How to protect yourself from fake banking apps?

As digital technologies continue to evolve, cyber threats are becoming more common and increasingly sophisticated. Staying alert and protecting your personal and banking information is essential.

Based on information shared by payment networks, a new fraud scheme has been identified involving fake Android (APK) applications designed to imitate legitimate banking apps.

How does this scam work?

Fraudsters may encourage you to download an application that looks like your bank's official mobile app.

Once installed, the fake app may display messages claiming that your payment card is at risk and that you need to take immediate action to protect it. You may be asked to enter your card details, PIN, or other sensitive information, or tap your payment card against your phone using the NFC feature.

The information collected through the fake app can then be transmitted in real time using NFC Relay technology, allowing fraudsters to make unauthorized transactions or withdraw cash from vulnerable ATMs.

How to stay protected

• Download the Credo Bank mobile app only from official sources, such as Google Play or the App Store
• Never download applications from unknown links, files, or untrusted websites
• Never enter your card details, PIN, password, or any other confidential information into suspicious applications or websites
• Never share your one-time password (OTP) or any other security codes with anyone
• Do not open suspicious links or allow unknown applications to access your phone's features, including NFC
• If you receive a suspicious message or request, always verify it through Credo Bank's official communication channels before taking any action

Stay safe

Most importantly, if a request seems suspicious, do not rush to act. Always verify the information through Credo Bank's official communication channels, and only take action after confirming that the request is legitimate.