How to Protect Yourself from Fraud
Fraud attempts are increasing, and the methods used by scammers are constantly evolving. Follow these guidelines to stay safe, and learn how to identify the most common types of financial fraud.
The Golden Rule: Never act on someone else’s instructions. We will never contact you by phone, email, or SMS asking you to use your BankID, card reader, or hand over your security codes.
If someone asks you to use your BankID over the phone, hang up immediately. If you suspect fraud, call Quartal customer service at 08-402 57 10.
Common Types of Fraud
Phone Fraud (Vishing)
Scammers call pretending to be from a bank, police, or an authority. They create a sense of urgency, claiming your account is compromised or a mistaken payment occurred. Their goal is to pressure you into verifying your identity via BankID. Protection: Hang up. Look up the official number of the organization they claim to represent and call them back yourself.
SMS Fraud (Smishing)
You receive an SMS urging you to click a link to pay a fee, track a package, or update your account details. The link leads to a fake website designed to steal your login credentials or card numbers. Protection: Never click links in unexpected text messages. Always navigate manually to the company’s official app or website.
Online Fraud (Phishing) and Fake Websites
Scammers send emails or create highly realistic fake websites mimicking Quartal or popular online stores. They trick you into entering personal data or making card purchases. Protection: Always verify the web address (URL). Be highly skeptical of prices that seem too good to be true. Type the website address manually rather than following links in emails.
Investment Fraud and “Pump and Dump”
Scammers lure victims into investing in fake businesses, non existent crypto platforms, or highly manipulated stocks (Pump and Dump). They promise quick, unrealistic returns. Protection: If an investment guarantees high returns with zero risk, it is a scam. Thoroughly research any investment platform and only trade through registered, regulated financial institutions.
Romance Fraud
Scammers build a relationship with the victim over months via dating apps or social media. Once trust is established, they request money for emergency hospital bills or travel expenses to finally meet. Protection: Never send money or share bank details with someone you have only met online.
Deepfake Fraud
Scammers use AI to clone voices or generate fake videos of executives, family members, or public figures, tricking you into transferring money to a fraudulent account. Protection: Be critical of unexpected requests for money, even if the voice sounds familiar. Always verify by calling the person back on a known, trusted phone number.
Card Skimming
Equipment is attached to ATMs or payment terminals to clone your card’s magnetic stripe and steal your PIN. Protection: Always shield your PIN code with your hand when entering it. Modern chip and contactless payments have drastically reduced skimming risks.
Money Mules
Scammers send money to a victim via Swish “by mistake” and ask them to forward it to a different number. This is a tactic used to launder money from criminal activities. Protection: Never forward money at a stranger’s request. If you receive an unexpected Swish payment, only refund it directly back to the original sender using the Swish app’s refund function.
What Quartal Does to Protect You
We work continuously to stop fraud by:
- Collaborating with the Police and the Swedish Bankers’ Association.
- Actively monitoring and shutting down fake websites.
- Providing the free “Careful Option” service, which adds a mandatory time delay to large withdrawals to prevent split second fraudulent transfers.
