The Portuguese Banking Association (APB) launches a nationwide campaign against payment fraud this Monday, with the slogan ‘Don’t give fraud a swipe’.
In a statement to Notícias ao Minuto, the APB explains that the initiative aims to raise awareness of the growing risks of online fraud by promoting safe practices in digital banking.
“The initiative aims to educate various audiences about the main types of payment fraud, highlighting phishing, spoofing, and impersonation. Real examples close to the daily experience of both young and elderly individuals will be used,” reads the statement.
“Campaign is a crucial step to enhance digital and financial literacy”
The campaign aims to promote secure and conscious behavior in digital banking through television, radio, print, and digital media, including social networks. It encourages simple preventive practices such as checking links before clicking and not sharing personal or banking information, and confirming contacts.
“The banking sector has heavily invested in protective technologies and security measures, making Portugal one of the safest countries for payment methods. However, we acknowledge that fraud constantly evolves and reinvents itself. Thus, this campaign is a crucial step in reinforcing the digital and financial literacy of the population and serves as a reminder that everyone has a role to play in prevention. Not giving fraud a swipe protects not just our money but also trust in the financial system,” said Vítor Bento, president of APB.
Campaign targets three groups
APB also states that the campaign specifically targets three groups: youth aged 14 to 24, who are digital natives exposed to e-commerce, social media, and payment apps; millennials aged 24 to 40, intensive digital users who value convenience but have growing concerns about security; and seniors over 65, who face greater challenges in digital literacy.
“This campaign will be disseminated across all APB platforms and most Associated Banks, representing another step in the banking sector’s joint effort to enhance client security and promote digital and financial literacy among the population,” the statement further notes.
The three most common payment frauds
The Bank of Portugal (BdP) revealed that the electronic payment fraud rate remained low in 2024, despite a slight increase. What are the most common frauds?
- Sending SMS, chat app messages like WhatsApp, and phone calls with job offers or high-return investments;
- Issuing payment orders in favor of the fraudster, usually through communications in the victim’s bank’s name. This type of fraud often follows malware installations on the victims’ devices;
- Urgent payments for services via fraudulent payment references, a technique that has increased following the decline of the “Hello dad, hello mom” fraud.
Stay informed.
Notícias ao Minuto | 10:22 – 19/05/2025
