Counter fraud
Fraud Management in the RBI Group

Counter Fraud

The fight against fraud is an essential part of financial crime management in the RBI Group. Our anti-fraud efforts have two main goals:

1.      To minimize the RBI Group’s fraud losses, and

2.      To protect our customers from fraud.

In each of our network banks, we have dedicated, experienced specialists who lead and coordinate the prevention, detection, and investigation of fraud. At the core of our anti-fraud strategy is efficient and effective fraud prevention.


What can you do to protect yourself from banking fraud?

The biggest fraud risk facing banking customers today is payment fraud. Although electronic banking is more secure than traditional, paper-based payment channels, customers of every bank are targeted by fraudsters from time to time. The security of our customer’s payments is of utmost importance to RBI AG. Therefore we apply a multi-layered strategy of customer awareness, system security, and transaction monitoring in order to protect our customers from fraud.

In order to successfully combat payment fraud, banking customers must do their part as well. It is very important to recognize the most common fraud schemes and take steps to avoid becoming victims.

Payment fraud schemes fall into two broad categories: 

  • Unauthorized fraud
  • Authorized fraud

unauthorized fraud

Unauthorized fraud

Unauthorized fraud means that fraudsters try to obtain the legitimate user’s login credentials in order to gain unauthorized access to the user’s bank account. The perpetrators then try to send payments to other accounts, often in other countries, to which they have access (mule accounts).

The most important best practices in order to avoid unauthorized payment fraud are:

  • Keep your operating system and browser up-to-date with the latest updates and patches from the manufacturer.
  • Always open your online banking site using the link on the bank’s official website, never from an ad or a link that was sent to you.
  • Avoid opening links or attachments from unknown senders.
  • Use malware protection on your computer.
  • Only install applications from reliable and trustworthy sources.
  • Do not disclose your banking credentials – when in doubt, contact your bank via trusted channels.

authorized fraud

In an authorized fraud scheme, fraudsters use various social engineering methods to manipulate people into sending them money. Two of the most common authorized fraud schemes against corporates are 'payment redirection' (also called 'business email compromise') and 'CEO fraud'. Below you can find more detailed information about those schemes, and tips on how you can recognise and avoid them:

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