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How we're protecting vulnerable customers

Luno Team
2 minute read

We make your safety and security our number one priority. This is why we’re continuously revamping our security structures and working to hinder fraudulent activity.

stopfraud

Constantly evolving

We currently monitor accounts searching for clues and patterns of fraudulent activity in locations where fraud is higher than the benchmark we’ve set, or where we’ve noticed a rise in fraud attempts. In doing so, we’ve identified our customers over the age of 60 are being targeted at a higher rate by scams when signing up for Luno.

We want all our customers to use Luno, safely, no matter their age. Because of these findings, we’ve added an extra layer of security for our customers over 60.

What is it?

We now ask any customer over 60 to send through their identity documents as soon as they have opened a Wallet, or account, through Luno.

This added layer of security will help combat fraudulent and scammer activities that target vulnerable customers, as we’ll be able to immediately verify their identity. This action helps you, and Luno, as it allows us to make sure no one is opening an account with your name and personal details.

Why?

This change has been implemented to help protect you, our customer, from being a target of scams. At Luno we have stringent security protocols and make sure our databases and your funds are secure.

While we do everything we can to keep your account secure, it’s important for you to understand and take advantage of the different security features we recommend. In order to further safeguard your account, we suggest you read our articles on how to identify and avoid Bitcoin scams, and how to protect your crypto from hacks, scams and phishing.

If you’ve noticed anything strange with your account, please don’t hesitate to email [email protected] and we’ll happily look into it for you.

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Author

Luno Team

The Luno blog conveys the views of Luno and the people within our team. We will never provide financial or any other form of advice. We urge you to conduct your own research before purchasing or trading any cryptocurrencies. Always be aware of the sometimes volatile nature of the market, and never trade with funds that you cannot afford to lose.

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