How we’re protecting vulnerable customers

Protecting our customers money and data is our number one priority. This is why we’re continuously revamping our security structures and working to hinder fraudulent activity.

Constantly evolving

We live in a digital age where communication is constantly evolving. From landlines to mobiles, or post to email, and telegrams to instant messaging, everything now arrives at our fingertips in a near-instant.

With this, we often forget how easy it is to share our personally identifiable information. While stricter privacy laws are being enforced to protect users and more is being done to educate people about online security – this data is still privy to digital criminals.

To help combat fraudulent and scammer activities that target vulnerable customers, we need to do our best to ensure any activity is completed by our customers.

Preventative monitoring

We closely monitor accounts 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.

It’s in our best interest to have preventative measures in place to ensure we’re not dealing with impersonators. In some instances, we may ask customers to send through their identity documents as soon as they have opened a new Wallet, or account, through Luno.

While this may feel inconvenient at times, this added layer of security means no one is opening an account with just your name and personal details.

Safeguard your account

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.

Learn how you can further safeguard your account, with 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.