On the occasion of European Cybersecurity Month, the digital bank N26 is sharing updated trends and guidance for customers on how to continue protecting themselves from online fraud.
Despite technological advancements and the increasing complexity of online scams, the Trust & Safety team at N26, which specialises in studying and monitoring online threats, continues to see that phishing remains one of the most common techniques used by cybercriminals to deceive their victims.
According to the bank’s security experts*, among the most commonly used first contact methods by scammers last year, SMS has become increasingly prevalent especially in Spain, where it is preferred in more than 77% of the contacts on the market and in Italy (more than 70%), followed by Germany (more than 39% of the contacts). In Germany, scammers choose email as their next medium of choice (more than 37%), while in France, phone contact is the most common technique and is preferred in almost the 60% of the contact in the country, followed closely by Italy, where this method is used in more than 27% of the cases.
Phishing scams evolve and change over time, but recurring patterns, especially during the initial contact phase, remain constant. Here are some essential tips from N26’s Trust & Safety team to keep in mind for recognizing and suspicious messages and calls and staying safe online:
Always question unexpected or unprompted communications: Unexpected SMS messages or phone calls from your bank or any other legitimate service provider could be attempts by third parties to scam you. If you receive a suspicious call from someone claiming to be someone from your bank, phone or utility company, or a tax authority, never share any personal or financial information. Always contact your bank via an official phone number or reach out to customer support to verify if they really called you.
Verify suspicious links: If you receive a link via SMS or email, carefully check the destination page before clicking; also, make sure the URL is reliable and recognizable, paying attention to small details and differences to make sure they match the details on the original company website.
Examine email addresses closely: Always look carefully at where emails come from if they’re requesting something from you. Verify the sender’s details, especially if the message contains unusual or urgent requests, or grammatical or spelling mistakes.
Download apps only from official sources: Always download applications on your device only through the official Apple Store or Google Play Store. Your bank will never ask you to download software from other sources or a link.
The golden rule: do not panic. If a call, message, or email sounds urgent, take your time and don’t be pressured into taking immediate action and take the time to think it through. Instilling a sense of panic or even excitement is one of the most common social engineering tactics that scammers rely on. They want people to act first and think later.
Avoiding phishing attempts may seem challenging, but with a few precautions and a bit of attention, it is possible to avoid falling into scammers’ traps.
*Analysis of reports of attempted scams from N26 customers in Europe over the past 52 weeks.
About N26
N26 is Europe’s leading digital bank with a full German banking license. It offers simple, secure and customer-friendly mobile banking to millions of customers in 24 markets across Europe. N26 processes over 100bn EUR in transactions a year and currently has a 1,500-strong team of more than 80 nationalities. The company is headquartered in Berlin, with offices in multiple cities across Europe, including Vienna, Paris, Milan, Madrid and Barcelona. Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has raised close to US$ 1.8 billion from some of the world’s most renowned investors.
