We can all fall victim to online scams!
Attempts at financial fraud have increased recently, which calls for greater emphasis on cybersecurity.
You can report online fraud by sending us an email at netsvik@arionbanki.is.
Attempts at financial fraud have increased recently, which calls for greater emphasis on cybersecurity.
You can report online fraud by sending us an email at netsvik@arionbanki.is.
A net card is a good option for those who want to have an additional card for online purchases. The card costs nothing, is environmentally friendly and accessible in the Arion app.
Before providing your card information, it's good to research the product and seller thoroughly. If the seller is unknown, it's advisable to search for the store's name online or ask others about their experiences.
It's safest to do business with parties you know and that others have had good experiences with.
When shopping online, you often need to confirm your purchase with electronic identification or in the Arion app. This confirmation is equivalent to approving a transaction with a PIN number.
It is important to check whether the amount, currency, and seller's name on the confirmation screen are correct, because once you confirm the purchase, the transaction is irreversible.
Are the messages truly from the party you were dealing with? Is the URL correct? Is the email address normal? Is it the same currency? Does the amount match the amount shown on the confirmation screen in the app?
If you are in doubt, contact the seller.
It can be tempting to get a free trial subscription. Before you provide your card number, however, you should carefully review the fine print. Terms often state that your card will be charged if you don't cancel the subscription within a specific timeframe.
Foreign sellers often offer customers the option to complete purchases in Icelandic kronur. However, the exchange rate they offer is typically less favorable than Arion Bank's rate. It's therefore good to check the terms being offered.
Never share your username and password or PIN for your accounts with others. Also, never share SMS codes with anyone. It's good practice to never use the same password in two different places.
Never share card details (card number, expiration date, CVV number) on social media, over the phone, in emails, or via SMS.
If you receive an email about a login to the Arion app that you don’t recognise, act quickly by updating your app’s security settings and removing any unfamiliar devices.
Be vigilant about login requests with electronic identification. Think of your electronic ID like a wallet.
If someone asked you to hand over your wallet, your first thought would be to refuse. The same goes for your electronic ID.
If you receive an email, SMS, or phone call from someone with payment instructions, it's good to contact the individual, company, or institution to verify whether the payment is actually legitimate.
Take your time and never give in to pressure from third parties.
Cybercriminals use a range of tricks. They may, for example, withdraw small amounts from people’s cards, so the activity is harder to notice. Keep an eye on your transactions and report anything suspicious right away. You can also freeze your card in the Arion app or by calling 444 7000.
It is crucial to be vigilant against various fraud methods and know how to avoid them.
If you believe you have been a victim of online fraud, please contact us immediately by phone at 444 7000 or by email at netsvik@arionbanki.is. Outside regular business hours, you can contact the cardholder service desk at 525 2000.
We also remind you that in the Arion app, you can always freeze your credit card to prevent further misuse.
You can report online fraud by sending us an email at netsvik@arionbanki.is.
Depending on the circumstances, you can also report it to the police by calling 444 1000 or by sending an email to cybercrime@lrh.is.
You can learn more about online fraud on the following websites:
Arion bank's fraud watch team supports customers who experience fraud. The team works closely with both the bank’s internal control unit and Rapyd.
The team also monitors for suspicious transactions and contacts customers if anything unusual is detected.
The fraud watch service is open on weekdays from 9:00 to 22:00 and from 10:00 to 22:00 on weekends and public holidays. You can get in touch by emailing netsvik@arionbanki.is.