Security center

Our online services are a safe and secure way to manage your finances and are built around the highest security standards. Nevertheless, it is important that you are aware of potential online scams and fraud attempts, which have increased particularly since the COVID pandemic. You will find information about the most common threats and frauds below:

Phishing

Phishing is a technique commonly used by fraudsters to obtain personal data and security information in order to steal an identity or money. Fraudsters usually send emails that appear to come from a legitimate company to encourage you to visit a fake website and provide personal information. Financial institutions are frequently targeted by such attacks.

Sogexia may occasionally send you marketing information or product information by email. It is important to note that we will never ask you by mail, email or phone for your personal information, login or card details nor encourage you to visit or connect to a site through an email.

It is also possible to end up on a website appearing identical to the legitimate site after a query on a search engine. However, this fake site will have the sole purpose of stealing your login details.

Finally, some online shops are set up to collect bank card numbers. After making a purchase on one of these sites, you will not only never receive the item purchased but fraudsters will have recorded your personal banking information and may reuse this later without your knowledge.

Advance payments

Advance payment fraud is a method by which a fraudster tries to extort an “advance” from you to secure a specific transaction. There are several variations of this type of fraud.

Principle:

• You receive an unsolicited message (e.g. fax, email, letter or website) about an individual, a company or government wishing to transfer funds abroad;
• These messages are sometimes similar to those from real institutions;
• The fraudster will then contact you directly to transfer funds to your bank account in exchange for reduced fees;
• If you respond to the initial offer, you will probably receive an “official” document to complete. Typically, you will be asked to provide a letter with your BIC/IBAN in addition to the amount to be covered for the transaction, transfer and legal costs;
• The fraudster then quickly transfers the funds to an offshore account and moves on to the next victim.

Viruses and Trojan horses

The effects of a virus or a Trojan horse greatly depend on its purpose. Some only cause little or no damage, while others can be very dangerous and deliberately target online banking customers. The bank viruses are specifically programmed to obtain personal information or security data from an infected PC or phone. These viruses can then access the device when the user enters their password on the bank site or connects from a fake login window created for the occasion. Such viruses can be installed from an infected website or by opening an email attachment that looks legitimate and from a trusted source.

SMS and phone calls

Sending SMS or making phone calls are widespread fraud techniques. Fraudsters send you an SMS or phone you posing as a legitimate person or company in order to trick you into sharing personal information.

Fraudulent savings offers

Canvassing to offer you so-called savings products is common and consists of offering savings books with very high interest rates.
Once again, personal information is often stolen and as soon as the first (sometimes very large) sums of money are paid in, the scammer disappears with the spoils of their scam.

Financial scams

Financial scams are varied and often involve financial investments with extremely high rates of return, payments with the promise of future repayment from companies whose identities are impersonated, alternative investments in atypical goods or precious materials, for example.

Fraudulent credit deals

This type of scam aims to offer credit at very advantageous rates and under conditions that no one could find at a real bank or credit institution: low rates that do not vary according to the amount of the loan, very long repayment period, with no conditions imposed. Scammers who offer this type of credit often propose a quick payment of the amount borrowed.
Often the victim of the scam is asked for an initial payment to cover supposed costs and once the money is transferred, the scammer disappears.

These frauds are increasingly accompanied by identity theft:

• More and more frauds involve the impersonation of a bank, payment institution, or financial institution to offer you fake products, often even going so far as to use the identity of its employees to carry out telephone and email solicitations;
• Finally, scammers can impersonate you after retrieving your personal information and proceed with transactions in your name or access your accounts.

How to spot a fraudulent solicitation

Here are some clues that should tip you off when you receive a cold call or email from a canvasser:

• You are supposedly contacted by Sogexia who offers you financial services by email or telephone;
• You are canvassed by someone who offers you financial products that look very profitable (very high interest rates for example);
• You are canvassed by a company or individual who is friendly or touts their expertise or successful past transactions;
• You are approached by someone who claims that you are one of the privileged few who can access an enticing financial service;
• You are asked for your bank details and other personal information, or the payment of a sum of money;
• It is stated that the product is approved by a public authority;
• You are told that your bank or credit institution must make you sign a new contract following a name change.

Sogexia is a payment institution authorised in Luxembourg by the CSSF and offering exclusively payment services and debit cards.

Sogexia does not offer any savings or financial investment products, no credit repurchase/grouping, no life insurance products.

Our customer service agents are exclusively dedicated to answering your phone calls. None of them make outbound calls to place Sogexia products.

If you think you have been confronted with a scam, you are strongly advised to file a complaint with the police.