Febelfin and itsme® call for vigilance during summer holidays

Fraudsters are becoming increasingly inventive in their attempts to trick users of digital applications with fraudulent requests, including via the itsme® app. This is why Febelfin and Belgian Mobile ID (the company behind the itsme® app) are joining forces to raise public awareness about an increase in scams based on psychological manipulation of victims. This phenomenon is also known as "social engineering."

While the summer period usually is a time for relaxation and disconnection for many, fraudsters remain very active. More and more people are falling victim to online fraud, where they are manipulated and pressured into confirming an action, they did not initiate themselves. That is why Febelfin and itsme® are focusing on awareness, so everyone can head into the summer holidays well-informed.

A devious way of working

Fraudsters use social engineering techniques, impersonating banks, public services, or even Card Stop. The scenario is often as follows:

  1. A fake message or call refers to an urgent situation: suspicious activity, an account to secure, a transaction to block, a refund to confirm, etc.
  2. The victim is then prompted to open the itsme® app and approve the triggered action to, for example, "secure their account" or "block a transaction".
  3. However, the reason given by the fraudster to justify their action does not match the description of the transaction in itsme®. In reality, the victim is validating a transaction initiated by the fraudster, often a bank transfer.

Examples: 

  • Fraudulent payments are said to have been detected, and the customer can cancel them via their itsme® app. In reality, the customer is giving consent to execute payments that the scammer himself has initiated.
  • The scammer impersonating a bank employee states he needs to confirm the customer's identity via an action in the itsme® app. In reality, the victim is giving consent to log in to his online banking environment.

Everything is orchestrated in a credible and urgent manner, preying on stress or exploiting other circumstances such as travel or holidays.

Our tips to avoid the trap: 

Never approve an action you have not initiated yourself.

  1. If you receive an itsme® request without having initiated it yourself, refuse it immediately.
  2. Don't rush! Read the validation screen carefully. It clearly displays the name of the service, the requested action, and any amounts if applicable. If something seems suspicious, refuse the action.
  3. Be wary of alarming calls or messages: Neither your bank, nor itsme®, nor Card Stop will contact you to resolve an urgent problem by asking you to use itsme®. 

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About itsme®

Since 2017, the itsme® app has been the simple and secure reference for mobile identification and privacy protection in the digital world. Today, itsme® has more than 7 million users and is adopted across more than 20 different sectors. With itsme®, users can: identification (create a new online account and share identity details), authentication (secure and personal access to a website or application), approval of transactions (confirm a purchase or bank payment), electronically sign documents with legal validity (qualified electronic signature with the highest level of assurance), and, finally, share data from an authentic source with a third party (data sharing). These various functionalities account for an average of 35 million itsme® actions per month, or more than 1 million itsme® actions per day.

itsme® was recognized as a digital identity by the Belgian government in January 2018 and at the European level in December 2019 (LOA high eIDAS). The application is widely used in the financial sector as it complies with PSD2, FATF, and GDPR regulations and has obtained ISO27001 certification.

itsme® was developed by the Belgian Mobile ID consortium, which brings together seven leading players from the Belgian banking and telecommunications sectors: Belfius, BNP Paribas Fortis, KBC/CBC, and ING on one side, and Orange Belgium, Proximus, and Telenet on the other. In mid-2021, for the first time since the identity app’s launch, a government fund became a shareholder, acquiring a 20% stake: the Federal Participation and Investment Company (FPIM). Additionally, six other shareholders contributed extra capital, with the aim of taking further steps towards a European digital identity.

Today, the app is available in 17 European countries: Belgium, Denmark, Estonia, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Spain, the United Kingdom and Romania.

Contact

itsme@talkie.be