„If someone calls you claiming to be from Monzo, you can now check to see if they’re telling the truth or not in the Monzo app. It’s a new feature we designed to stop fraudsters from tricking you into sending them money by convincing you they work for Monzo.” the company announced.
If someone calls and tells you they work for Monzo, open your Monzo app and head to ‘Privacy & security’ in Settings by tapping your profile in the top left of the Home screen.
If the ‘Monzo call status’ is showing that a member of the Monzo team isn’t talking to you, hang up right away and report it to us. You can start a report by tapping the call status.
If the call status in your app shows that a member of the Monzo team is on the phone with you, you’re okay to continue the call.
Even if the person you’re talking to tries to tell you there’s a technical issue or that they’re from a specialist team that wouldn’t show on the call status, don’t believe them. Hang up and report the attempted fraud to us through the app.
For times where you’re not connected to the internet, the call status will reflect that. In this situation we recommend that you don’t speak to anyone claiming they’re from Monzo until you’re connected to the internet again and can check the call status.
Last year alone, people in the UK lost around £170 million to impersonation scams. Which is the very type of scam this new feature helps protect you against.
An impersonation scam is when a criminal pretends to be someone else so they can encourage you to send them money. It’s sometimes called a bank transfer scam or authorised push payment fraud.
„By adding the Monzo call status to your app we’re making it possible for you to confirm whether who you’re speaking to is really from Monzo or not. Our hope is that this could stop instances of impersonation scams for Monzo customers altogether.” the company said.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
