervised by the Superintendencia del Sistema Financiero or other regulatory entity of the State.


Translated by: A.M