Inflation, economic uncertainty or the fear of a possible recession... are not the only risks that threaten the stability of Spanish money and portfolios. The truth is that to this equation we must add the technological factor. And it is that the greater the use of the Internet, the greater the probability of being a victim of a financial scam. In fact, according to data from the Spanish Computer Crime Observatory, in 2021 there were 267,011 computer frauds in Spain, including bank and card fraud.
Today, emails and text messages sent by scammers posing as financial institutions and asking customers to click on certain links to perform a series of actions are becoming more and unfortunately more believable.
According to the financial comparator HelpMyCash.com, these are some of the red flags that everyone should know to avoid falling into financial fraud.
Whoever has fallen for a scam knows very well that it is not only an upset, a very unpleasant one, but also causes a string of reproaches: “how did I not realize it?, why did I trust?, why not Did I listen to my instinct?
The truth is that scammers often use the time factor. The messages almost always appeal to the imminent: “You have five minutes to update your password”, “we have detected that someone has tried to enter your account. Change your pin as soon as possible…”, are just some examples of the texts that these criminals use to capture the attention of the victim and make them fall into the trap.
But why are people so vulnerable to financial scams? "There is a side of our minds that tends to be faster and make decisions when we are on alert. Scammers take advantage of this to create a sense of urgency. They want you to respond emotionally so that you don't have time to think, but to react", explain the experts at HelpMyCash.com
It is increasingly difficult to differentiate a true message from a false one. Cyber thieves clone bank pages and even send text messages in which the sender is the financial institution. For this reason, specialists recommend: verifying where the messages, requests and links come from before responding or reacting; distrust when receiving a message or e-mail that was not expected; and use unique and strong passwords for financial accounts.
In HelpMyCash.com they highlight another point to take into account. “If someone gets phishing, they will probably have to block their card and account. If this happens you will not be able to pay with the card or withdraw cash”, they warn. “For this reason, we always recommend that you have at least one second account open to be able to operate while your main account is blocked”, they add.
In this sense, from the comparator they explain that there are accounts that do not charge commissions or have great requirements and that they can be an excellent alternative. This is the case of the Sabadell Online Account, which also offers a return of 1% APR for a whole year for the first 30,000 euros in the account. Of course, this promotion is only for new customers and ends on October 31.
Another one preferred by Spaniards is the BBVA Online Account Without Fees. This has no link, so it can be opened with or without payroll. It allows two holders and offers the free Aqua debit card, considered one of the safest on the market, since it does not have a printed number or expiration date and the CVV is dynamic.
The Santander Online Account could not be missing from this list. This does not have maintenance fees and you do not have to domicile the payroll or receipts to hire it. But if it is decided to domicile the payroll or pension, the bank directed by Ana Botín gives away 150 euros gross. Of course, it requires a stay of one year.
