Monzo launches industry-first ‘call status’ tool to stall impersonation scams

Impersonation scams happen when a criminal contacts a person, pretending to be a trusted organisation like a bank or a utilities provider, and often making an urgent request for money or personal and financial information.

But Monzo’s new tool will let people check their “call status” in the app, which will show whether or not a member of the bank’s team is talking to them at that moment. Monzo, which was founded in 2015, is an app-based bank and does operate a branch network, meaning people cannot talk to members of the team in person.Priyesh Patel, senior staff engineer at Monzo, said: “We’ve built this industry-first feature as an additional layer of comfort and security to help protect our customers from falling victim to fraud.

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Monzo launches industry-first ‘call status’ tool to stall impersonation scamsThe in-app feature will tell customers whether the bank is calling them or if they are being targeted by fraudsters with an attempted scam.
Source: Glasgow_Times - 🏆 76. / 59 Read more »