Security

Your security is our priority

We are committed to protecting your personal information and have many internal measures in place to ensure the security of your transfers.

There are additional steps you can take to add an extra layer of protection to your activities and protect yourself from external threats.

Password security

As tempting as it is to use the same passwords for everything such as your birthday or mother’s maiden name, these leave you at risk of your accounts not being secure.

Below are Currency UK’s top tips for creating secure passwords.

While there are no set parameters about the ideal password length, however, we would recommend using 12 characters minimum.

Numbers, symbols, capital letters and lower case letters should all be used if possible, using a mixture of different character types makes your password harder to crack for fraudsters’ software.

In the age of social media, using passwords with personal meaning can be risky. Never has it been easier for someone to find out your mother’s maiden name or the town you were born in. Passwords using random words are more secure but more difficult to remember.

If you want to use a personal password, make sure you check the privacy settings on your social media accounts, read privacy policies on websites you frequently visit and think twice before taking part in online surveys and quizzes that ask you for information.

Your password needs to be strong. When it comes to creating a password think outside the box and use an unusual combination of words (replacing letters with special characters and numbers.

If you are not sure about the strength of your password there are reputable online checkers out there to tell you how long your password would take to crack.

Use a variety of passwords. While it is important to have a strong password it is equally important to have different passwords for different accounts. This way if one password is compromised, you still have some security in place.

Make sure you don’t share your password with others, even if it is with someone you trust. To minimise the risk you should also change your passwords frequently, every 3-6 months.

Currency UK will never ask for your password, and you shouldn’t share it with us even if it appears that we’ve asked you to.

If you have any concerns that your password is no longer secure, change it immediately and if you receive communication from us asking for a password, let us know immediately.

Computer, tablet and mobile security

Every time you use the internet there is a risk of an attack from fraudsters. 

We have put together some simple tips for keeping on top of online security.

Keep up to date with the latest anti-virus software. Make sure that your software and applications are regularly updated, as viruses continue to evolve to outsmart older versions of anti-virus software. 

Wifi. Make sure your wifi is protected with a strong password. This is another password you should continue to update regularly. 

It may be tempting to click the remember me option when logging in to an account for the first time. Unless this is your own personal device, resist the temptation. 

 

When it comes to using your devices in public make sure you’re using a network you trust. We recommend not connecting to public access networks whenever possible as they’re often a target for cyber criminals. If you’re in any doubt when you’re out, it’s better to connect using mobile data than public wi-fi.

If you’re logging in to secure sites in public check your surroundings thoroughly to make sure no one is looking over your shoulder.

Every time we go onto websites we are hit with ads, pop-ups, sign-up boxes, chat features, etc. Typical fraudsters use these as another way to try and catch you out. As always if a pop up is too good to be true or demands your information, stay away. 

Be careful when selecting memorable answers as additional security to your passwords. If the answer to the question could be found on social media, make sure you pick a different question or answer. 

If you’re visiting our website always type the address directly into the search bar or select it from a web search, and make sure you’re checking for these signs of authenticity:

  1. Invalid security certificates popping up in your browser could be a warning that you’re visiting an untrustworthy site. Ours are always valid.
  2. Check the URL. Fraudsters try different spellings, characters and punctuation to take you to their ‘fake’ websites. That’s why we recommend navigating with the address bar or a trusted search engine.
  3. Check the address bar or links you hover over contain ‘https://’ – this means the site and links on the page are secure.
  4. Check the locked padlock symbol in the address bar, this indicates that the data shared between you and the site you’re using is encrypted and secure. Some fraudsters have wised up to this and use encryption, so check for all signs of authenticity when visiting a website.
Sending funds securely

You should always have confidence in the legitimacy of the recipient of your funds when making an overseas payment.

To keep yourself and your funds secure you should always, verify your recipient’s information and the reason for transfer, and never be rushed or pushed into moving funds.

Email security

Unsurprisingly we are always talking about currency. We therefore like to share our knowledge with our clients to keep them informed on what the market is doing on a daily, weekly or monthly basis. 

As a result, we send several different types of email communications to our customers, from daily market updates, to transactional emails and product updates.

If you receive an email from Currency UK make sure it looks the same as previous emails from us before clicking any embedded links. 

If there’s anything unusual about the communication contact your account manager directly or email [email protected]

Here are some of the ways to tell if an email has not come from us.

