Card fraudsters are making use of ChatGPT & Co.

Artificial intelligence has already revolutionised our everyday lives in many areas. Card fraudsters are also exploiting the potential of AI to better disguise phishing attacks.

The messages are very convincing and are mostly error-free. This makes it more difficult to recognise attempts at phishing. Financial institutions and card issuers are constantly investing in their security systems to ensure that credit and debit cards remain secure as a means of payment and to ensure that the latest fraud scams can be detected. It is however crucial that cardholders fulfil their duty of care - that is not anything that will change in future.

How to protect yourself from card fraud:

• Always distrust messages from strangers.
• Never click on links, never open attachments.
• Always check the sender’s e-mail address and URL.
• Log in only via official websites (not via links).
• Keep your web browser and operating system up-to-date.
• Never give out login and card data.
• Use strong passwords and two-factor authentication.
• Activate a notification service to receive a message when payments are made.
• Always check transactions and payments that were made via the card.