Monzo Customers Targeted

Customers of challenger bank Monzo are being warned about a new phishing scam aimed at stealing their details.

The new scam takes the form of an SMS message that disguises itself as being from the bank, with the aim of getting customers to provide their account details and passwords. Some users have also reported being sent similar emails.

Monzo has also advised that the messages may not go only to Monzo customers, and other banks such as Lloyds and Revolut are starting to see a renewed wave of scam attempts.

Latest scam detailed

This new phishing scam comes in various forms. Some text messages will tell customers that another person has tried logging into their account and that they need to confirm it wasn’t them. Others are advising that a replacement card has been ordered, or that their login session via the app has expired and customers need to log back in to keep using the service.

These phishing tactics are becoming more and more popular, as scammers look for ways to gain access to customers’ accounts and transfer away their money.

There is ongoing debate around banks’ responsibility to refund customers who are victims of fraud. Banks often try to make the argument that customers should know better and that losses are therefore not up to the bank to repay.

Monzo’s advice

As the latest phishing scam became more widely known, Monzo took to Twitter to advise customers on things they should be watching out for.

These include:

• Checking the sender name. It may appear as the bank, but often scam sends will have a full stop or other word, such as “Monzo” or “Monzo Help”.
• The link within the text will not direct you to the bank’s official website. Look for any URL that has extra words or isn’t the official website.
• Look for typos or numbers inserted into words, e.g. ACC0UNT (where the o is actually a zero). These are tell-tale signs of a scam.

If you think that you’ve been sent a phishing message, never click the link. Open your banking app — if there’s a genuine problem then you’ll have a message in there. If not, report it to Monzo.

And if you do accidentally click the link and enter your details, let Monzo (or your bank) know immediately, and change your password on other websites where you’ve used a similar one.