  1. It looks different, whether this is our logo or the layout of the email itself.
  2. You’ve received conflicting information in different emails, particularly if this information concerns payments or bank details. 
  3. We never ask for personal details or ask you to provide your login details via email. If your receive an email like this, inform us immediately.
  4. If an email is littered with spelling or grammatical errors it is a sign the email hasn’t come from us. While we may make the occasional typo, if you notice a significant drop off in the language used, it could be a sign that something isn’t right.
  5. If you ever get an email from us that is pushy and telling you to make a payment now, etc, that is a red flag. We are there to facilitate payments for our clients, not tell them what to do.
  6. If you receive an email from someone claiming to be us and the email has not come from a ‘@currencyuk.co.uk’ email, let us know immediately. 
  7. The links in our emails will the vast majority of the time lead you to our website, if you receive an email from us with strange links, this is a red flag. Also, look out for PDFs that are attached. We may send over example case studies or service information, but PDFs telling you to take action in regard to payments or downloading software is the sign of a fraudster. 
  8. We rarely run competitions. If your receive an email (other than our refer a friend scheme) claiming you have won a prize or voucher, let a member of our sales team know.
Telephone and text message security

Unwanted phone calls or text messages are nothing new, but fraudsters are always upping the way that scam calls sound to make them seem more realistic. 

The most important thing to remember is to never let the person at the end of the phone make you feel as though you have to take immediate action in relation to making payments or giving over security information. 

Before you answer a call

If you receive a call from an unknown number it may be worth letting it ring. If someone needs you urgently they will leave a message or follow up with an email. You can also check numbers online to see if other people have registered them as spam. 

If you think a call is from Currency UK but you are not sure, check it against the number on our website. 

The most important rule when it comes to calls is not to give our passwords or security information over the phone. Fraudsters will often impersonate trusted organisations such as banks or HRMC, to try and trick you into making payment or handing over key banking information. 

We only send you SMS messages under specific circumstances – like a One Time Pin to activate your online account or notifications about rate alerts. If you receive a suspicious text from us, let our team know.

Fraudsters will prey on your trust of key organisations and try and impersonate them as well as try to pressure you into a situation where you make a decision quickly without much thought. 

  1. Creating panic 
  2. Encourage you to take immediate action
  3. Sounding helpful & professional
  4. Following up a text with a phone call 
Online service and app security

The measures outlined in our online security section can help you protect your activities from fraud and our online service also has several inbuilt features for added protection.

 

Online service and app

  1. PIN entry – we’ll ask you to enter your PIN at crucial points in the transfer process. Never share this with anyone.
  2. Transactional emails – we’ll send you an email confirming any transactions you make, so you’ll have a record of the latest activity on your account.
  3. Your activity – You can view your recent and historic activity within the app and our online service.
  4. You can also check all the devices that have accessed your account.
Transfer fraud

Make sure that whenever you are making a transfer you are using a company that is regulated by the relevant authorities. 

Currency UK was established in 2000 and we are authorised by the Financial Conduct Authority (FCA) as an Authorised Payment Institution.

If you need to transfer money to a recipient you don’t know well, you could be at greater risk of fraud. While it might seem like common sense, it can be easy to forget the basics.

Always ask yourself these questions before making any international payments. 

  1. Do I really know this person? 
  2. Should I send money to show someone funds are available in my account?
  3. Why would I need to send money to claim an inheritance or win a prize draw?
  4. Why does my relative/friend/associate suddenly need money? Is their request for funds genuine?
  5. Am I 100% sure I should be sending money to someone I met online?
  6. Why am I paying for a tax I’ve never heard of before?
  7. Why do I need to transfer money to claim from an investment?

Additionally:

    1. Have you had a request to change bank details for an existing recipient? Check with the supplier verbally before making the change and sending your funds.
    2. For payments for bonds/investments, undertake due diligence on the regulated status of the investment.
    3. Follow advice from Action Fraud.

Whenever you make a transfer always bear in mind the three steps promoted by Take Five to Stop Fraud.

      1. STOP – Take a moment to stop and think before parting with funds or personal information.
      2. CHALLENGE – It’s fine to reject, refuse or ignore requests for funds – only criminals will try to rush or panic you.
    1. PROTECT – Contact your bank immediately if you think you’ve fallen for a scam and report it to Action Fraud.

If you have any doubts about the recipient of your funds or the reason you’re making your transfer, don’t make the transaction.

If you ever notice anything out of the ordinary or have any security concerns, give us a call on +44 (0) 20 738 0777 or email [email protected]